Firstminute holds second close for $85m seed fund

The second close comes three months after the firm held a $60m first close for the fund.

Investors
The vehicle has raised commitments from a mixture of national and international LPs and entrepreneurs. Chinese investors include Tencent, Nan Fung Group and Cheung Chung-Kiu, while entrepreneurs include Frederic Mazzella of BlaBlaCar, Fritz Demopoulus of Qunar and Wes Nichols of MarketShare.

Atomico was the cornerstone investor in the fund at the time of the first close in June 2017.

Investments
The fund will provide investments of $250,000-750,000 in early-stage technology businesses. It seeks to invest in a broad range of countries, including the US, China, Israel, France, Germany, Spain, Sweden, Finland, Serbia, Switzerland and Turkey.

People
Firstminute Capital – Brent Hoberman (founder).
Atomico – Mattias Ljungman (co-founder).
 

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