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Dawn Capital has made a name for itself over the last several years for having a sharp eye when it comes to spotting interesting B2B startups in Europe before they become big, with companies like iZettle (acquired by PayPal last year for $2.2 billion), Mimecast (IPO’d and now worth $2.8 billion), Collibra and Showpad among its stable. Today, it’s announcing the close of a new fund that will help it capitalise on those growing bets more directly itself.
The $125 million Opportunities Fund, as it is called, will be used by Dawn to make larger investments in a smaller, cherry-picked selection of startups that it has already backed in earlier stages. It comes on the heels of Dawn also closing a bigger fund of $235 million, Dawn III, for those Series A and B rounds, and brings the total raised by the firm to $360 million for the year.
Dawn - Partner - VCs - Rounds - Portfolio
Dawn will continue to partner up with larger VCs that have led many of the later-stage rounds in its portfolio companies — follow-on investor names that have been involved in multiple Dawn companies have included Insight, Index Ventures, KPCB, Battery Ventures and Iconiq — but now it will also occasionally be taking a leading role in the rounds, or at least making investments on par with those of the partners.
The move to making bets of tens of millions on a smaller group of companies at Series C stage and beyond is part of Dawn’s ethos to provide not just money, but advice and assistance to founders to help them realise opportunities and grow into them.
Founders - Haakon - Overli - General - Partner
“We exist to serve our founders,” said Haakon Overli, the General Partner who co-founded Dawn Capital with Norman Fiore. “They are much better at doing their jobs than the founders of 25 years ago, and we don’t want them...
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