London-headquartered venture capital firm DN Capital has opened an office in Palo Alto, California in the US to help European portfolio companies expand into the US.
Steve Schlenker, managing partner and co-founder of the VC house, which specializes in software and digital media investing, is to re-locate from London to spearhead the team’s efforts in the new office. Fellow co-founder Nenad Marovac will remain managing partner of the London office.
Schlenker said: “While we remain committed to our core European market, we have come to realize that the information flows and expertise in Silicon Valley for our chosen sectors are incredibly deep and valuable. DN Capital has always maintained close professional ties to the US technology markets, and with the new Palo Alto office we will provide a competitive advantage for our portfolio companies.”
DN has a number of US portfolio companies which it also hopes will benefit from having an office close by. US companies include Endeca Technologies, IGA Worldwide and Digital Chocolate. Trip Hawkins, CEO of Digital Chocolate and founder of gaming software giant Electronic Arts, said: “We’re very pleased to have DN Capital in the neighborhood. They are terrific business partners and we enjoy their European vantage point and network of contacts. With the Palo Alto new office we look forward to working more closely together to build our business.”