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Tech Security Dawn Capital closes another $400M fund to concentrate on B2B software


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Tech Security Dawn Capital closes another $400M fund to concentrate on B2B software

Dawn Capital, the London-based VC that focuses on B2B software, has closed its fourth and largest fund: $400 million that it plans to use to continue investing in early-stage startups. Oversubscribed and closed (all remotely) within six months of launching in the midst of a global health pandemic, the news underscores how VCs — and…

Tech Security Dawn Capital closes another $400M fund to concentrate on B2B software

Tech Security

Dawn Capital, the London-based VC that focuses on B2B software, has actually closed its 4th and biggest fund: $400 million that it plans to utilize to continue investing in early-stage startups. Oversubscribed and closed (all from another location) within six months of launching in the midst of an international health pandemic, the news highlights how VCs– and their financiers– continue to see chance in the area, despite the numerous uncertainties that hang over us today.

” European founders are doing truly well, with lots of good stories in our portfolio currently, and they’re simply getting better,” stated Haakon Overli, Dawn’s co-founder and a general partner, in an interview.

Overli believes we’re in the start of a big wave in Europe, where we will see not simply more promising B2B startups emerge, however more of them scale within Europe rather than decamp to the U.S., or offer early to a larger rival.

Dawn’s focus is presently on four primary locations: information and analytics, security, fintech and “the future of work”– all categories that have actually seen a considerable fillip in recent months as business are forced to rethink how they run– with significantly more workers working from another location– and are buying updated systems to do so. Dawn approximates that the B2B software application market in Europe is currently worth some $1 trillion.

To date, Dawn has purchased some 40 companies, and a few of the noteworthy names in its portfolio include information analytics startup Collibra, IZettle (which was acquired by PayPal) and device discovering company Dataiku.

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In 2015, it closed a $125 million “opportunities” fund to make growth-stage, later on investments, however this current fund will bring it back to concentrate on smaller financial investments of between $5 million and $20 million. Considering that this a $400 million fund, that likely indicates a sizeable volume of startups entering Dawn’s portfolio, setting up the VC to stay a steady and strong player in Europe for years to come.

” Innovation thrives on instability. System-wide shocks drive change that startups can exploit ruthlessly, while incumbents are incapable of changing,” said Dawn co-founder and GP Norman Fiore, in a declaration “H istorically, these shocks were either financial, technological or social. In 2020, we have actually had all three at the same time: innovation shock as the cloud entered its own, monetary shock which will require society to do more with less, and a basic change to the method our working society is organised. We can’t wait to see where our business owners take us as we invest Dawn IV and greatly value the assistance of all our financiers in making this a successful fundraise.”

We are faced with a variety of challenges at the minute. There are a number of indications that the economy is going to continue to flag as a result of reduced consumer activity, unemployment and other repercussions of the COVID-19 pandemic. And on top of that, a number of start-ups have found raising rounds and discovering the ideal evaluation in the process to be an obstacle.

However in spite of all that, we have actually seen a variety of huge offers, and a variety of VC companies close huge new funds. This indicates activity not slowing down if the chance is timed right and if business has built and executed on something that is proving to be beneficial.

In addition to Dawn’s oversubscribed fourth fund being its biggest ever, other firms out of Europe that have actually closed funds in recent months consist of Nauta Capital( initially close of $141 million in July), Target Worldwide(a $141 million early-stage fund), RTP International($650 million fund) and OMERS Ventures(which has a strong European focus in its $750 million fund). Others that closed huge rounds right before the pandemic hit consist of Atomico, Northzone and Felix Capital, among many others, pointing also to simply just how much capital remains in the system today getting invested.

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