Holtzbrinck holds first and final close on €306m

The fund closed at a similar size to its predecessor, and will pursue the same strategy.

Holtzbrinck Ventures Fund VI held a final close on €285m in January 2015 and is now 100% invested. 

The only change in strategy is that the vehicle will now have greater flexibility to provide rounds below €500,000 in a simplified investment process through its new seed programme.

Holtzbrinck has worked with Campbell Lutyens in the past but did not use a placement agent for this raise. Flick Gocke Schaumburg provided legal and tax advice.

As a result of this raise, Holtzbrinck now has more than €1bn in assets under management, and has also made distributions to its LPs of more than €1bn.

Investors
The raise had high demand from existing investors including the European Investment Fund, Harbourvest Partners, Pathway Capital, Cambridge Associates, the Abu Dhabi Investment Authority and Holtzbrinck Publishing, and took new commitments from three new LPs, unquote" understands.

Investments
The new vehicle will target first-round investments between €500,000-5m, with up to €40m available in follow-on financing. It can also make seed investments below that amount and expects to close a total of 10-12 transactions per year.

The fund will focus on the technology sector, specifically internet, mobile, software, healthcare, finance and digital media companies in both the B2B and B2C segments.

Holtzbrinck has previously backed companies including Zalando, Delivery Hero, Flixbus and Scalable Capital, which have gone on to raise eight-figure rounds or successfully float on the Frankfurt Stock Exchange.

People
Holtzbrinck Ventures – Rainer Maerkle (general partner).

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