WHEB Ventures achieves third closing on EUR105m

Despite the challenging fundraising environment, WHEB Ventures has achieved a third closing of its clean technology venture fund, WHEB Ventures Private Equity 2 LP, on EUR105m, and is on target for its final close of EUR175m at the end of the year. The fund expects to invest about 1/3 in profitable firms and about 2/3 in post-revenue firms, typically co-investing, committing around EUR5-7m per company over the life of each investment.

So far, the fund has attracted support from financial institutions and European industrial family offices mainly from the UK and Central Europe. As part of this latest close, the European Investment Fund has committed a total of EUR25m, drawn from its ERP-EIF and LfA-EIF funds-of-funds. One of the five partners at the firm, Joerg Sperling, has noted that in the last four weeks there has been a resurgence in interest from US investors, with a number of endowment funds and funds-of-funds currently in the data room.

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