Kindred's second fund closes on £81m

Kindred II will continue to follow the firm's equitable venture programme, in which 20% of the fund's carry pool is shared with founders of the portfolio companies in which it is invested.

Kindred is currently projecting that around €5.4m will be returned to founders from Kindred I, which would otherwise have gone to general partners of Kindred.

The firm's predecessor closed on £80m in 2018.

Investors
British Patient Capital has made a £20m commitment to the fund, following its investment in Kindred I.

University of Chicago, Industry Ventures, Generation Ventures, Sands Capital, Isomer and Legal & General also committed to the fund. As well as institutions, the fund has attracted founders like Taavet Hinrikus of TransferWise, Carsten Thoma of Hybris, and Rishi Khosla of Oak North, among others.

Investments
Kindred is a seed and early-stage venture capital investor, focusing on European technology companies.

The fund has made 10 investments during the last year. Portfolio companies include BotsAndUs, Gravity Sketch and Beit.

A majority of the fund's capital will be reserved for follow-on investments.

People
Kindred Capital – Leila Zegna (partner).

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