By Red Herring
European investment firm Speedinvest, which focuses on seed-stage startups, has closed a €190m ($206m) fund, with which it will target a number of “deep tech” outfits working across different verticals.
The company, which has offices in London, Berlin, Munich and San Francisco, says its latest round was oversubscribed, and brings Speedinvest’s total assets under management to more than €400m.
The new fund, which will inject between €50,000 and €1.5m ($54,000 – $1.63m), aims to root out deep tech startups working in industries including fintech, health, consumer and industrial. It has ringfenced 40 specialists to work across the verticals.
Companies selected by the fund will also have access to 20 “operational experts” to provide them with expertise on business development, and scaling into the US market. Previous portfolio firms include Berlin mobility outfit TIER, and data book publisher Inkitt.
“Having been a founder myself, I have a clear view on value creation by investors,” said Speedinvest CEO Oliver Holle. “You need to deliver sector-specific, operationally relevant input that goes far beyond boardroom advice and cash. In our experience, the best way to do that is to be face-to-face with our founders.”