Isomer II sets target at €250m

Launched in 2018, the programme is designed to address the patient capital funding gap in the UK and targets a commercial rate of return.

British Business Investments has already made a €75m commitment to the fund, in September 2020.

Isomer II will focus on early-stage venture capital managers across Europe that invest primarily in early-stage technology companies. The fund will also pursue a co-investment strategy, investing alongside its fund managers, with additional capital made available for high-growth companies from the underlying portfolio.

Isomer II's predecessor, Isomer Capital Fund, closed on €150m in February 2016. The fund has backed five managers in that space: Hoxton Ventures, White Star Capital, Entrepreneur First, Felix Capital and Connect Ventures.

Isomer II was registered in March 2020. Existing and new institutional partners from Europe, Japan and the US have also invested. The vehicle follows the same investment strategy as its predecessor, which now has diversified exposure to more than 600 technology companies in 30 countries, according to a statement.

MJ Hudson acted as legal adviser on the fund, having provided advice on Isomer Capital Fund.

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• Topics
• Funds
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• UK / Ireland
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• British Business Bank
• Isomer Capital