DN Capital has closed its fourth investment vehicle on €200m to back seed and Series A stage companies.
This new fund will be used to invest in businesses in sectors including FinTech, digital health, consumer mobile apps and SaaS technology.
Around two-thirds of the firm’s total investments have been made in Europe. In Europe the latest fund will focus on companies in Germany, the UK, France and the Nordics, while US investments will be targeted to businesses on the West Coast or on the Boston-New York corridor.
DN Capital’s previous fund raised $200m to invest in 2014, and was three-times bigger than its second fund. Fund III targeted European companies, particularly ones in the UK, Germany and the Nordics, but capital was also set aside for US companies looking to expand in to Europe.
Founded in 2000, the firm has made 65 investments, excluding its seed stage commitments, according to the firm. DN Capital has made several investments in the FinTech space. Last year the firm took part in credit scoring algorithm company Finiata’s €10m Series A and credit scoring startup bonify’s €5.5m Series A.
DN Capital co-founder and managing partner Steve Schlenker said, “With Fund IV we will be looking to back ambitious entrepreneurs with the background, intellect, grit and determination to take a startup and build it into a globally impactful business.”
This fundraise comes after DN capital saw its portfolio company Shazam acquired by Apple, and car marketplace Auto 1 receive a €460m investment from SoftBank’s Vision Fund.
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