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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/05\/04\/hv-capital-closes-e710m-fund-amidst-the-wider-european-and-global-funding-downturn\/<\/a><\/br> If you\u2019ve heard of Flixbus, SumUp, StudiVZ, Seatwave, Cafe Press, Zalando, Wooga, HelloFresh, Depop, Delivery Hero and Agreena, then you\u2019ve heard of companies invested in by HV Capital<\/a>. The German early- and growth-stage VC has been a stalwart of the European tech startup ecosystem since at least the early 2000s, funding largely German-born companies which have usually scaled both in the large DACH market<\/a> and often spreading internationally.<\/p>\n It\u2019s now closed the its ninth \u201cFund IX\u201d at \u20ac710 million, its largest ever fund to date, and backed by institutional investors from Europe and the United States.<\/p>\n Prior to the news above, the largest fund to close in Q1 this year was HighTech Gr\u00fcnderfonds\u2019 (also a German friend) with nearly \u20ac500 million for Fund IV. In addition, McWin Capital Partners\u2019 closed a \u20ac300 million Food Ecosystem Fund.<\/p>\n The HV Capital fund will be split into two vehicles, \u201cFund IX Venture\u201d and \u201cFund IX Growth\u201d to target companies from seed to Series D and beyond.<\/p>\n Four investments have already been made from this new, such as in Berlin-based SPREAD, Berlin-based Polyteia, Munich-based ecoplanet and Copenhagen-based Agreena.<\/p>\n The fund will also build on HV Capital\u2019s stated commitment to advancing ESG themes in VC. It\u2019s committed to Article 8 of the EU\u2019s Sustainable Finance Disclosure Regulation (SFDR). Article 8<\/a> products are those \u201cwhich promote environmental or social characteristics and which integrate sustainability into the investment process in a binding manner.\u201d<\/p>\n Thus, HV Capital says it will target 33% female representation in C-suite-level positions across the portfolio. Plus, 30% of the funds allocated will go to companies aligned with the Climate Action & Environmental Sustainability criteria of the European Investment Fund (EIF<\/a>), by the end of the fund\u2019s lifecycle.<\/p>\n In a statement, Rainer M\u00e4rkle, general partner at HV Capital said: \u201cFund 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.\u201d<\/p>\n HV has also put its money where its mouth his, hiring female investors like Zuzanna Czapinska<\/a>, recently promoted to investment manager.<\/p>\n The VC firm has invested in around 225 internet and technology companies, supporting startups with ticket sizes ranging from \u20ac500,000 to \u20ac60 million, has offices in Munich and Berlin, and \u20ac2.7 billion assets under management.<\/p>\n This latest news shows the continental European VC is managing to keep its head above water in more turbulent economic times.<\/p>\n The Q1 2023 European Venture Report<\/a> from PitchBook found the European venture deal value fell 32.1% quarter-over-quarter, while the number of deals dropped 19.2% in Q1 2023.<\/p>\n There has been a sharp fall in startup funding, late-stage venture has an increased share of deal value compared to early stage and there\u2019s a lot more M&A and consolidation with the IPO markets effectively closed.<\/p>\n However, Europe\u2019s funding downturn simply matches the global funding downturn<\/a> of 53% year over year, according to Crunchbase.<\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nHV Capital closes \u20ac710M fund amidst the wider European and global funding downturn<\/br>
\n2023-05-04 22:09:20<\/br><\/p>\n