Octopus Ventures has raised £83m for its European growth-stage investment fund, Zenith III.
The firm has secured capital commitments from a range of institutional investors including BP Investment Management.
Octopus will use the fund to invest in high-growth technology businesses located in Europe. The firm used its Zenith I and Zenith II vehicles to invest in businesses such as Zoopla Property Group, Secret Escapes and Graze.
Octopus Ventures CEO Alliott Cole said, “Institutional investors are increasingly looking to access returns from the fastest growing tech companies. Europe has become one of the most attractive locations for tech start-ups. This presents an attractive opportunity for institutional investors looking to support growing companies with momentum behind them.
“Octopus takes a seat on the board of each of our portfolio companies. This allows us to support the company’s growth whilst giving institutions some reassurance over the life time of the investment.”
Octopus Ventures is a part of the Octopus Group and has offices in London, New York, San Francisco, Shanghai and Singapore.
The firm currently manages over £1.7bn of assets across its institutional fund range and has invested in more than 100 companies over the last decade.