HV Capital launches new fund

The company intends to use the fund to continue supporting portfolio companies from existing funds.

The Munich-based early-stage and growth investor HV Capital has launched a so-called continuation fund in the tech sector. According to its own information, the company is the first venture capital investor in Germany to take this step. The fund has a volume of over 430 million euros. The continuation fund is called HV Coco Growth.

What are the benefits of such a continuation fund? It will enable HV Capital to continue to support portfolio companies from existing funds and to take advantage of growth opportunities that present themselves. HV Capital announces: All existing investments of the three funds HV IV, HV V and HV Coinvestment Fund from 2010 to 2015 are to be taken over.

"With HV Coco Growth, our strong investments such as Flixmobility, Global Savings Group and Sumup have been transferred from existing funds to a new structure," says Martin Weber, General Partner at HV Capital. "This gives us more scope to support the portfolio companies in the long term."

The fund's investors include Harbourvest, LGT Capital Partners as well as several family offices and financial institutions. Pathway Capital and the Holtzbrinck Publishing Group again participated. Campbell Lutyens acted as financial advisor on the transaction.

HV Capital has already invested in around 225 companies. These include Zalando, Delivery Hero, FlixMobility, Depop and Sumup. The company supports start-ups with capital of between 500,000 and 50 million euros.