Fortino Capital Partners has held a first close on EUR45 million for the successor of its first VC-fund, Fortino Capital Venture II.
The fund, which will be focussing on early stage European software and tech companies with a regional bias to the Benelux, has a target size of EUR80 million. Including this fund Fortino Capital Partners now has three funds in its portfolio.
“We are living through uncertain and tough times and as an investment company we would like to, more than ever, send out a sign of hope and trust to young entrepreneurs. With our new fund we would like to reiterate our trust in entrepreneurs, driving the digitalisation of our economy and society,” said Duco Sickinghe, managing partner at Fortino.
“We will use our new capital, our experience and our expertise to boost the success story of early growth companies. We believe in the future and therefore would like to send out this positive signal. We are delighted that many investors follow the same philosophy and have reiterated their trust in Fortino,” he added.
Investors include private investors, entrepreneurs, as well as institutional investors such as PMV and SFPI-FPIM.
The first VC fund, Fortino Capital I, with a capital of EUR80 million, has to date invested in 8 software companies including Teamleader, BuyBay and Bloomon.
The fund is also an investor in Dobco and Riaktr, two companies that are actively involved in the diagnosing and monitoring of Covid-19.
The second fund, Fortino Capital Growth PE I, is a growth private equity fund with a capital of EUR242 million targeting larger businesses, banking on accelerated organic growth.
Fortino Capital Venture II is targeting minority investments with entry investment tickets ranging from EUR500,000 to EUR5 million, and sufficient capacity for successor capital rounds.
