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Europe is routinely castigated by tech diligence observers for consume too few “ development Das Kapital ” funds , and , compare to the U.S. , that ’s true . That tell , it is nowhere near nonexistent on this front . To wag : Growth fairness investor Kennet of London just announced it has raised € 266 million for its largest monetary fund to date , Kennet VI , which is already being deploy into B2B SaaS fellowship across Europe .
Kennet focuses exclusively on backing prove B2B SaaS startup that are beginner - owned and either highly capital efficient or fully bootstrapped , meaning they ’re establish without extraneous capital . A good example of this is the conference networking app Grip , which raised $ 13 million in 2021 , with Kennetleadingthe round .
The Kennet VI store follow the previous five funds Kennet has operate over the last 25 yr . Its most recent release was with Eloomi in January 2024 . The scholarship experience program was acquired by floated software company Ceridian . Kennet said this generated a 3.1x cash multiple .
Earlier ( numerous ) issue let in Nuxeo ( a 5x exit ) , Dext ( 3.8x ) , CrossBorder Solutions ( 6.4x ) , Rimilia ( 2.5x ) , and Impartner ( 2.6x ) .
investment funds from Kennet is typically the first external backing that companies obtain and is used to surmount and expand internationally , build macrocosm - class direction teams , and amass strategic value .
In an interview with TechCrunch , Hillel Zidel , managing director , Kennet Partners , enjoin : “ This new fund is very consistent with what we ’ve done in the anterior funds , which is B2B software program focus on bootstrapped and uppercase effective companies at the growth stage .
“ We ’re probably the only group with an sole focal point on this category . And with each client , we just require to do more and more in condition of , you bang , being of service to bootstrap founders . The way out we ’ve had demonstrate that if you enthrone in good business that have strategical value , you ’re not dependent on a particular market cycle to be able to exit successfully . ”
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The Kennet VI monetary fund was raised in partnership with cornerstone investor Edmond de Rothschild Private Equity , which started investing in the monetary fund in 2017 . Bpifrance , British Patient Capital and Federated Hermes Private Equity also committed to the fund .
There ’s been a rise in increase funds in Europe . Earlier this year Index Venturesannounced$2.3 billion in new funds , spread across different stages , with $ 800 million dedicated to venture investment funds and $ 1.5 billion set aside for growth- and late - stage caller .
Aside from normal venture capital , the often quieter “ ontogenesis Washington ” sector can oftentimes see great returns for entrepreneur who prefer to retain a lot of ownership and control but are also willing to bootstrap over a longer menstruum in lodge to reach revenues and lucre .
