DN Capital has raised $200 million for its third venture capital fund, GVC III. The fund is dedicated to investing in early and growth stage companies in northern Europe.
DN Capital LLP, one of the UK’s leading venture and growth investors, today announces the raising of $200 million (€144 million) for its third venture capital fund, GVC III, a three time increase on its previous fund. The fund is dedicated to investing in early and growth stage companies in northern Europe, particularly the UK, Germany, and the Nordics with an allocation for US companies expanding into Europe. The investment strategy is focused on supporting dynamic entrepreneurs to global category leading companies – in software, mobile applications, digital media and e-commerce – and in expanding out of their home markets. Investors include family offices, large institutional investors and sovereign wealth funds.
Nenad Marovac, Founder and Managing Partner of DN Capital said, “Well ahead of our target and significantly oversubscribed, we are delighted to announce the closing of our third fund at $200 million. GVC III is far and away our largest fund to date and a real validation of our strategy, performance and our ability to generate first-rate returns for our investors. 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. Judging by the terrific start-ups 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. We owe this fundraising success to all of our great CEOs, LPs, advisors and investment team. ”
Bjorn Tremmerie, Head ERP-EIF Dachfonds at the European Investment Fund commented, “The team at DN Capital are amongst the savviest in the business and given their strong track record, we are confident that they offer a particularly rigorous approach to the opportunities in the venture market in Europe today. Venture is certainly very compelling at present also in Europe.”
DN Capital now has $320 million under management focused on supporting the next generation of ambitious entrepreneurs take their companies from nationally disruptive start-ups to international success stories. The firm has invested in over 50 companies since 2000 and has a proven track record of investing in global category winners.
About DN Capital
DN Capital is a global early stage and growth capital investor in software, mobile applications, digital media and e-commerce companies with offices in London and Palo Alto. DN Capital’s objective is to identify, invest in and actively support its portfolio companies to become global leaders. Portfolio companies include Shazam Entertainment, Apsmart (sold to Thomson Reuters), Endeca Technologies (sold to Oracle), Datanomic (sold to Oracle), Performance Horizon, JacobsRimell (sold to Amdocs), Mister Spex, OLX (sold to Naspers), Quandoo, Videdressing and Windeln.de. The professionals at DN Capital bring over 60 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development.