Tuesday 2 September 2014 8:55 pm
DN Capital raises $200m for new start-up fund
LONDON-based venture capital (VC) firm DN Capital announced yesterday that it has raised $200m (£159m) to launch its third European investment fund, with a specific focus on start-ups in London and Berlin. DN Capital has previously invested in about 50 companies, including London-based mobile app Shazam, and currently has funds of $320m under its management. “Our strategy is to build relationships early on with great entrepreneurs, working closely with them during the initial seed stages and throughout their growth process as well as supporting them in launching into new markets,” said DN Capital’s founder and managing partner Nenad Marovac on the new fund GVC III, which is three times larger than its previous fund.
“Judging by the terrific startups in the European market at the moment, we are certain that we are meeting some of tomorrow’s biggest success stories and are now perfectly positioned to support them.”
As well as European start-ups, DN Capital said it would also look to invest in US firms wanting to expand into Europe. Investment for the fund came from institutional investors and sovereign wealth funds, as well as the European Investment Fund.