Endeit Capital extends third fund to EUR 303m

The extended final close comes one year after Endeit Capital III's original closing on EUR 250m, which saw the fund surpass its original EUR 200m target, as reported. Its latest closing therefore also sees the fund exceed its original EUR 250m hard-cap.

Asked about the extension of the fund's final close, Partner Martijn Hamann told Unquote: "We were in advanced conversations with the KfW last year at the time of the final close, and we have now held an extended closing for the fund that we agreed with our existing investors to facilitate their joining."

The KfW's participation in the fund is a testament to the GP's DACH and Benelux focus, Hamann said. "The KfW is a new, large investor that adds a lot of value to our profile as we are a German-Dutch firm," he said. "The fact that we have been active in Germany for almost 10 years and that we have a native German team on the ground are all proof points for them."

Endeit's strategy also offers a differentiated opportunity to the KfW as a new investor, Hamann said. "We are a scale-up firm investing at Series B-plus, which gives us an edge and a different profile from local German investors, many of whom are Series A-focused. At the same time, our strategy offers the KfW the chance to expand their innovation to support the technology ecosystem in both Germany and the Netherlands."

Endeit Capital II held a final close in January 2016 on EUR 125m and made its last investment in April 2021, backing Netherlands-based app developer Bux.

Founded in 2006, Endeit Capital describes itself as a "Dutch-German investor", with a presence in each country via offices in Amsterdam and Hamburg, respectively. However, in addition to the fund's final close, Endeit Capital has announced the opening of an office in Stockholm to focus on the Nordics.

Investors
The KfW (via its ERP/Zukunftsfonds-Wachstumsfazilität strategy) has provided a new ticket in roughly the EUR 50m range, Hamann said, although several entrepreneurs and institutional investors backing the fund have also increased their commitments.

Endeit's funds have historically been backed by more than 75 entrepreneurs, according to a statement. As previously reported, Endeit Capital III is also backed by family offices and institutional investors.

Investments
The fund will generally make initial investments of EUR 10m-13m but can now deploy larger tickets due to its increased size, Hamann told Unquote. The vehicle focuses on European later-stage technology scale-ups.

Around 80% of the fund is expected to be invested in DACH/Benelux, with up to 20% for the UK and the Nordics, Hamann said. The fund expected to invest up to 10% in the Nordics and UK at the time of its final close, as reported, but its increased potential allocation reflects its new office opening in Stockholm and the larger volume of the fund.

The fund expects to make four to five investments per year and to announce a new deal shortly, Hamann said. The vehicle has made four investments so far: Germany-based operational experience management software Parcellab and digital coaching platform Sharpist; Sweden-based enterprise knowledge management platform Stravito; and Netherlands-based audio and video transcription software Amberscript.

People
Endeit Capital – Martijn Hamann (partner, co-owner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Venture
• Benelux
• DACH
• Technology
• Netherlands
• Germany
• Exclusive