Hoxton Ventures eyes $100m for sophomore fund

European venture capital firm Hoxton Ventures is looking to raise up to $100m for its sophomore fund.

Hoxton Ventures II has yet to register any capital and it is unclear whether the $100m figure is a target or hardcap, according to a new US SEC filing.

The firm’s predecessor fund closed on $40m in 2013, with an aim of backing one to six European companies a year.

London-based Hoxton invests from as little as $250,000 for a seed round, and up to a maximum of $2m as a lead backer for a round. It invests across a range of different industries with a focus on the internet, mobile and software spaces.

The firm aims to be the first venture investor into a company with a goal of being a shareholder for seven to ten years, it claims.

Companies in its portfolio include cybersecurity platform DarkTrace, data and analytics platform Adazza, and decentralised application developer mainframe.

One of the other RegTechs currently in its portfolio is AI software company Behavox. In 2016, Hoxton led the Series A of the company which analyses vast amounts of structured and unstructured data to generate insights. In doing this, the company can help to lower compliance costs, optimise teams and improve processes.

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