Crane Venture Partners aims to sweep the leg with new $140 million fund

After posting a >75 percent graduation rate from seed to Series A with its first fund, London’s Crane Venture Partners is back for round two; armed with $140 million and aimed squarely at backing European, Israeli, and American startups. Across both funds, the firm counts over 50 portfolio companies and is looking to repeat, if not improve upon this industry-leading figure.

Crane’s second fund places a heavy emphasis on software and deep tech startups, specifically operating in the open-source, artificial intelligence, data and developer tools sectors.

“The future is being built today by passionate and diverse entrepreneurs from every corner of the world, and our funds focus on exactly those humans,” commented Crane co-founder and GP Krishna Visvanathan, co-founder. “We are in service of our founders and understand that entrepreneurship is a path to professional and personal realisation. When we focus there, the returns naturally follow.” 

Founded in 2015, Crane specifically points to the last five years as a game-changer when it comes to European early-stage investment appetite. 

“When Crane raised its first fund, European and US investors had yet to recognise the caliber and depth of early-stage technical founders to be found across the continent. But with highly visible and successful exits for European technology companies, such as Amsterdam-based Adyen in 2018 and Bucharest-based UiPath in 2021, LPs and other venture capital ecosystem participants have started to invest heavily in the region.”

While Crane’s first fund saw 60 percent of investments in the UK, 20 percent in Germany, and 10 percent in Swiss companies, with its second fund, the firm is narrowing its investment focus, while allocating 50 percent of investments in the UK, with the rest being spread across Europe, Israel, and the U.S.

Deployment of this second fund is already well underway, seeing some 20+ investments in companies including Encord, Encore, Novu, Nuclia, Qovery, Restack, SeeChange, and Veratrak.

Crane’s $140 million fund is anchored by LPs including Massachusetts Mutual Life Insurance Company (MassMutual), British Patient Capital, an undisclosed Sovereign Wealth Fund, and Fund of Funds.

“With a three-part equal focus on financial returns, empowering founders in their personal and professional lives, and supporting the digital world of tomorrow, Crane is well-positioned to build upon the success it has realized over the past several years,” concluded MassMutual’s Tim Corbett.