Spanish venture firm Nauta Capital has closed its third fund on $150m nearly two years after holding a first close.
The close cements the firm’s position as the largest independent venture capital firm in Spain, with a total of $240m under management, and one of the only firms in the region to raise $150m for a single fund.
The final close comes 23 months after the announcement of a first close on €50m in July 2009.
Nauta III is to invest in companies based in Western Europe, with an emphasis on Spain and the UK, as well as the US. The firm forecasts that the fund will invest in 20 companies, which will be between the seed and Series B levels of development. Investments will range from $700,000 to $10m, with an average of $7m per investment.
Since the launch of its investment period in early 2010, Nauta III has invested in seven companies — Abiquo, Groupalia and Yuilop in Spain, Cluster Mobile in the US, and Flirtomatic, Basekit and Site Intelligence in the UK.
With offices in Barcelona and Boston, Nauta’s portfolio has generated a compound annual growth rate of 70 per cent since 2008. The firm predicts that most of the remaining funds from Nauta III will be invested by the end of 2012.
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