London’s B2B software specialist Dawn Capital has announced the close of its second later-stage growth fund at $120 million. The follow on investment fund is slated to issue tickets of up to $30 million in Series C or higher rounds. In combination with its flagship fund, Dawn Capital has raised over $520 million in the last twelve months.
With an impressive portfolio and equally impressive track record of exits, Dawn prides itself on being a hands-on investor, offering experience and long-term support. This later-stage fund is a prime example, and the firm has already made two commitments, participating in Quantexa’s $153 million Series D round, and most recently, Soldo’s $180 million Series C round.
“There has never been a better time to be a B2B founder in Europe. As a market with significant tech and operational talent, a sophisticated investor and adviser network, and a growing catalogue of success stories, the opportunity to build a new class of B2B software leaders has never been greater,” commented Dawn’s Haakon Overli. “We raised our first Opportunities fund and now its successor, as part of our long-standing commitment to our founders, so we can continue to meaningfully support their journeys and back them from Series A to substantial exits.”
The second edition of this later-stage fund saw participation from a number of Dawn’s existing LP base as well as attracting new investors from the US and Europe. Blue-chip institutions investors, including endowment funds, fund of funds, asset managers and family offices, all took part.