Prime Ventures IV holds first close on €100m

Prime Ventures IV was launched in 2011 with a €250m target. Prime IV is the successor to Prime III, which raised €156m in total in 2009. Previous vehicles performed very well.

The fund has a 10-year lifetime with a 5-year investment period. Management fees were said to be in line with those of typical venture funds.

Founded in 1999, Prime Ventures is an independent partnership that manages €375m from offices in the Netherlands and the UK.

Investments
With Prime IV, the firm will continue its strategy of investing in fast-growing European companies in information technology and related sectors.

Prime Ventures' recent investments include Takeaway.com (Thuisbezorgd.nl), MarkaVIP, Mendix, Service2Media, Cint and Eutechnyx. 

The fund will usually provide €5-15m of equity per deal, with the possibility to exceed this range for select opportunities. The fund will look to make around four to five investments per year and already has several opportunities in the pipeline.

Investors
The fund mainly raised capital from Adam Street Partners, the European Investment Fund (EIF) and large family offices. Investors are based in Europe and the US.

People
Sake Bosch is a managing partner at Prime Ventures.

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