Isomer Capital, an independent private investment firm focused exclusively on European venture capital, has held the first close of its new €250 million Isomer Capital III (IC III), with one third of its target subscribed by an early group of returning investors.
Isomer Capital, an independent private investment firm focused exclusively on European venture capital, has held the first close of its new €250 million Isomer Capital III (IC III), with one third of its target subscribed by an early group of returning investors.
The fund’s first close has been held four months earlier than originally planned.
Isomer Capital says IC III continues the firm’s successful strategy of investing in Europe’s best emerging VC funds and growth companies, enabling investors to access “some of the most competitive, exciting and high-potential young technology businesses across the UK and Europe”. The fund follows the same strategy and sizing of its predecessor, IC II, which is performing well as its net asset value (NAV) continued increasing in Q4 2022 against macro headwinds, maintaining its ranking in the top 5% of its kind globally.
IC II attracted a commitment of up to €60 million, which was made by British Business Investments – a commercial subsidiary of the British Business Bank – while the fund also attracted investments from a range of endowments, pensions, corporates, and family offices from across Europe, Asia and the United States. Investors include the likes of Fondaco, Happiness Capital, Italmobiliare, Nikon and PwC Germany, as well as and one of the largest foundations in Germany and a well known US endowment.
Since its inception, Isomer Capital has invested in over 70 VC funds, with groups like Atlantic Labs, Entrepreneur First, FRST, OpenOcean, OTB, and Seedcamp, as well as 31 co-investments and secondary transactions. This has enabled Isomer and its LPs to gain exposure to 29 unicorns (approximately 10% of Europe’s total number of unicorns).
