Acton's Heureka Growth Fund II holds first close

The Munich-based venture capital fund has a target of $200m. Acton's previous vehicle, Heureka I, closed on €125m in 2009 and has a portfolio of 15 companies, including Clio, Etsy, KupiVip, Linas Matkasse, MyOptique Group and mytheresa.com.

Acton was established in 1999 and has invested in excess of $500m in more than 55 internet companies.

Investors
Commitments came mainly from Heureka I's existing investors, including the European Investment Fund (EIF) and media group Hubert Burda Media.

Investments
Heureka Growth Fund II will invest in European internet-based companies, following the same strategy as its predecessor Heureka I. Its focus will be on transaction-based, B2C and B2B business models in e-commerce, online marketplaces, e-services and digital media.

People
Jan-Gisbert Schultze is a managing partner and fundraiser at Acton.

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