European venture capital firm Frontline has announced a new $80 million fund, FrontlineX, for B2B tech companies. Based in London and Dublin, the firm typically invests in European seed-stage startups. With this fund, the firm will back US businesses looking to expand into Europe.

“We’ve benchmarked the best of B2B software and seen that, by the time a company goes public, 30 percent of its revenue should be coming from Europe. But even the biggest names in tech fail to get there because of avoidable mistakes when they land,” explained Stephen McIntyre, a partner of the firm co-leading the new fund with Brennan O’Donnell, who is based in San Francisco.

FrontlineX will invest up to $5 million alongside lead investors in Series B, C or D rounds, and help portfolio companies to implement tailored strategies for European expansion.

Investments so far include the Series B of TripActions, a company that has gone on to raise from Andreessen Horowitz at a $4 billion valuation; People.ai’s $100 million Series C together with Lightspeed, Andreessen Horowitz and ICONIQ; and Clearbanc’s $50 million Series B with Emergence and Highland.

Founded in 2012, the firm now has over $200 million in assets under management.

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