Highland Europe raises €332 million fund to back growth-stage startups

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Highland Europe has raised a new €332 million investment fund focused on growth-stage European tech startups. The European arm of Highland Capital Partners intends to invest between €10 and €30 million per deal. It has previously invested in Amsterdam’s WeTransfer and Germany’s Finanzcheck.

The firm’s European partners Fergal Mullen, Laurence Garrett, Irena Goldenberg, Sam Brooks, and Tony Zappala said they are targeting this second fund at emerging growth-stage internet, mobile, and software startups across the continent that have reached a high revenue scale in a short period of time.

All investors from the first €250 million fund in 2012 have returned for the second fund, said Mullen, with many increasing their commitment.

Partner Laurence Garrett added that Europe’s early stage investment market is well-funded but there is a gap in the venture and growth-stage market, which Highland Europe wants to fill.

“In the past, deals requiring investment of €10M - €30M were over-syndicated by European investors prompting many entrepreneurs to seek capital in the US,” he said. “Highland Europe is simply meeting a market need within the venture capital and growth-capital eco-system.”

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