Munich-headquartered growth stage technology firm Cipio Partners has wrapped up its latest fund with €202 million. Cipio VIII will follow the same investment strategy as its €174 million predecessor fund, CPF VII, which held a final closing in 2017.
According to Roland Dennert, managing partner, Cipio, the company will typically make an initial investment of €5-15 million in each firm. Giving more details about the sectors that will be backed by the recently closed fund, Dennert added: “The fund will focus on B2B SaaS and software-enabled business models such as marketplaces. It will also invest in deep tech businesses such as semiconductors. The current deal activities are particularly strong in big data, cyber security, AI and industrial software applications.”
The new fund has already completed two investments in European growth companies: Nuki, the Austrian smart-home developer, and Navvis, the Munich-based global leader in end-to-end solutions for reality capture and ‘digital twins’.
The company expects to have approximately 16 firms in its kitty across Europe in Germany, France and Nordics, U.K. or Ireland, in CPF VIII, which is the same number as in the predecessor fund.
Support for CPF VIII came from a combination of institutional and family office investors across Europe and the U.S. and include almost all investors from CPF VII. Institutional investors include sovereign investors as well as several European banks and insurance companies.
Diana Meyel, managing partner, Cipio concluded: “The increased fund size and strong backing by institutional and family office investors marks a major milestone for Cipio and is a testament to Cipio’s performance, the quality of our team and our leadership in the rapidly expanding European growth-equity market.”