Highland Europe raises €332m for tech growth fund
Firm's first fund invested in 15 technology businesses including WeTransfer, NewVoiceMedia and LoveCrafts
Growth-stage venture capital firm Highland Europe has launched a €332m fund for “rapidly emerging” technology businesses; Highland Europe Technology Growth II.
The fund plans to invest between €10m to €30m per deal having already invested in 15 companies, including WeTransfer, NewVoiceMedia, LoveCrafts and Brandwatch, through its first fund.
Launched in 2012, Highland Europe operates from offices in London and Geneva and backs tech businesses which are able to address large market opportunities in internet, mobile and software.
Highland Europe’s partners – Fergal Mullen, Laurence Garrett, Irena Goldenberg, Sam Brooks and Tony Zappala – have said they are looking to back companies led by inspiring entrepreneurs who have demonstrated resourcefulness by achieving substantial revenue scale in a relatively short period of time, and on a capital-efficient basis.
“In Europe, the early-stage investment market is relatively well-funded – but there is a relative under-capitalization of the venture and growth-stage market. In the past, deals requiring investment of €10m – €30m were over-syndicated by European investors prompting many entrepreneurs to seek capital in the US.
“Highland Europe is simply meeting a market need within the venture capital and growth-capital eco-system.”