Dawn Capital raised GBP63 million for the first close of its Dawn Capital II fund. Contributions for the fund came from the UK Future Technologies Fund, the European Investment Fund, and the likes.
For a limited time, the fund would remain open for a few more investors, including other institutions who also committed their interest to the Dawn Capital II fund. These institutions include Capital for Enterprise, European Investment Fund, and the UK Future Technologies Fund.
The Dawn Capital II fund was targeted to software, consumer internet, and business in the cloud sectors as well as financial services technology and platform infrastructure sectors. The fund would be used for investment in technology ventures in the UK and Europe.
The successful first close can be attributable to Dawn's existing portfolio, said Haakon Overli, a general partner at Dawn Capital. With its current portfolio, Dawn Capital's focus would be on Series A investments. Dawn Capital's portfolio included Wonga, Mimecast, and Bathrooms.com. Wonga was a short-term lending company and Mimecast was an email management company.
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