UK venture and growth capital investment firm DN Capital has scored a huge capital increase by holding a $200m final close for its third fund.
GVC III is three-times bigger than the firm’s previous vehicle, and will be used to target European growth-stage companies with a focus on the UK, Germany and the Nordics.
DN said it would also have an allocation for US companies expanding into Europe.
The fund’s investment strategy will seek “category-leading companies” in software, mobile apps, digital media and e-commerce to expand out of their home markets.
DN Capital founder and managing partner Nenad Marovac said, “Well ahead of our target and significantly oversubscribed, we are delighted to announce the closing of our third fund at $200m.
“GVC III is far and away our largest fund to date and a real validation of our strategy, performance and our ability to generate first-rate returns for our investors.
“Our strategy is to build relationships early on with great entrepreneurs, working closely with them during the initial seed stages and throughout their growth process as well as supporting them in launching into new markets.
“Judging by the terrific start-ups in the European market at the moment, we are certain that we are meeting some of tomorrow’s biggest success stories and are now perfectly positioned to support them.”
DN Capital now has $320m under management, and has invested in more than 50 companies since 2000.
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