The venture capital firm that backed the likes of iZettle and Quantexa has launched a $700 million fund for business-to-business software start-ups in what is thought to be the largest early stage fund of its kind in Europe.
London-based Dawn Capital has invested in 80 companies since it was founded in 2007, including Mimecast, the email management company taken private from a Nasdaq listing for $5.8 billion, and iZettle, the maker of mobile card machines for small businesses, which was sold to PayPal for $2.2 billion.
It also backed Quantexa, the software company used by the government to help investigate fraud on the pandemic bounce-back loan scheme.
The fund closed at a “hard cap” earlier this year, with half of commitments from new investors.
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