Lakestar eyes fundraise for second Growth Fund

The same source said that the fundraise is expected to attract commitments from more European LPs than Lakestar’s predecessor Growth Fund, which held a final close in February 2020 on EUR 426m, according to Unquote Data. This reflects the need for European capital in the continent’s growing technology ecosystem, the source added.

Lakestar declined to comment.

The VC’s growth strategy focuses on late-stage venture rounds for European technology companies with the capacity to invest up to EUR 100m per deal, according to Unquote Data.

In addition to its growth funds, Lakestar manages an early-stage strategy. The firm held a EUR 252m final close for the latest vehicle in the strategy in February 2020, according to Unquote Data.

The firm's sectors of focus include fintech, climate technology and healthcare, according to its website.

Lakestar’s current portfolio companies include Isar Aerospace, a Germany-based micro-satellite developer, as well as Germany-based freight and logistics software developer Sennder.

The firm’s exits include Spain-based on-demand courier service Glovo. Germany-based food delivery business Delivery Hero acquired a majority stake in the company in a EUR 2.3bn deal in December 2021.

According to its website, the VC has raised USD 1.5bn to invest to date and has invested in more than 130 companies.

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