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Draper Esprit, a venture capital firm listed in Dublin and London, is badociated with the early Berlin company as part of a merger between the two companies.
Together, the two companies will have the equivalent of one billion euros of funds, one of the largest in Europe, and a portfolio of more than 100 European technology companies.
The partnership is expected to deploy up to 200 million euros a year in seed companies, Series A, B and C. It is expected that there will be between 15 and 20 new transactions per year made by the teams.
As part of this partnership, Draper Esprit has established itself in the Earlybird VI Fund, initially investing 18 million euros with other investments of € 17 million per annum until the end of the year. In 2022. The companies have also agreed to share capital flows, investment resources and expertise to co-invest together in fast-growing European companies.
Earlybird is one of the most active venture capital partnerships in Europe. Investment professionals managing more than 1 billion euros. He has invested in several leading technology companies such as N26, Smava, UI Path and Peak Games.
The Earlybird VI fund will have total commitments of 175 million euros, of which 36 million have already been invested to date in 13 companies. Shapeshift, Everoad, Movinga, Fraugster, Medidate, Xain and Crossengage are among the first companies in the fund.
Draper Esprit, who has already supported a number of leading Irish technology companies such as Movidius and Clavis Insight, has also announced 64,820 new shares to benefit Earlybird partners in exchange for a minority stake in the management company of the fund.
"We have been working with Earlybird's partners as co-investors and industry members for many years and respect tremendously the VC leader position they've built in Germany and across the globe. Continental Europe With our combined resources as true partners, we will be able to help European entrepreneurs to further increase their global ambitions, "said Simon Cook, managing director and co-founder of Draper Esprit.
Since its IPO in June 2016, Draper Esprit has financed more than 25 new businesses, increased its gross portfolio value by 209% and realized more than 57 million pounds of cash, including escrow for investors
Draper announced plans to raise 176 million pounds (200 million euros) of long-term capital to allow others to invest at the end of May
. in funding rounds for AirCall, Realeyes, Evonetix, Ledger and Revolut.
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