Keen holds first close for maiden fund on €90m

The new firm was launched by former BT and Alcatel-Lucent CEO Ben Verwaayen, former TomTom COO Alexander Ribbink and former Prime Ventures principal Robert Verwaayen.

Keen has also appointed a number of "network partners" to provide guidance to portfolio companies, including Marcus Weldon – who is chief technology officer at Nokia and president of Bell Labs – and The Up Group founder and CEO Clare Johnston.

Keen Venture Partners Fund is targeting a final close of more than €100m in 2017. The fund did not use a placement agent during the fundraising.

Investors
The new fund received commitments from public bodies including the European Investment Fund and Dutch Venture Initiative, as well as pension fund KPN and bank ING Netherlands. LPs also included private investors and entrepreneurs.

Investments
The vehicle will invest €5-10m per asset in European technology companies, with a particular focus on the UK, the Netherlands, Sweden and Germany. It will also consider investments in North American companies with plans to expand their European operations.

Keen Venture Partners Fund will specifically target companies operating in the information and communication technology market.

People
Keen Venture Capital – Robert Verwaayen, Alexander Ribbink, Ben Verwaayen (general partners).

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