DN Capital raises EUR50m at first close

Fund

European early-stage and growth equity investor DN Capital has reached a first close on its second fund, Global Venture Capital II (GVC II). The fund raised just under half of its EUR100m target and should reach a final close by the end of the year. Terms are described as standard.

Investments

DN GVC II will typically invest EUR1-10m per deal. By stage, around half is earmarked for early-stage and the other half for growth equity deals, all in the software and digital media space. The vehicle will invest two thirds of its money in Europe and the rest elsewhere, with a focus on the US and Central and Eastern Europe.

Since the fund's first close, three investments have been made, with another two in the pipeline. The investments are Tbricks, an algorythmic trading technology business based in Sweden and Russia; DezineForce, a UK engineering design and optimisation technology company; and Familybuilder, a US business that delivers genealogy applications online.

People

DN is headed by Nenad Marovac and Steven Schlenker.

Name: DN Global Venture Capital II

First close: EUR50m

Focus: Early-stage, growth equity

Contact: Nenad Marovac

Address: DN Capital

28 St James Square

London SW1Y 4JH

UK

Tel: +44 20 7451 2800

Fax: +44 20 7451 2801.

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