Foursome Investments, the London-based venture capital house backed by the Engelhorn family, has relaunched as Frog Capital.
The decision follows the appointment Mike Reid as managing partner from 3i’s growth equity team. The firm has also increased its funds from €60m to €100m, which it will use to invest primarily in the cleantech space with some capacity for the ICT sector.
Commenting on the launch, Reid said: “Be hungry to invest when others are fearful, we’re told. At Frog Capital, we’re doing exactly that. The funds are being raised to €100m, we’re hiring some great new people and we’re optimistic about the future. We have a strong backer in the family that has financed us, with a long-term vision that we all share.”
The firm will focus on either leading or partnering on companies seeking investment of between €2m and €20m of growth equity.
The Engelhorn family was one of the founders of German pharmaceutical giant BASF in the 19th century. Foursome was founded in 2005 by Kurt Engelhorn and since then has made a total of seven investments, one of which has been realized through the sale of Quay Technologies to Severn Trent Services in June 2007.