DN Capital has raised USD200 million (EUR144 million) for its third venture capital fund, GVC III, a three time increase on its previous fund.
The fund is dedicated to investing in early and growth stage companies in northern Europe, particularly the UK, Germany, and the Nordics with an allocation for US companies expanding into Europe.
The investment strategy is focused on supporting dynamic entrepreneurs to global category leading companies – in software, mobile applications, digital media and e-commerce – and in expanding out of their home markets.
Investors include family offices, large institutional investors and sovereign wealth funds.
Nenad Marovac, founder and managing partner of DN Capital, says: “Well ahead of our target and significantly oversubscribed, we are delighted to announce the closing of our third fund at USD200 million. GVC III is far and away our largest fund to date and a real validation of our strategy, performance and our ability to generate first-rate returns for our investors. Our strategy is to build relationships early on with great entrepreneurs, working closely with them during the initial seed stages and throughout their growth process as well as supporting them in launching into new markets. Judging by the terrific start-ups in the European market at the moment, we are certain that we are meeting some of tomorrow’s biggest success stories and are now perfectly positioned to support them. We owe this fundraising success to all of our great CEOs, LPs, advisors and investment team. ”
DN Capital now has USD320 million under management. The firm has invested in over 50 companies since 2000.
