Shazam and Purplebricks investor DN Capital has raised €200 million for its fourth fund, targeted at early stage startups in the UK, Western Europe, and the US.
Like rival fund Balderton Capital, DN Capital has bucked a post-Brexit trend and secured funding from the European Investment Fund.
CEO Nenad Marovac believes post-Brexit uncertainty is bad for the tech sector and thinks it will probably discourage talent from coming to the UK.
London-based venture capital firm DN Capital has raised €200 million (£175 million, $248 million) for its fourth investment fund, targeted at early-stage startups.
The fund is DN Capital’s biggest to date, with money from a mix of institutional investors, family offices, and high net worth individuals. Europe’s fund-of-funds, the European Investment Fund, has also invested.
DN Capital is one of the most established venture firms in Europe, founded in 2000 by current managing partners Nenad Marovac and Steve Schlenker. It has funded firms such as music recognition company Shazam, acquired by Apple for a reported $400 million (£281 million), online estate agents Purplebricks, and used car marketplace Auto1.
Two-thirds of the new fund will be targeted at startups in Western Europe, with the rest going to US companies.
Like other senior figures in the …read more
Source:: Businessinsider – Technology
NASA Chooses Spacex To Launch A Self Propelled Space Station To The Moon