DN Capital holds first close on €51.5m

The vehicle's target lies at €100m.

The close follows DN's successful trade sale of Apsmart to Thomson Reuters in June, marking the fund's seventh exit in two years.

Proskauer Rose is providing legals for the fund while Augentius is fund administrator. No placement agent has been appointed.

Investors
DN Capital secured commitments from both existing and new investors.

Investments
In line with the investment strategy of previous funds, DN Capital GVC III will deploy capital in software, digital media and e-commerce businesses across Northern Europe and the US.

People
Nenad Marovac, founder and CEO, led the fundraising for DN Capital.

DN would not comment.

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