Active Venture Partners holds final close on €54m

The VC firm changed the name of the vehicle - previously known as Active Venture II - to Amerigo Innvierte Spain Ventures FCR.

The VC launched the fund in 2010 and held a first close on €25m in January 2011. The investor did not name a target size at launch, given the raft of GPs having recently faced disappointment by missing their targets in tough fundraising conditions.

Investors
Private and institutional investors account for 54% of commitments, with public vehicles contributing the remaining capital. International investors have contributed 25% of the total capital raised.

Investors include Telefónica Digital, Innvierte Economía Sostenible (the sustainable investment program backed by Spain's Centre for the Development of Industrial Technology (CDTI)), the Neotec Equity Fund managed by the European Investment Fund and Fespyme, the fund backed by Spain's national credit agency (ICO) and managed by Axis. The Catalan Institute of Finance and four international family offices based in Germany and Spain have also provided capital commitments.

Investments
The vehicle will back internet, software and telecommunications start-ups with revenues of more than €50,000 per month. The fund will acquire minority stakes in 15 companies over the next three years with investments of €500,000-5m.

The fund's portfolio already includes Oooferton, Restalo, Whisbi Technologies, Zyncro and Barnebys. A further three investments will close by the end of 2012.

At least €44m will be invested in Spanish companies, with the fund's remaining capital targeting start-ups elsewhere in Europe, particularly in Germany or Scandinavia.

People
The vehicle is managed by Christopher Pommerening.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Southern Europe
• Venture
• Technology
• Spain