Holtzbrinck raises €285m for sixth fund

The fund closed in less than four months and is one of the three largest consumer internet funds in Europe, according to the company.

Campbell Lutyens acted as placement agent for the fund, and King & Wood Mallesons SJ Berwin provided legal advice.

Holtzbrinck ventures' fifth fund closed on €175m in May 2012, seeing commitments from Pathway Capital Management, the European Investment Fund, fund-of-funds manager HarbourVest Partners and parent Holtzbrinck Publishing Group.

Last week, Holtzbrinck portfolio company Flixbus merged with MeinFernbus, having secured backing from General Atlantic.

Investors
Investors in Fund VI stem from the US, Europe and the Middle East.

Investments
Holtzbrinck's latest fund will follow the investment strategy of previous vehicles, investing in internet, mobile and digital media start-ups and early-stage companies. It will also provide capital for additional funding rounds. Initial investments start at €500,000 and Holtzbrinck says it now has the capital to invest up to €40m per portfolio company.

People
Sven Achter is general partner at Holtzbrinck.

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