PE Tech Report

Venture Capital

Commonfund closes 13th VC fund at USD625m hard cap

Commonfund Capitalhas closed Commonfund Venture Partners XIII (CVP XIII) at its hard cap of USD625 million. The oversubscribed fund had strong participation from existing investors, as well as select new institutional limited partners. Investors in the fund include foundations, endowments, pensions, healthcare systems and family offices. “We are very appreciative

Brunnur Ventures launches USD65m second fund

Brunnur Ventures GP has launched Brunnur II, its second venture fund with USD65 million (ISK8.3 billion) in commitments. The new fund’s Limited Partners include ten of Iceland’s leading pension funds and Landsbanki. Brunnur II is a lead investor targeting seed and early-stage investments in Iceland with a focus on start-up

Passion Capital opens third fund to crowd investors through Seedrs platform

Early-stage tech venture capital firms Passion Capital is opening up its latest GBP45 million fund, Passion Capital Fund III, to investors registered and qualified by the Seedrs platform.  Passion Capital will make an allocation available to the public, making it the first time retail investors can be part of a

Pi Labs adds five companies to global portfolio

Pi Labs has commenced its ninth accelerator programme, where five start-ups from the UK, Canada and Israel will benefit from a 16-week growth and scale-up programme.  The addition of this cohort grows the proptech VC’s global portfolio to 60 companies across three continents. As part of the programme, the start-ups

AM Ventures holds initial closing of EUR100m 3D printing VC fund

AM Ventures, a venture capital firm in additive manufacturing (AM), has held the initial closing of a venture capital fund dedicated to industrial 3D printing.  The company and major shareholders, the LANGER GROUP, join forces with KGAL, one of the leading independent investment and asset managers for real capital investments

Alex Di Santo, Crestbridge

What we learnt about venture capital in the age of Covid

By Alex Di Santo (pictured), group head of private equity at Crestbridge – Despite Covid, venture capital activity across the globe remained robust throughout 2020 and deal activity, thus far in 2021, suggests venture capital will continue to fly high this year. Below we outline Covid winners, challenges and opportunities

Lightbank closes new USD180m VC fund

Lightbank, a Chicago-based venture capital firm, has closed its second early-stage venture capital fund, Lightbank II, with USD180 million of capital commitments.  The closing brings Lightbank’s total assets under management (AUM) to USD360 million. Lightbank II’s investor base is comprised of institutional investors, family offices, and high net worth individuals.

Alex Chikunov, Sova VC

Sova VC leads Laundryheap Series A round

On-demand laundry and dry-cleaning platform Laundryheap has raised USD3.5 million as part of Series A round led by Sova VC, the firm’s second deal since launch following its investment of USD2.5 million in the Series B round of translation platform Smartcat.

Micro-satellite specialist Umbra raise USD32m in venture funding

Umbra, a Santa Barbara-based intelligence and technology company, has raised USD32 million in an equity financing led by the family office venture fund of John Burbank, founder of hedge fund Passport Capital. The company’s existing investors – CrossCut Ventures, Starbridge Ventures, Hemisphere Ventures, PonValley, and others – also participated. Umbra

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