Dawn Capital raises $125 million for new Europe tech fund


LONDON (Reuters) – Venture capital firm Dawn Capital said on Thursday it had raised $125 million for its latest fund which is aimed at business-to-business technology companies across Europe.

The firm said its third fund, the Dawn Capital Opportunities Fund, was the biggest of its kind in the region and would provide cash to new and existing investments, with a specific focus on later-stage funding rounds.

Europe is home to a number of growing technology companies that are choosing to spurn bids from larger rivals in favor of remaining independent – something Dawn said it would look to capitalize on.

“The new fund means we can support the next wave of success stories further through their journeys,” Dawn Capital partner Haakon Overli said in a statement.

Dawn Capital’s two previous funds focused on companies in earlier stages of fundraising, some of which have grown strongly, including software firm Mimecast, now listed and worth $2.7 billion, and iZettle, bought by Paypal for $2.2 billion.

The new fund would be backed by a mix of institutional and family office investors, it said, among them British Patient Capital, part of the British Business Bank, which aims to help the country’s tech firms grow.

Reporting by Simon Jessop; Editing by Elaine Hardcastle

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