Highland Europe has announced the close of its fifth fund at €1 billion. The London-HQ’d fund that focuses on investments in high-growth European internet, mobile, and software companies and have over €10 million in annualised revenues, plans to double down on this strategy with the new fund.
The €1 billion in fund V arrives only 2 short years since the company’s healthy €700 million fourth fund was announced in December of 2020, and now brings the firm’s total captial raised to €2.75 billion.
Needless to say, assembling a €1 billion fund, even over the requisite time period, one that saw the bottom begin to drop out of what is now nothing short of a choppy-waters market is a strong vote of confidence in the firm from LPs.
As for European investments, Highland Europe’s most recent activity includes leading a $24 million round that backed UK-based vegan, lactose-free, and soya-free nutritional bars, supplements, and meal-replacement shakes maker Huel in Early December and participating in Parisian customer experience platform Contentsquare’s $400 million Series F round that saw the company valued at $5.6 billion last July.
“We want to thank all of those European founders who chose to partner with us over the past ten years. It is their ambition, talent and drive that inspires us as we build category-defining businesses together. Current market conditions are not easy, but our founder-led companies continue to scale impressively and efficiently, with several world-leaders in the mix. We’re pleased that our investors share our conviction and thank them for their continued trust,” commented Highland Europe Partner Fergal Mullen.