Isomer Capital announces first close of €250 million Isomer Capital III fund

The UK-based private investment firm, Isomer Capital has announced the first close of its new €250 million Isomer Capital III fund, it’s filled one third of the fund quicker than it was expecting. The fund focusses on European venture capital. 

British Business Investments, a commercial subsidiary of the British Business Bank, has committed up to €60 million. “Isomer Capital is a specialist fund of funds manager, with well-established venture and growth capital investment capabilities. Following our support for Isomer’s ICII in 2020 and the Opportunities Fund in 2021, we are pleased to commit to Isomer Capital III to continue our support for innovative growing businesses," says Judith Hartley, CEO of British Business Investments. 

Others involved include the European Commission, Fondaco, Happiness Capital, Italmobiliare, Nikon and PwC Germany.

“Though the current economic climate is challenging, the European technology ecosystem has proven to be resilient, innovative and highly productive, bringing exciting new technology products and businesses to the world at an increasing velocity. Our team has built a strong brand and reputation as a ‘value-add’ limited partner (LP), and the swift progress of Isomer Capital III is a testament to their good work. We will deploy IC III over the next two years, which given the powerful combination of Europe’s maturing talent base and prudent valuations we believe can be some of the best vintage years in the VC sector," says Joe Schorge, Managing Partner at Isomer Capital. 

The fund’s first close was held four months earlier than originally planned - securing access to four early-stage VC firms that held their funds open to welcome Isomer into their own final closes. Making commitments between €5-10 million, and smaller allocation for micro managers, Isomer Capital's coffers fund early-stage VCs and Series A and B for co-investments directly into companies.