Tquila launches its Paloma fund with $40m investment

Technology and investment company Tquila has raised $40M for its Paloma fund, which will enable it to launch the fund and initiate investments in startups across a range of verticals and geographies. The fund is two-thirds of the way to its target of $60M.

Tquila is a corporate development and technology company founded by James McHugh in 2010, initially with an investment in a UK-based Salesforce consultancy, a joint venture with Salesforce, and producing cloud software that was acquired by Accenture in 2015.

The investor backs companies from seed through to exit, either as stand-alone entities or with co-investment from consulting technology firms and software companies. Its current portfolio includes businesses focused on Data, AI, ServiceNow, Microsoft Dynamics, Google Cloud, Salesforce, UiPath, AWS and Snowflake.

Carsten Jorgensen will Chair the Paloma Fund and said that “The Paloma Fund reaching a solid first close in under six months is testimony to the unique opportunity Tquila offers investors and clients to partner with the in-demand software companies, and to a committed and talented group of tech entrepreneurs.”

James McHugh, founder and CEO of Tquila, former founder, CEO and Chairman of K2 Partnering Solutions said, “We are fortunate to have a world class team of entrepreneurs invested with, as advisors to, and as partners of — our inaugural fund.

All of us at Tquila are delighted to be working with Carsten and the Paloma Fund team. The experience, focus and professionalism they’ve brought to the group has allowed us to accelerate our opportunity and with that, growth.”