HV Capital launches new fund

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

Munich-based early-stage and growth investor HV Capital has launched a so-called continuation fund in the tech sector. According to the company, it is the first venture capitalist 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 is designed to enable HV Capital to continue supporting portfolio companies from existing funds and to take advantage of growth options as they arise. HV Capital announces: All existing investments from 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, among others, have been transferred from existing funds to a new structure," says Martin Weber, General Partner at HV Capital. "This provides more room to support the portfolio companies over the long term."

Investors in the fund include Harbourvest, LGT Capital Partners and several family offices and financial institutions. Once again, Pathway Capital and Holtzbrinck Publishing Group participated. Campbell Lutyens served as financial advisor on the transaction.

HV Capital has already invested in around 225 companies. Among them were Zalando, Delivery Hero, FlixMobility, Depop and Sumup. The company supports startups with capital between 500,000 and 50 million euros.