Paua Ventures holds first close on $45m

The fundraising started nine months ago. Paua expects to hold the final close on $65m in Q2 2016. The VC expects a lifespan of 10 years with an investment period of five years.

Investments
The vehicle will invest in European seed and series-A companies in areas such as software-as-a-service, B2B marketplaces, B2C mobile businesses, mobile enterprise solutions as well as e-commerce.

The geographical focus includes the DACH, Scandinavia and CEE regions. The fund has already deployed $9m in seven portfolio companies to date; another 20 investments are planned.

Paua I starts backing companies at seed or series-A stage, investing between $200,000-2m, with an option to follow up to a maximum of $6m.

Investors
The fund attracted investments from wealthy individuals, family offices, corporates such as Klöckner & Co and institutional investors such as the European Investment Fund. All LPs hail from Europe.

People
Christian Buchenau is a partner at Paua.

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