Dutch-British VC firm Keen Ventures just opened a new fund, worth 90 million, to invest in technology companies. The new fund wants to provide early growth capital for technology companies across Europe, with a particular focus on ICT-companies in the UK, Netherlands, Sweden and Germany.
In addition, the fund will consider North American-based technology companies looking to expand into Europe, investing 5 million euro to 10 million euro per company. Key investors include ING Netherlands and KPN Ventures in addition to several private investors and entrepreneurs. Keen is targeting a final close in 2017.
European Investment Fund
The fund is also backed by the EU trough the European Investment Fund and the Dutch government via the Dutch Venture Initiative (DVI).
Keen Ventures was set up by Ben Verwaayen, former CEO of BT and Alcatel-Lucent, his son Robert Verwaayen and Alexander Ribbink, former COO of TomTom.
Keen looks to invest in companies operating in specific areas of information and communications. “This new fund is the first from Keen Venture Partners and we are pleased with the exceptional range of high-profile institutional and private investors, demonstrating a high level of confidence in the new fund”, Robert Verwaayen said in a statement.