German VC Acton Capital has raised €193m for its fifth flagship fund as it looks to target tech-enabled business in Europe and North America.
Acton Fund V secured the backing of LPs such as the European Investment Fund, KfW Bank and Hubert Burda Media.
The Munich-headquartered firm is looking to invest between $5m and $20m in growth stage companies with tech-enabled business models across all sectors.
Acton has already used the fund to invest in telemedicine provider Maple, B2B photo platform LemonOne and direct-to-consumer label Knix.
The venture firm previously raised €170m for the fund’s predecessor back in 2014 and used it to invest in banking SaaS platform Mambu, freelance consultant platform COMATCH and car subscription company Cluno, among others.
“Even in this hyper-growth environment, we can always rely on our core expertise: investing in substance, not the next hype,” said Acton Capital managing partner Jan-Gisbert Schultze.
“We only partner with teams who have a clear path to profitability and who are looking for active support instead of just money.
“As business model investors, we focus on real customer value and sustainable cash flows. No matter if the scope is national, international or global, we are looking for entrepreneurs who want to create value for the long run.”
The VC recently announced the exits of Finanzcheck to Scout24 and the $250M funding of Clio.
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