GP Bullhound, a London-based technology advisory and investment firm, has closed oversubscribed Fund V at €300M (approx £257M) hard cap.
The investment banking company initially targeted €200M however, later extended the fund size due to strong demand from tech entrepreneurs, family offices, and institutions in Europe and the US.
Fund V is a pan-European venture capital fund targeting primarily late-stage digital economy investments, focussing on the UK, Spain, Sweden, Germany, and France.
As per the company’s claims, 90% of all Fund IV investors followed into Fund V, which had a stellar performance.
With Fund V, the company will continue to invest in absolute category leaders in tech with investments in DuckDuckGo, Discord, Patreon, Vivino, Revolut, and Klarna, to name a few.
Per Roman, Co-founder and Head of Asset Management at GP Bullhound, commented: “We do everything we can to identify and invest in the world’s best software applications. It is a particular pleasure to have so many established and famous software entrepreneurs backing us with their capital in this never-ending mission.”
Joakim Dal and Ben Prade, Partners at GP Bullhound, added: “The unique access we have via our 10 offices and 150 people on the ground means our funds can choose from the most exciting stories in tech and offer compelling co-investment opportunities. The hard cap meant some investors missed out, but we will be back soon!”
The company’s investments include Klarna, Believe, Revolut, Unity, HackerOne, Glovo, RavenPack, and Interactive Investor. On the other hand, recent exits are Spotify, Slack, LeoVegas, and gaming company Quixel.
About GP Bullhound
The UK company provides transaction advice and capital to entrepreneurs and founders. It provides strategic advice on mergers and acquisitions and private placements to entrepreneurs, companies, and investors.
GP Bullhound has completed transactions with many category leaders across Europe, the US, and Asia, including Avito, Delivery Hero, Fjord, King.com, Pingdom, Pozitron, and Spotify.
Founded in 1999 in London and Menlo Park, the firm today has 10 offices spanning Europe, the US, and Asia. GP Bullhound says its late-stage venture strategy has delivered 38.8% net IRR.