DN Capital's Global Venture Capital V surpasses €200m

Alessia Argentieri
11 June 2021

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DN Capital has raised more than €200m for its latest vehicle, Global Venture Capital V (GVC V), surpassing its initial target.

The fund expects to hold a final close in the coming weeks. It will be larger than its predecessor, DN Capital Global Venture Capital IV, which closed on €200m in 2017.

GVC V targets seed and series-A investments in software, fintech, online marketplaces and consumer internet applications across the UK, Europe and the US. Initial investments amount to around €250,000 for seed rounds and around €2-5m for series-A rounds.

The fund has raised capital from sovereign wealth funds, institutional investors, family offices, high-net-worth individuals and entrepreneurs. The majority of its LPs are from Europe, while around one third are from the US. Connection Capital is among the investors in the fund.

GVC V has made seven investments to date, including rounds for online money transfer service Remitly and online private tutoring company GoStudent.

DN Capital is a global early-stage venture capital firm, founded in 2000 and based in London, with further offices in Berlin and San Francisco. The firm focuses on seed, series-A and selected series-B opportunities in Europe and North America, providing companies with up to €20m in capital.