New tech-focused VC KEEN Venture Partners closes first fund at €90m
New VC will invest between €5m and €10m in high potential scale-ups, with a focus on UK innovation hubs
KEEN Venture Partners, a new London and Amsterdam-based venture capital firm focused on technology scale-ups, has raised €90m in the first close of its inaugural KEEN Venture Partners Fund.
The European Investment Fund (EIF), Dutch Venture Initiative and KPN Ventures all participated in the round, with a final close slated for 2017.
With a particular focus on innovation hubs in the UK, the fund will provide early growth capital of between €5m and €10m to high-potential tech companies across the UK and Europe, as well as North American firms looking to expand in Europe.
Companies operating in specific areas of information and communications technology will be of particular interest, with UK tech firms able to benefit from the VC’s capabilities and network of tech experts that includes Marcus Weldon, CTO of Nokia and president of Bell Labs, and Clare Johnston, founder and CEO of The Up Group.
Robert Verwaayen, general partner of KEEN Venture Partners, commented: “This new Fund is the first from KEEN Venture Partners and we are pleased with the exceptional range of high-profile institutional and private investors, demonstrating a high level of confidence in the new fund.”
Pier Luigi Gilbert, chief executive at the EIF, said: “EIF currently supports over 400 private equity funds across Europe, including first-time teams. KEEN’s partners are among the most experienced operators we’ve seen starting a new venture capital fund, which is good news for the venture community.”