DFJ Esprit closed $100 million toward its $215 million target for its third VC fund, raisinging commitments from the
“We are delighted to be able to announce two new funds in the current economic climate,” says DFJ Esprit CEO Simon Cook.
Rightfully so, European venture funds raised $4.5 billion from limited partners during the first half of 2009, down more than 52% from the same period during 2008, according to data from Thomson Reuters (publisher of PE Week).
Other major firms to raise funds in Europe this year include
DFJ Esprit’s nascent secondary operation also raised a fund, called Encore I, which topped out at $280 million, the firm announced. Investors include
In addition, the secondary group made its first investment, acquiring
In acquiriing the assets from 3i, DFJ Esprit said that support will include significant follow-on capital.
Some of the 3i assets acquired include Bristol, U.K.-based chip-maker Icera Semiconductors, which has raised $270 million from venture capitalists; Elstree, U.K.-based synthetic bone maker ApaTech, which has raised $99 million from VCs; and London-based wireless broadband maker The Cloud, which has raised $32 million from VCs, according to Thomson Reuters
The sale mirrors a secondary sale earlier this year in which 3i sold 10 assets to