Acton Capital has closed a new $240m (€225m) fund to invest in startups across Europe and Canada.
In brief:
-The venture capital firm, which has previously invested in Mambu and iwoca, is looking at companies with proven business models at the early growth stage.
-It plans to invest in 6-8 deals per year, running from €3-10m.
-The new fund is Acton Capital’s largest fund since it launched in 1999.
What does this mean?
“We have always focused on growth that is driven by reason rather than short-term momentum. We are launching Acton VI in a market environment where this approach is more crucial than ever. In the current market cycle, the need to balance an attractive growth profile and solid financial fundamentals will be of paramount importance,” managing partner at Acton Capital, Dominik Alvermann, said.
