Dawn Capital, a London, UK-based B2B software investor, raised $700M for two funds.
The fundraise included
- the $620m flagship fund Dawn V, a dedicated early-stage B2B software fund which will back European software innovators at Series A and B stage with initial investments of $10m to $40m, and provide capital for follow-on rounds;
- an $80m follow-on fund, Dawn Opportunities III, a later-stage fund raised to strengthen Dawn’s ability to invest in its sector winners from Series C stage onwards.
Together, the funds will enable the firm to continue to back European B2B software companies from Series A all the way to exit.
The firm has already made three exciting investments from Dawn V, including tax compliance platform Fonoa, embedded insurance platform Cover Genius, and application modernisation platform FlowX.AI.
Led by General Partners Josh Bell, Norman Fiore, Haakon Overli and Evgenia Plotnikova, and its team of 35 investors, proven entrepreneurs, business strategists and operational specialists, Dawn is a specialist B2B software investor, with total commitments of $2.0bn. The firm partners with founders building global software leaders, supporting them to create teams, technology and scalable business models to create category-defining global companies. Dawn is an early-stage investor, backing companies from Series A and B, and continuing to fund the top-performing through growth rounds to exit.
Its roster of investments includes Mimecast (formerly NASDAQ-listed, taken private by Permira in a $5.8bn transaction), iZettle (sold to PayPal for $2.2bn cash), Tink (purchased by Visa for $2.0bn), LeanIX (recently acquired by SAP), as well as current market-leaders, Collibra, Dataiku, Quantexa, Minute Media, Copper, Elwood, Gelato and Soldo, amongst others.
On the back of the fundraise, the firm has promoted its Head of Investor Relations and Marketing, Hannah Gubbins, to Partner.
FinSMEs
25/09/2023