London and Barcelona-based venture capital firm Nauta Capital has announced the first closing of its 2015 fund at $70 million (€62 million) with total assets under management valued at $260 million (€230 million).
Nauta Capital, which also has an office in Boston, invests in software companies from Western Europe and the United States with global ambitions.
“_We target businesses operating in large markets where technology has had limited impact to date but show strong prospects of rapid and material change_,” said Carles Ferrer, general partner at Nauta Capital.
Some of Nauta’s investments include Barcelona’s election tech startup Scytl, and UK startups like social media monitoring company Brandwatch and website builder BaseKit. Several UK and continental Europe institutions are involved in this first fund, says Nauta, which includes the British Business Bank’s VC Catalyst Fund.
The investment from the British Business Bank will help Nauta Capital grow its operations in the UK and to invest in more British tech companies, said Ken Cooper, managing director of Venture Capital Solutions at British Business Bank.
Nauta expects its final close to be in the first half of next year with a fund target between $115 and $175 million (€100-155 million). It plans to lead around 25 investments with its new fund over the next five years.
Startups can “grow substantially” with Nauta’s backing, said Ferrer.
“_Our companies use our initial funding to grow very rapidly and will accelerate investment only when appropriate. This aligns interests across the board and maximises returns at all sizes of exits_,” he said.
This fund announcement is the third just this morning, and is the latest in a long line of European fund news:
Swiss-German VC firm b-to-v Partners joins the fundraising craze with a €100 million+ third fund
KLM, Schiphol airport and others launch €18 million fund for transport and aviation startups
Dutch VC firm henQ gets a fresh cash injection, launches its third fund (value: €50 million)
Lakestar announces a new €350 million fund focused on early-stage investments in Europe
Van den Ende & Deitmers morphs into Endeit Capital, launches €107 million fund
An interview with Mike Chalfen of Mosaic Ventures, a new $140m VC fund
New London VC Felix Capital gets $120m to back ‘digital lifestyle’ startups
Harry Briggs leaves Balderton Capital after 6 years to join a new VC fund
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