DN Capital starts fundraising for €200m fourth vehicle

Update (24/08/16): A notice on the website of fund-of-funds Connection Capital confirmed DN GVC IV has a target of €200m. Connection itself has made a commitment of €3m.

Original story: According to filings made with Companies House, the fund will have a 10-year lifespan and has already received commitments from 23 investors.

LPs include the European Investment Fund, as well as funds-of-funds and various high-net-worth individuals. Swiss banks Schroders and Banque Cantonale de Geneve also feature in the filings, as does an investor named Guy Hands, possibly the founder of private equity firm Terra Firma.

DN Capital typically targets early- and growth-stage companies in northern Europe, particularly in the UK, Germany and the Nordic region. Its previous fund, which held a €144m final close in September 2014, also had a 25% allocation for US companies expanding into Europe.

Most recently, the firm joined Octopus Ventures in a £6.9m series-B funding round for London-based Eve Sleep, an online mattress retailer.

Proskauer Rose is acting as DN's fund formation adviser on the latest fundraising.

unquote" has approached DN Capital for comment and was awaiting a response at the time of publication.

For more details on the latest DN fund, visit unquote" data.

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