– Amadeus first closing at GBP100m

Amadeus Capital Partners has had the first closing – at GBP100 million (EURO150 million) – of its second fund, Amadeus II. The eventual close to be capped at GBP200 million but targeted for GBP125 million is expected by year-end. Seventy per cent of investors in Amadeus II articipated in Amadeus I, which was just GBP50 million in total. Repeat investors for Amadeus II include BankAmerica, European Investment Fund, Dresdner Kleinwort Benson, Gilde, Lazard, and LMS Capital. And new investors include Abbey National Treasury Services, Access Capital Partners, AXA, and CDB WebTech – see company profile page XX.

Amadeus I had a total of 24 investments that included Mediasurface, a European web-content management software provider, and Whereonearth.com the creator and maintainer of a globally consistent geographic database used for GIS and other digital mapping applications. Amadeus Capital Partners concentrates on early-stage technology investment.

Amadeus II has already started investing – taking part in a business angel-led consortium of investors that raised start up funding of $55 million for Southampton Photonic. Amadeus Capital Partners was the only UK venture capital firm in this consortium and was picked, says Southampton Photonics’ president, because of its Silicon Valley-style of investment management. See venture capital news this issue for details of the funding structure on this deal.