London investment firm Isomer Capital has launched a €150 million investment fund for early stage European tech startups.
According to Isomer, US investors account for much of European startups’ capital in financing rounds over $10 million while over 33,000 new European companies gain initial funding from business angels and high net worth individuals.
“Europe is building a new generation of high growth technology companies, formed by experienced technologists and serial entrepreneurs at higher volumes, quality and ambition levels than ever before,” Joe Schorge, founder of Isomer Capital. “The opportunity has outstripped the supply of capital and Isomer is seeking to exploit this demand/supply imbalance by working with some of the most inspiring fund and company entrepreneurs.”
Isomer is run by Schorge, formerly of Pomona Capital and Cambridge Associates, and Chris Wade, former founder and CEO of Cambridge Positioning Systems.
They plan to broker deals in limited partner investments, company co-investments and providing liquidity to companies through secondary purchases. They have already made commitments with several European VCs including Hoxton Ventures, White Star Capital, Entrepreneur First, Felix Capital and Connect Ventures.
“We operate as a network of networks to help all our partners prosper; bringing opportunities, capital, expertise, contacts and assistance to our GPs, LPs, and investee companies alike. Isomer will seek to represent the new face of Venture Capital in Europe,” said Schorge.
According to the firm, it currently has a portfolio of 96 companies from nine countries. It has invested in cyber security company Darktrace, burgeoning on-demand food delivery service Deliveroo, and e-commerce platform Yieldify.