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Europe-focused Venture Capital Funds

by Kamarl Simpson

  • 28 Mar 2011
  • PE

Preqin Funds in Market shows there are 89 Europe-focused venture funds currently raising capital, seeking an aggregate EUR 9.8 billion. 45% of these funds have already held at least one interim close, with aggregate commitments currently standing at EUR 4.6 billion. Europe-focused venture growth funds are aiming to raise 56% of the aggregate capital targeted, followed by venture funds with no specific stage focus seeking 31% of the total capital being targeted. Early stage vehicles are aiming to raise the remaining 13% of capital being sought for Europe-focused investment.

The largest Europe-focused venture fund currently seeking capital is AF Eigenkapitalfonds Für Deutschen Mittelstand, which is targeting EUR 500 million. The vehicle will provide growth venture capital to 15-20 companies within Germany across a diversified range of industries excluding tobacco, weapons and financial services.

The second largest Europe-focused venture fund currently on the road is Englefield Capital Fund III. The growth-focused venture vehicle is targeting EUR 400 million for investment throughout North West Europe. The fund targets firms operating in the business services, education and training, financial services and the renewable energy/environmental services sectors.

In 2010, 34 Europe-focused venture funds closed raising EUR 4.1 billion in aggregate capital. The EUR 1.2 billion 3i Growth Capital Fund was the largest fund to close in 2010. The vehicle makes minority investments in growing businesses across Europe, and also considers investment opportunities in Asia and North America across a range of industries.

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