The London based venture capital firm says it is the largest B2B opportunities fund ever raised in Europe.
Daw Capital, a venture capital fund manager focused on B2B software and fintech, has secured a $125m pot from investors including British Patient Capital, family offices and other institutions across Europe and the US.
The Dawn Capital Opportunities Fund will have a specific focus on C-rounds and will enable Dawn to invest up to $70 million in European entrepreneurs.
Together, the 2018 flagship Dawn III fund closed at $235m, and the Opportunities Fund total over $360m in new funds in the last 12 months. The firm has previously invested in iZettle and Mimecast.
Haakon Overli, General Partner at Dawn Capital, says Europe has significant depth of tech talent, increasingly skilled entrepreneurs, and a growing back catalogue of success stories.
“Our investors and the Dawn team felt real conviction around the concept of the Opportunities Fund as we were seeing exciting companies in our portfolio that want to run longer and be around as independent companies for years to come.”
“The new fund means we can support the next wave of success stories further through their journeys. We remain very grateful for the continuing support of our investors and are excited to continue working for our amazing founders who allowed us to reach this milestone.”
Dawn Capital was founded in 2007 by Norman Fiore and Haakon Overli, with Josh Bell promoted as a third General Partner in 2016. It has raised a total of $570m making Dawn one of the largest VCs in Europe.