Venture capital firm, Highland Europe, has closed a new €1bn fund to support start-ups, despite the ongoing slowdown in the technology industry
In Brief:
The new fund brings Highland Europe’s total capital raised to €2.75bn and will be used to finance private software and consumer internet companies across Europe
Highland Europe, which was spun off from Highland Capital Partners in 2012, has backed companies such as WeTransfer, Huel, and Contentsquare. It was also a backer of food delivery start-up Wolt, which was acquired by DoorDash in 2021 in a deal valued at €7bn
Investment in private technology markets has decreased after reaching a high point during the pandemic. Last year, €91.6bn was invested in European start-ups, a decline of about 16% from the prior record-breaking year
What does this mean?
The new fund brings Highland Europe’s total capital raised to €2.75bn and will be used to finance private software and consumer internet companies across Europe. The 40% expansion of the fund size indicates confidence from the group’s limited partners in its performance, despite the overall deceleration in the venture capital and technology industry.
