VC firm Sunstone has raised almost €160 million for two new funds. This includes €112 million for its Sunstone Technology Fund IV and €47 million for Sunstone Progression Alpha, a new fund for investing in growth stages.
Sunstone Technology Fund IV will invest in up to 30 companies and has already made ten investments including London fintech startup Aire and e-sports platform Lillydoo. The Progression Alpha announced is first investment this week by contributing to GetYourGuide’s $75 million round, investing $10 million. The firm was previously a shareholder in the company from the early stages.
“When we invest in an early stage startup we pledge to the entrepreneurs that we will be their trusted companion from the very early days all the way to the exit,” said Jimmy Fussing Nielsen, managing partner.
The Copenhagen-based firm announced the opening of its Paris office, which will be headed up by Yacine Ghalim. It also appointed Deepka Rana, formerly of Bank of America Merrill Lynch’s tech investment team, as an associate in the Berlin office and Brianna Cho as analyst in Copenhagen.