Amsterdam-based venture capital firm henQ has launched its fourth fund, henQ 4, with a first close of €70 million. The Dutch VC typically leads pre-seed to Series A rounds in B2B software companies across Europe. In fact many of the firm’s LPs are fellow B2B software entrepreneurs, contributing about half of the new fund.
In its first fund back in 2005, henQ invested early in Mendix, which led to an over $700 million acquisition by Siemens. SEOshop, a portfolio company from henQ 2, was acquired by Lightspeed. Finally, in henQ 3 (which landed at €48 million), the firm invested in 19 companies, of which 70 percent have gone on to secure follow-on funding from other investors.
Only in the third fund did henQ invest outside of the Netherlands: Stockholm’s Stravito. Since then the team has invested in several more companies in Sweden, Denmark, Finland and the UK. The majority of investments from this fund will likely be in Benelux, the Nordics and the Baltics, says the firm.
Along with the new fund, the firm has announced that Jelmer de Jong will join co-founder Coen van Duiven, Jan Andriessen and Mick Mackaay as partner. Jelmer led marketing and product at enterprise software company Backbase for nine years.