Nauta Capital secures $70m for new software and digital media fund
British Business Bank has committed investment to the VC fund to promote UK tech firms
Nauta Capital has completed the first close of its 2015 fund at $70m to focus on investing in early stage technology companies in business-to-business (B2B) software, digital media and mobile and internet enabling technologies.
The first close has included commitments from a number of British and European institutions including The VC Catalyst Fund – which is managed by the British Business Bank – enabling high-growth British digital and media start-ups to access growth capital.
Founded in 2004, with offices in London, Boston and Barcelona, VC firm Nauta has led investments into more than 30 companies and plans to lead a further 25 from its new fund over the next five years.
Current UK portfolio companies include social media monitoring company Brandwatch, customer service software firm Fizzback and website builder BaseKit.
The company is expecting the final close of its fund in early 2016, targeting a total of between $115-$175m.
Carles Ferrer, general partner at Nauta Capital, commented: “Our passion is backing great entrepreneurs that share our desire to produce world-leading capital efficient B2B software companies and become global disruptors. We target businesses operating in large markets where technology has had limited impact to date but show strong prospects of rapid and material change.
“These companies can grow substantially with the right backing and Nauta has a great track record in responsible investment at the right stage in a company’s life, avoiding conflicts between entrepreneurs, teams and investors. Our companies use our initial funding to grow very rapidly and will accelerate investment only when appropriate. This aligns interests across the board and maximises returns at all sizes of exits”
Ken Cooper, managing director of venture capital solutions at the British Business Bank, continued:
“The Nauta team has a proven track record in nurturing disruptive tech companies in the UK. The British Business Bank investment will allow them to grow their UK operations and back more of this country’s promising technology businesses.”