HV Capital, an early-stage and growth venture capital investor has held the final close of HV Capital Fund IX at €710m, making it the largest fund ever raised by the firm. The fund will invest in ‘technology disruptors’ across all growth phases.
HV Capital, an early-stage and growth venture capital investor has held the final close of HV Capital Fund IX (Fund IX) at €710 million, making it the largest fund ever raised by the firm. The fund will invest in ‘technology disruptors’ across all growth phases.
The fund, which was backed by institutional investors from Europe and the United States, will be split into two vehicles, “Fund IX Venture” and “Fund IX Growth”, to target companies from Seed to Series D and beyond.
The new vehicle follows the firm’s €535m HV Capital Fund VIII launched in 2020, as well as the €430m continuation fund “HV COCO” from 2022.
Fund IX builds on HV Capital’s commitment to advancing ESG in the venture capital ecosystem, with commitments made under Article 8 of the EU’s Sustainable Finance Disclosure Regulation (SFDR). In line with this, HV Capital is targeting 33% female representation in C-Suite level positions across the portfolio, as well as having 30% of the funds allocated to companies aligned with the Climate Action & Environmental Sustainability criteria of the European Investment Fund (EIF), by the end of the fund’s lifecycle.
Four investments have already been made from Fund IX in a product intelligence platform, data analytics, energy transition management and ClimateTech, including Berlin-based SPREAD, Berlin-based Polyteia, Munich-based ecoplanet and Copenhagen-based Agreena.
