Concentric, a London and Copenhagen based pan-European venture capital firm, has completed the initial close of its second fund – Concentric 02. With the new fund Concentric will continue to invest at Seed+ stage, with a focus on startups in financial services, logistics, real estate, industrial software, and mobility.
The fund will take a hands-on ‘activist’ approach to working with portfolio companies. Concentric 02 starts with an underlying portfolio of seven investments.
Concentric 02 will make initial investments of between €0.5m and €1.5m, investing primarily in European startups and founders, with a portion allocated to emerging market businesses, when the appropriate opportunity arises.
As an extension of its investment thesis, Concentric 02 incubated a Bitcoin focused fund strategy, TimeChain – the first of its kind in Europe – headed up by Alexander Mann, who was recently promoted to Partner.
Concentric 01 fund closed in 2018 and Concentric now manages a total of more than €100 million in assets across its different venture strategies. The portfolio of 45 investments, which includes Superscript, Merama, BVNK, Frontier Car Group and Huckletree, has collectively raised more than €800m in follow on capital, and achieved six exits so far.
