Sunstone closes two funds totalling €159m

Sunstone Technology Fund IV held a final close on €112m and will target 30 investments, of which it has already made 10.

Sunstone Progression Alpha closed on €47m and will take part in later-stage financing rounds for Sunstone's portfolio companies that raise €25m or more in a single round.

The predecessor vehicle, Sunstone Technology Ventures Fund III, held a final close on €100m in December 2011.

Investors
LPs in the new funds have not been disclosed. The previous vehicle secured commitments from Danish private equity firm Dansk Vækstkapital, the European Investment Fund and Danish sovereign wealth fund Vækstfonden.

Investments
Sunstone Technology Fund IV has already made 10 of its targeted 30 investments in early-stage technology companies. The main fund has taken part in rounds for Aire, a London-based credit-scoring company; RFRSH Entertainment, a Copenhagen-based e-sports platform; Lillydoo, a Frankfurt-based babycare company; Travelperk, a Barcelona-based enterprise travel business; and Werlabs, a Stockholm-based blood analysis company.

Sunstone Progression Alpha backed the recent $75m series-D for Getyourguide, led by Battery Ventures.

People
Sunstone Technology Ventures – Jimmy Fussing Nielsen (partner).

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• Sunstone Capital A/S