By Emily Nicolle on 16th April 2018
The investment arm of Octopus Group has reached its biggest milestone yet, after completing the largest fundraise in its history for European tech.
Founded in 2007, Octopus Ventures has invested in 89 portfolio companies to date, with 199 subsequent funding rounds. This is a track record its looking to continue, after today completing a raise of €230m to focus on supporting seed and early stage European technology businesses.
The fund added 16 new companies to its portfolio over the last 12 months, and now holds investments in big name firms like property search engine Zoopla and mattress maker Eve. In fintech, Octopus has also backed and invested with several familiar faces, such as lending firm Property Partner and European seed fund Seedcamp.
This latest raise takes Octopus Ventures’ total assets under management (AUM) over the €1bn benchmark, as the investment firm focuses on international expansion after recently opening offices in New York, Shanghai and Singapore.
“The UK’s entrepreneurial network has evolved rapidly over the past 11 years and the resources we now have at our disposal will better equip us to support the tech disruptors of the future,” said Octopus Ventures CEO, Alliott Cole.
“The pipeline of high potential, fast growth businesses has never been so strong and we are excited about the seed and early stage ventures we can help scale.”
The firm has also said it has been building a global network of ‘Venture Partners’: former executives and entrepreneurs brought on board to advise on long-term growth strategies, marketing tactics, and business scalability.
Cole continued: “We’ve always believed that the most talented and ambitious entrepreneurs choose their backers and not the other way around. By investing in our bench of Venture Partners in London, San Francisco, Singapore and Shanghai, as well as our US office in New York, we are increasingly well placed to offer a compelling mix of knowledge, expertise and network to entrepreneurs as they start and grow their businesses.
“This year’s fundraise of €230 million, following €150 million last year, offers us the opportunity to continue to invest in the most ambitious founders, often from Seed when it is just a founder with a bold idea and the makings of a team.”
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.