Slingshot Ventures aims to raise up to €100m in 2020

Slingshot plans to raise a new €60m fund with commitments from entrepreneurs. The venture capital firm has invested 60% of its current €60m fund, which is also backed by entrepreneurs, Kist said. The VC will keep some of that powder dry for follow-on investments.

Concurrently, Slingshot will consider breaking with tradition in creating a separate fund of up to €40m with commitments from institutional investors such as insurers, Kist said.

The entrepreneur-backed fund and the institutional fund would co-invest on a 60:40 basis.

Slingshot targets potential ticket sizes of €500,000-10m across multiple investment rounds. Companies must generate more than €50,000 in revenues per month.

Kist founded Slingshot in 2017. It is headquartered in Amsterdam and has 10 employees.

Click here for an in-depth profile of Slingshot's upcoming investment activity

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