Balderton Capital, the London-based venture capital firm, has raised a fund of 375 million dollars to make initial investments in new European companies.
The fund, the sixth of the group, will focus on a portfolio of between 30 and 35 companies, Bernard Liautaud, managing partner of Balderton, said in an interview. The firm will invest between $ 5 million and $ 20 million in each of these companies, targeting a property share of between 20 and 25 percent, he said.
"If we do series really, really well, this is the place where" The new fund is a leap from Balderton's $ 305 million collected in 2014, which was also allocated to European companies in the initial phase, and brings the total amount of money that Balderton manages through its funds to $ 2.6 billion.
The company said that confidentiality agreements prevented it from naming investors in its new fund, but added that many of the investors had also backed Balderton's previous funds. He said that investors included a combination of endowments, pension funds and family offices, without any region constituting the majority.
Balderton has already made 10 investments since the new fund since March, the company said. These include SOPHiA Genetics, a Swiss company that helps hospitals sequence patient genomes, as well as Hiya, a Seattle-based startup that badyzes voice calls, and Luno, an exchange of cryptocurrencies, which has offices in London, Singapore and Cape Town
In the past, Balderton has backed the French data badysis company Talend, which was made public on Nasdaq in 2016 and is now valued at $ 1.2 billion, and Magic Pony, a startup based in London bought by Twitter in 2016 for a report of $ 150 million.
The European Investment Fund (EIF), an EU-backed agency that serves as a fundamental investor for many venture funds in the region, has withdrawn from committing money to UK venture capital firms after the vote of Great Britain to leave the EU. The EIF had invested in previous Balderton funds. Liautaud said he could not comment on whether the FEI is an investor in Balderton's new fund, but said "Brexit has not been a problem in raising funds."
Competition among venture capital companies for these early stages investments in Europe are intensifying, said Liautaud. "There is a lot of money on the ground," he said, adding that European companies have attracted a record $ 12.5 billion in risk investment so far this year. "The market is pretty hot."
In January Bloomberg News reported that Brent Hoberman, co-founder of Lastminute.com, had started by raising funds for a new technology fund based in London for new European companies. In February, the venture capital firm of Skype founder Niklas Zennstrom, Atomico, announced that it had raised a new fund of 765 million dollars (19459004) – one of the largest in Europe – to support European entrepreneurs.
Still, Liautaud said he did not believe that there was "a bubble" in the technological start-up valuations in Europe and that these companies were even less expensive than in the US. UU or parts of Asia.