European early-stage investment house Isomer Capital has hit a “substantial first close” for a €100m-targeting co-investment fundraise.
The firm said Isomer Capital Opportunities would look to build on investments from its €150m debut fund of funds, Isomer Capital I, providing ongoing support to fast-growing technology scale-ups from within its early stage portfolio.
Isomer co-founder and partner Chris Wade said, “Together with our partner VC funds we continuously monitor the most promising portfolio companies that have rapidly growing revenues and address a market opportunity that could enable a company to become a world class leader.
“Isomer Capital Opportunities will typically invest in companies that have been in the Isomer portfolio for more than eight quarters and demonstrate a strong fully-formed management team with a shared vision of building a global company.”
Last October Isomer revealed a €250m-target for its second flagship fund of funds vehicle eyeing stakes in high-performing European venture capital managers.
Investors in the fund so far include British Business Investments, which last year also announced an anchor commitment of up to €75m to Isomer Capital II.
Isomer is currently invested in 40 funds in Europe, with exposure to more than 970 tech companies.
Isomer Capital I has generated seven unicorns to date, four of which have exited through IPO or M&A – including Deliveroo and Darktrace in the UK.
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Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/isomer-capital-hits-first-close-for-e100m-targeting-fund-to-support-its-fund-of-funds-portfolio-businesses.html
