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Earlybird Venture Capital closes sixth early-stage tech fund on €175m

The sixth “Digital West” early stage fund closes above target at the €175 million hard cap. Earlybird Venture Capital currently manages over €1 billion in assets under management.

Earlybird Venture Capital closes its sixth “Digital West” early stage fund above target at €175 million hard cap to continue focusing on disruptive technology companies originating from Europe. The firm’s sixth fund was oversubscribed with key institutional limited partners and large corporate companies. Public investors are not involved in the current fund. The new fund brings Earlybird's total capital under management to one billion euros and strengthens its position as one of Europe’s leading venture capital firms.

The closing of the new fund adds to a series of successes in Earlybird’s existing portfolio, such as the recent $160 million funding of the mobile banking company N26, UiPath’s unicorn status with a valuation of more than one billion dollar, and the successful initial public offering of NFON (Frankfurt Prime, NFNX:GER).

Dr. Christian Nagel, co-founder and partner at Earlybird, says: “As the invested companies provide industry expertise, networks and capital, we can not only assure high returns, but also help them to get access to innovation and technology—which is becoming increasingly important."

Earlybird’s positive momentum reflects the increasing vitalization of the European venture capital market. Dr. Hendrik Brandis, founding partner at Earlybird, still sees untapped potential: “In view of the growing opportunities of the global digitalization, the European VC market is still undersupplied. Compared to the USA, only about 15 percent of the venture capital is available per capita. Accordingly, the opportunities for active venture capital investors are better in Europe."

MCAM Group acted as placement agent for the fund.

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