Munich, Germany-based Holtzbrinck Ventures has closed its fourth fund, at €177m.
HV Holtzbrinck Ventures Fund IV, which will now operate as a fully independent venture fund, will continue to execute the company’s strategy of investing in early stage companies within the new media sector mainly across Germany, Austria and Switzerland.
A dedicated portion of capital will be available for seed investments, via a “fast forward” program.
The capital was raised by both Verlagsgruppe Georg von Holtzbrinck and funds managed by HarbourVest Partners.
As part of the fundraising, Holtzbrinck contributed a large part of its existing new media portfolio to Fund IV and the Holtzbrinck Ventures team will continue managing the portfolio under the current brand in the newly formed entity.
FinSMEs
11/01/2011