Lakestar closes second venture fund on €350m

The figure is significantly higher than the €135m of commitments received by the vehicle's predecessor, which held its final close in 2013.

The fundraising was oversubscribed, with the firm stating it had received interest from "prominent investors".

Lakestar is domiciled in Guernsey, though the firm has offices in Zurich and Berlin. 

Monument Group acted as placement agent for Lakestar II.

Investors
Lakestar's founder Klaus Hommels told Forbes that the fund attracted commitments from a wide range of LPs, including Chinese family offices, US endowments and international entrepreneurs.

Investments
Lakestar II will invest in technology and tech-enabled companies across a wide range of segments. It will mainly write cheques of $20-30m, though it has the flexibility of investing as little as $500,000 and as much as $50m, according to the Financial Times. 

The vehicle's broad geographical remit is in a similar vein to the approach adopted by Felix Capital, which held a final close for its maiden fund on $120m in June 2015.

People
Lakestar is led by chairperson Klaus Hommels, whose previous investments include Spotify, Skype, Airbnb and Facebook. 

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