Dutch-German growth capital firm Endeit Capital has closed its biggest fundraise yet on €250m to invest in digital transformation-focused European scale-ups.
That total is double the €125m Endeit collected for its sophomore fundraise in 2016, and comes amid a lack of later-stage venture capital in Europe, the firm said.
Endeit said that although European early-stage capital had seen a record high in 2020 despite the pandemic, the European ecosystem historically has a lower supply of late-stage capital than other regions.
The firm, which was among Europe’s first wave of internet-focused investors when it launched in 2006, has previously invested in companies including 3D Hubs, Tourradar, Unruly and Leadfeeder.
Firm founder and managing partner Hubert Deitmers said, “This financing round of Fund III has been a huge success, where we could establish the fund within a short time frame in its first and final close, despite corona.
“Its rewarding to see that ten entrepreneurs that Endeit had previously invested in are now investors themselves in this third fund.”
He added, “As fundamental shifts in technology happen, a spirit of invention and purpose is required – we support those internet entrepreneurs who can drive the change to make Europe more competitive and who have the ambition to become global market leaders.
“The next generation of European internet companies will be accelerated by core technologies, like machine learning, AI and quantum computing.
“These are the technologies that will fundamentally change the world. We are deeply convinced that we need to develop this knowledge within Europe and want to help ensure that European companies developing these technologies find the right environment in their home markets, rather than outside of Europe.
“There is huge potential in building European winners who scale globally, taking a massive share of the respective market.
“We have grown global market leaders out of Europe before. To foster this digital maturity, we see and seek the opportunity in funding and growing great teams in Europe that build global market leaders on these core technologies.”
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Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/endeit-capital-eyes-dearth-of-european-late-stage-financing-with-e250m-fund-iii-close.html
