Dutch growth capital Indit Capital raised € 250 million to invest in European startups in Phase B +. This is the third and largest investment fund, Endeit Capital III. The company says it plans to support European companies that “lead to an accelerated digital transformation of European society and economy and, in fact, the digital maturity of Europe”.
Indit was a relatively early European investor, starting in 2006, investing in 35 companies. It previously raised and invested € 250 million through its first two funds, in the Benelux, DACH and Nordic regions.
The company has previously invested in companies such as 3D Hubs, Roamler, Albelli, MetrixLab, Unamic and Eyeworks, Gastrofix, Comtravo, Contorion, Chronext, Tourradar, Smartclip, Nordics Blis, Unruly, and Leadfeeder. Many of its portfolio companies have exited into companies such as Time Warner, Xerox, Newscorp, Protolabs, Lightspeed, Macromill, TMG, and Cimpress. Endeit Capital’s Bux Capital, a new broker in Europe, raised $ 80 million.
It joins a host of new venture capital and growth funds in Europe such as the new funds from Cusp Capital and Highland Europe.
The news is good for European late-stage companies. While European capital in the early stages has been in a state of disruption a few years ago, the late-stage capital of Europe is usually lacking.
Founder and Managing Partner Hubert Deitmers said: “This third round of funding was a great success, as we were able to establish the fund in a short time frame in a“ first and final close ”, despite Corona. It is worthwhile to see that ten entrepreneurs have already invested They are now investing themselves in this third fund. “
He says Endeit’s explicit goal is to strengthen European companies against the great powers of the United States and China: “We support online entrepreneurs who can drive change to make Europe more competitive and who have the ambition to become global market leaders … The next generation of companies will be accelerated “European Internet through basic technologies, such as machine learning, artificial intelligence and quantum computing. We are absolutely convinced that we need to develop this knowledge within Europe and we want to help ensure that European companies developing these technologies find the right environment in their domestic markets, not outside Europe.”
Endeit has emerged from Endemol, the leading media giant of the past 25 years. Deitmers and Endeit co-founder Martijn Hamann built Endemol from the Netherlands into a global publicly listed company, acquiring more than 80 companies along the way. Endemol was subsequently sold for many billions.
Hamann added: “Every aspect of Endeit Capital is focused on helping the entrepreneurs who are shaping the future of the internet to move forward quickly. We are looking for entrepreneurs with a solid product and unwavering drive to build market leading sites with us.
Talking to me via zoom, Dietmeyers said: “We have been an investor across the border for a long time. There is strong cross-fertilization between the Netherlands and Germany. It’s different from London or Paris, which are like central magnets. What you see in Germany is a very decentralized ecosystem, you have a center.” Munich, you have a center in Cologne, you have Berlin, Hamburg. Then there is Zurich, Vienna. So there are several hubs in the area. And that’s fine, and I think it is all over Europe too. And you now have multiple hubs as I showed in TechCrunch’s survey of the city. There are more and more cities that are popping up for their specialties like Rotterdam or Hamburg in the field of logistics technology.
Does he see any effects of Brexit ?: “I think in terms of fintech you are seeing some changes in Amsterdam, Frankfurt and Paris. I think Amsterdam in particular is benefiting a little from the fintech boost. We just closed a deal last week in a new bank there. Financial centers change little. “