HV Capital closes $782 million fund for 'Technology Disruptors'
Germany’s HV Capital says it has closed a €710 million ($782 million) fund targeting “high-growth” firms. The was was announced on HV Capital’s LinkedIn page and comes at a time when many companies are struggling to find funding.
The launch of Fund IX reinforces HV Capital's 23-year track record of successful investments across all economic climates and will enable HV to continue investing in high-growth companies across a range of sectors such as enterprise, fintech, climatetech, and consumerindustries.
Rainer Märkle, HV’s general partner, said the fund will let his firm “partner with outstanding entrepreneurs, who from every industry and market across the continent, are making incredible differences to the way we live our lives.”
''We look forward to helping them unlock opportunities for growth so that they can scale sustainably and build the next great European winners,” Märkle added.
The fund will be divided into two vehicles — Fund IX Venture and Fund IX Growth, to invest in “technology disruptors across all growth phases,” HV said.
The fund’s close comes during what has been a tough time for companies seeking to raise money. As noted here recently, March’s collapse of Silicon Valley Bank — which helped fund and/or provided banking services to a host of VC-backed companies — rattled a sector that was already coping with a funding drought.
The new fund will be split into two vehicles, Fund IX Venture and Fund IX Growth, to invest in technology disruptors across all growth phases, with investment sizes ranging from €500k to €60m. Fund IX reflects HV Capital's commitment to advancing ESG in the VC ecosystem, with commitments made under Article 8 of the EU’s Sustainable Finance Disclosure Regulation (SFDR).
In line with this, HV Capital is targeting achieving 33% female representation in C-Suite level positions across its portfolio, as well as allocating 30% of funds to companies aligned with the Climate Action & Environmental Sustainability criteria of the European Investment Fund (EIF) by the end of the fund's lifecycle.
“We are very excited to announce the close of HV Capital Fund IX today, a record fund-raise which will open new opportunities for us to invest in the next generation of disruptive ideas. Fund IX will allow us to partner with outstanding entrepreneurs, who from every industry and market across the continent, are making incredible differences to the way we live our lives. We look forward to helping them unlock opportunities for growth so that they can scale sustainably and build the next great European winners” : Concluded Rainer Märkle, General Partner, HV Capital.
