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September 18, 2007
Euro VC Fund News: PTV Primes The Pump While Viadeo's and MXP4's Backer Raises €150M
French firm Ventech , which you may recognize as the backer of startups we have covered here like business socnet Viadeo, and MXP4, has closed its third fund on target at €150M.
It says it will continue to invest in early stage companies operating in the IT (software, hardware and communications, and applications and services) and biotechnology sectors in Continental Europe.
New LPs contributed nearly half of the fund's capital, which is an indicator of investor confidence in the firm's ability to generate returns. Ventech has already made several investments from its new fund, including Crocus (supplier of DRAM products and technologies), MXP4 (digital interactive music format), Skyrecon (security solutions software) and Viadeo (business social networking).
Prime Technology Ventures, announced a first closing on its third fund on €60M. The target of the fund is €150M. The early stage North-West European-oriented investor said that its existing LPs, such as Adams Street Partners, Feri, Parcom Ventures (the private equity arm of ING Group) and a number of family offices are on board.
Its first investment with the new money is in Vespro, the company behind Greetz, which offers printing on demand service for personalized greeting cards. Other recent new investments include the video clip advertising innnovator Adjustables, which we have covered, soc net startup Netdialog (also covered in these pages) and Palringo.
In the last 12 months the firm said it successfully exited investments in Global Collect, Human Inference, MarketXS, Tridion and Watermark, which explains the LP interest in the new fund, no doubt.
Posted on September 18, 2007 08:12 AM | Posted to Venture Capital | Permalink
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