Today Oxx, a specialist investor in European B2B SaaS companies at the scale-up stage, has closed its second fund generation at $190 million.
Richard Anton and Mikael Johnsson co-found the firm. It invests in companies that have reached Product-Market fit and helps them unlock and navigate the Go-to-Market fit stage to achieve explosive growth.
Headquartered in London and Stockholm, Oxx’s specific focus is on the scale-up stage in Europe. It asserts that ,any SaaS companies building profound and sophisticated products don’t come flying out of the gates commercially, but instead spend a period experimenting and adapting as they take the time to find Product-Market fit.
Though once Product-Market fit is found, rapid acceleration can take place as long as they can secure the required growth capital to do so.
In Europe, access to capital for these businesses is not at the same level as in the US, which presents a great opportunity for skilled investors.
Oxx’s portfolio includes Funnel, Goodlord, and Gravitee, with the fund being supported by LPs such as British Patient Capital, Saminvest, KfW Capital, Argentum, Pool Re and Coeli.
Several new LPs are joining its second fund generation.
Mikael Johnsson, General Partner of Oxx, says:
Technological development has pushed innovation through various paradigms – from on-premise to cloud, to a hybrid model. We are now at an inflection point, entering the early innings of the AI paradigm of SaaS.
AI is not merely hype, it is the technological driver underpinning a structural shift and spurring another tidal wave of innovation, driving migration from incumbent legacy systems and applications.
With this fund, we are solidifying Oxx as a partner and producer of standout SaaS companies for the long term.”
Richard Anton, General Partner asserts:
“We believe the best VCs are in it to create long-term value, not merely ride on the coattails of short-term momentum; and the best companies will prioritise pragmatism, ambition and persistence.
We look forward to partnering with the next generation of European SaaS founders and helping them build a pathway to global scale.”
Lead image: Oxx General Partners Richard Anton and Mikael Johnsson. Photo: Uncredited.
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