Crane Venture Partners, a London, UK-based early stage venture capital firm, closed its second fund, at $140 million.
Anchor LPs include Massachusetts Mutual Life Insurance Company (MassMutual), British Patient Capital, a Sovereign Wealth Fund and Fund of Funds.
The fund focuses on the open source, artificial intelligence, data and developer tools being used to build the world’s digital foundations. The firm’s partners, led by co-founders Krishna Visvanathan and Scott Sage, work as extended members of founders’ teams, particularly in the areas of marketing, sales and customer success.
It is expected to put 50 percent of investments in the UK, with the rest being spread across Europe, Israel and the U.S. Nearly 20 companies are already included in Crane’s second fund, including Encord, Encore, Novu, Nuclia, Qovery, Restack, SeeChange and Veratrak.
Crane has tightened its investment focus while expanding its geographic reach with its second fund. The first fund included 60 percent of investments in the UK, 20 percent in Germany and 10 percent in Swiss companies.
Founded in 2015, Crane Venture Partners raised $90 million for its first fund in 2019.
FinSMEs
25/05/2022