Highland Europe wants to back Europe’s top growth-stage companies.
Highland Europe has closed its third fund in six years, raising €463m to invest in growth stage start-ups in software and internet-enabled businesses.
The firm says the fund was substantially oversubscribed with the cash raised in just 12 weeks It takes the firm’s assets under management to €1.1bn.
Exposure is currently spread geographically across firms based in Germany, the UK, and France, Finland, Ireland, Italy, the Netherlands, Spain, Switzerland and the US.
“We’re excited to have extra firepower to continue investing in the most exciting tech businesses in Europe,” says Highland Europe Partner and Co-Founder Fergal Mullen, commenting on the raise. “At the same time, we’re consciously staying nimble and remain focused on helping the entrepreneurs we back scale-up internationally and achieve their ambitions. It takes more than capital and determination to build billion dollar businesses – and that’s what Highland Europe is all about.”
Over the last 18 months, Highland Europe has sold stakes in the fashion retailer MatchesFashion.com, game developer SocialPoint and waste industry software provider AMCS Group, generating more than €2.4bn worth of enterprise value, the firm says. Meanwhile, Berlin-based GetYourGuide, another portfolio holding, raised €74m in a follow-on round at the end of 2017.
The firm has only made a few fintech investments so far but last year hired a new principal Gajan Rajanathan who focuses on growth investments in software, fintech and internet.