Go Capital holds first close for €60m seed fund

Oscar Geen
03 May 2017

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Go Capital has held a first close on €60m for its second venture capital seed fund, Go Capital Amorçage II.

The fund targets a final close between €80-100m by the second half of 2017. It will invest in companies in the pre-development stage of their commercial offering across a broad range of sectors.

The first Go Capital seed fund held a final close on €57m in June 2013 and has just closed its investment period after making 25 equity investments.

Investors
The first close is backed by a mix of national and international funds, industrial companies, banks and business angels. State-backed BPI France has committed €20m via the National Seed Fund alongside the European Investment Fund, which has backed it for the same amount. Multiple banks have invested €5m each and regional councils have invested €3m each; around 20 independent investors provided a joint total of €6m.

Investments
The fund will provide an average of €500,000 for initial investments, up to €2m in further rounds and €4m in reinvestments. For more capital-intensive projects, first round co-investments will be considered.

The fund will cover a broad range of industries and verticals, in particular in the digital economy space, healthcare and medical devices, biotechnology and nutrition, environmental technologies, energy transition, as well as service-based companies.

People
Go Capital – Eric Cozanet (CEO).