DTCP Closes USD 350 Million Venture and Growth Fund Including Capital From Institutional and Corporate Investors
DTCP announced today that it has secured additional capital commitments from two corporate sponsors for its second Venture and Growth Fund: SK Telecom, the largest mobile operator in Korea and frontrunner in the fields of mobile network, AI, IoT, media and platform services, and ZEISS, an internationally leading technology enterprise operating in the fields of optics and optoelectronics, headquartered in Germany. The new investors join Deutsche Telekom, HarbourVest Partners, Neuberger Berman private equity fund sand others as Limited Partners (LPs) in the fund which boasts total commitments of USD 350 million and is now closed for further investors.
The fund looks to deploy tickets between USD 5 and 50 million into Enterprise SaaS companies that: (i) operate in the sectors Cloud and Network Infrastructure, 5G/IoT, Digital Enterprise, Cybersecurity, Artificial Intelligence, and Marketing Technology; (ii) typically feature annualized recurring revenues of USD 5 million or more and (iii) base their business model on strong underlying technology.
“In addition to Deutsche Telekom’s continued support and trust, we are delighted that two additional investors have joined our existing investor base, contributing a substantial amount of capital. This is an important milestone in DTCP’s development from a single LP into a multi LP technology investment platform. Our first venture and growth fund’s track record since inception in 2015 has helped us attract top-tier corporate and financial investors, and we are delighted to welcome our new partners,” said Vicente Vento, cofounder and CEO of DTCP. “The larger-sized fund will enable us to increase our involvement with top-tier deep-tech software companies in our investment scope, and the new collaboration with SK Telecom will allow us to expand our geographic reach into Asia.”
DTCP has already deployed capital in five companies from its second-generation fund. It led the Series F financing in cloud platform company Fastly, which recently went public on the NYSE (FSLY), and joined financing rounds in employee communication and engagement platform Dynamic Signal, light-touch sales platform Pipedrive, cloud and data center security innovator Guardicore, as well as a US Web and mobile analytics company.
“Over the last few years digital transformation has massively accelerated in the enterprise segment around the world. We already had four successful exits from our first venture and growth fund portfolio,” said Jack Young, Head of Venture/Growth and Managing Partner at DTCP. “DTCP wants to continue to capitalize on this strong trend.”
DTCP invests across the capital structure through different funds and offers companies financial and advisory solutions tailored to their needs. It combines the best of two worlds: the agility, flexibility and entrepreneurial mindset of an autonomous investment vehicle with the strength, resources, and reach of powerful corporate sponsors.
DTCP believes in the disruptive power of technology and invests in the technology leaders of the connected world. DTCP operates as a bridge between Europe, Silicon Valley, and Israel, and is planning to open an office in Seoul (South Korea) during the course of 2019.
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