HV Holtzbrinck Ventures closes sixth fund at about $331 mln

Munich-based HV Holtzbrinck Ventures has closed its oversubscribed sixth fund at its hard cap of 285 million euros (about $331 million).

HV Holtzbrinck Ventures Fund VI targets early-stage internet, mobile and digital media entrepreneurs and businesses. The limited partners for the pool include “a well-diversified group of investors from the US, Europe and Middle East.”

Campbell Lutyens & Co. was the placement agent.

HV’s previous fund closed at 175 million euros (about $203 million), generating an average IRR of 18.80 percent with an average multiple of 1.20x, as of June 30, 2014, according to Bison data. HV Holtzbrinck Ventures V’s LPs included Pathway Capital Management, the European Investment Fund and HarbourVest.

The venture firm has funded over 120 companies, HV said. Among them are Groupon, HelloFresh, Home24 and Delivery Hero.

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