Dawn Capital Fund II Raises £63 million

Dawn Capital said its most recent fund raised £63 million (US$95.1 mln). Dawn Capital II will focus on Series A investments in sectors such as cloud, software, consumer internet & platform infrastructure, as well as financial services technology. The fund has received commitments from the European Investment Fund through the UK Future Technologies Fund, Capital for Enterprise through the new VC Catalyst Fund, institutions and private individuals, Dawn said.


London, 9 July 2013 – Dawn Capital (www.dawncapital.co.uk), one of Europe’s leading venture capital firms, announced today that it is closing Dawn Capital II, a £63 million fund for early stage investments in UK and rest of Europe. This is a first close, with the fund remaining open for a limited time to bring in a small number of further investors.

Dawn Capital II will be invested in UK and European companies with world- class intellectual property assets capable of being tomorrow’s winners. Dawn Capital II will focus on Series A investments in the Cloud, Software, Consumer Internet & Platform Infrastructure and Financial Services Technology sectors.

The fund has received substantial commitments from top tier institutions such as the European Investment Fund through the UK Future Technologies Fund and Capital for Enterprise through the new VC Catalyst Fund. Other investors include globally recognised institutions and private individuals.

Adrian Beecroft, Chairman of Dawn Capital said: “We look forward to working with some of the most exciting companies in the UK and Europe. These high growth companies will be the catalysts for reinventing entire industries during the next decade and beyond and that will bring growth back to our UK economy. At Dawn we will continue to partner with the best innovators pursuing the biggest markets to create wealth for our entrepreneurs and valued investors.”

Norman Fiore, General Partner at Dawn Capital said; “We are very pleased to be closing our second fund Dawn Capital II to allow us to continue working with some of the most exciting and capable entrepreneurs in the UK and rest of Europe. Our current portfolio includes some better known outperforming companies in Wonga and Mimecast – with others closely following and targeting to have a similar impact on their respective industries. Our goal continues to be the same: to be the first institutional investment partner of choice for entrepreneurs right from the early stages through to exit.”

Haakon Overli, General Partner at Dawn Capital said: “The Dawn team is delighted to announce the successful closing of a significant ‘home grown’ UK Venture Capital fund targeting primarily UK companies with global ambitions. We owe our supporters a debt of gratitude for getting to this point, and we would like to thank each in turn. Firstly, we would particularly like to thank our existing portfolio of companies for proving that exceptional performance of UK start-ups in a globally competitive Technology sector is indeed possible. Secondly, we are very grateful for the support of the European Investment Fund which has been essential in this process by committing first and


supporting us throughout. Thirdly, we are very proud to progress from our origins as an Enterprise Capital Fund to raising a larger fund. This was made entirely possible by Capital for Enterprise in awarding us an ECF mandate as a first time fund manager and then closing Dawn Capital II via a commitment by their new VC Catalyst Fund. Lastly, but not least, we want to thank our individual investors whose early and continued support has made Dawn Capital II possible. We are very grateful for all their support.”

ABOUT DAWN CAPITAL (www.dawncapital.co.uk)

The Dawn Capital team are institutional investors and experienced business builders that have previously collectively invested in over 100 companies and been involved in several high profile rapid growth technology businesses, such as Wonga.com, Mimecast and previously Advertising.com, Forbes.com and Self Trade.

Dawn Capital backs outstanding companies seeking expansion capital of up to £6M ($10M) in the TMT and FinTech sectors.