Index Venture closes ^E350m early-stage fund

01 May 2009

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Fund

Index Ventures has closed Index Ventures V on ^E350m. The fund was launched a few months ago and had no preliminary closings. Organized as a limited partnership and based in Jersey, it has a lifespan of about 10 years, with the investment period expected to be about three years. Ropes and Gray in New York provided legal advice.

Investors

The fund was raised almost entirely from the firm's existing base of limited partners, which consists of pension funds, funds-of-funds and endowment funds from the US and Europe.

Investments

The fund is dedicated to early-stage and seed investments in the technology, biotechnology and clean technology sectors across Europe, the US and Israel. The fund will invest anywhere between a few hundred thousand euros for seed rounds to ^E5-10m in early-stage rounds.

In terms of biotech, Index is equally interested in very early-stage ventures and more mature companies with established proof-of-concept. In terms of therapeutic areas, its priorities are oncology, CNS, immunology and inflammation.

Investments made during the last 12 months include: Criteo (France), DimDim (India), Lehigh Technologies (US), MyHeritage (Israel), NormOxys (France), OpTier (Israel), Playfish (UK), RightScale (US), and WooMe (UK/US). This is the fifth early-stage fund Index has raised in the past 10 years.

People

A team of twelve handles the investments. Operating from offices in Geneva, London and Jersey, Index invests in companies across multiple geographies.

Name: Index Ventures V

Closed on: ^E350m March 2009

Focus: Early-stage, Europe, global

Contact: Ennio Ongini

Address:

Index Ventures

52 53 Conduit Street

London, ^W1S 2YX

United Kingdom

Tel: +44 20 7154 2020

Fax: +44 20 7154 2021

Advisers: Ropes and Gray (Legal).