Europe-focused Venture Capital Funds

by Kamarl Simpson

  • 25 Jul 2011
  • PE

Preqin's Funds in Market product shows there are 68 Europe-focused venture capital funds currently raising capital, seeking an aggregate EUR 5.9 billion. 46% of these funds have already held at least one interim close, with aggregate commitments currently standing at EUR 1.2 billion. Europe-focused venture capital funds with no specific stage focus are aiming to raise 48% of the aggregate capital targeted, followed by expansion/late stage venture funds seeking 30% of the total capital being targeted. Early stage vehicles are aiming to raise the remaining 22%.

The largest Europe-focused venture capital fund currently seeking commitments is Index Ventures Growth II, which is targeting EUR 500 million. The vehicle will provide expansion capital primarily to companies based in Europe, and considers investment in US and Israel-based companies operating in the technology and life sciences sectors on an opportunistic basis .

The second largest Europe-focused venture fund currently on the road is A Capital China Outbound RMB Fund. The venture vehicle managed by A Capital Asia is targeting CNY 3 billion for investment throughout Europe. The fund focuses on various industries, including clean technology, energy, high-end manufacturing and healthcare. The fund also invests in European companies developing their presence in China and Chinese corporations expanding overseas.

Data from Preqin’s Funds in Market product shows that so far this year 12 Europe-focused venture capital funds have reached final close. They garnered an aggregate EUR 932 million in capital commitments. The largest fund to reach a final close so far this year is Zouk Cleantech Europe II, which closed in June having raised EUR 230 million. The fund, managed by Zouk, was established through the firm's partnership with Oasis Capital Bank and invests primarily in European expansion-stage clean technology companies with commercially proven technology.

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