Closing of Holtzbrinck Ventures Fund at EUR177mBy Holtzbrinck Ventures Gmbh, PRNE
Monday, January 10, 2011
German Startup Scene Gets Major Boost by Holtzbrinck Ventures Investment
MUNICH, January 11, 2011 - Holtzbrinck Ventures is pleased to confirm that it has closed
its fourth Fund, HV Holtzbrinck Ventures Fund IV at EUR177m, raising capital
from both Verlagsgruppe Georg von Holtzbrinck ("Holtzbrinck") and funds
managed by HarbourVest Partners, LLC ("HarbourVest").
Holtzbrinck Ventures will continue to execute its strategy of
investing in promising early stage companies within the new media sector,
which has been consistently successful over the last 12 Years.
Holtzbrinck Ventures is also pleased to announce that it will
now operate as a fully independent venture fund. Taking this step,
Holtzbrinck Ventures becomes the leading independent seed investor in
Germany, Austria and Switzerland. Holtzbrinck will continue its strong
support of Holtzbrinck Ventures through its investment in the new Fund.
Holtzbrinck Ventures has invested in over 80 new media companies since 1998
and has founded companies like Parship and Experteer, making it one of the
largest start-up investors in Europe with a focus on digital businesses.
Successful exits include, amongst others, StudiVZ.net, MyHammer.com, Bol.com
and most recently brands4friends (acquired by eBay) with a large number of
promising, current investments remaining including category leaders such as
Groupon, Zalando, Adscale and eDarling.
As the consumer internet sector develops more rapidly and
presents an increasing number of highly compelling opportunities, the new
fund structure backed by Holtzbrinck and HarbourVest enables Holtzbrinck
Ventures to offer entrepreneurs sufficient capital to build their companies.
A dedicated pool of capital will be available for seed investments fueled by
a "fast forward" program, enabling a fast and pragmatic way of investing.
Martin Weber, Partner of Holtzbrinck Ventures, commented: "The
level of support shown by our existing investor Holtzbrinck has been very
encouraging, and we are also delighted to welcome HarbourVest as a new
investor both of whom we look forward to working with in the coming years."
As part of the fundraising, Holtzbrinck contributed a large
part of its existing new media portfolio to HV Ventures Fund IV and the
Holtzbrinck Ventures team will continue managing the portfolio under the
current brand in a newly formed entity.
Peter Wilson, Managing Director of HarbourVest Partners (U.K.)
Limited, commented: "Working with Holtzbrinck Ventures is a great opportunity
to partner with a team with proven success in German and digital media, as
well as leverage our team's expertise in helping strong teams become
Michael Brockhaus, Managing Director of Strategy and M&A of
Holtzbrinck, commentated on the move: "Obtaining a professional international
powerhouse like Harbourvest as a partner for Holtzbrinck Ventures does not
only provide a solid basis for future investment activities in the digital
media sector but also bears witness to over 10 years successful development
as a corporate VC. We are happy to continue our support of the team for the
next decade of successful VC activities."
Campbell Lutyens acted as financial advisor to Holtzbrinck on
this transaction. Immanuel Rubin, Senior Vice President of Campbell Lutyens,
commented: "Holtzbrinck Venture's ability to attract new capital in a
challenging venture fundraising environment is testament to its superior
long-term track-record and hands-on active investment strategy."
Verlagsgruppe Georg von Holtzbrinck is a family-owned company
headquartered in Germany. It is active in more than 80 countries and
publishes works in both print and electronic media, providing information,
disseminating knowledge, and serving the needs of educational, professional,
and general readership markets. The group's activities are divided among four
broad business areas: Trade Publishing, Education and Science, Newspapers and
Magazines, Electronic Media and Services.
Holtzbrinck Ventures has invested in internet related
companies for more than a decade, predominantly investing at the start-up
phase. During that period, Holtzbrinck Ventures has provided capital to more
than 80 companies and is one of the few venture capital investors that have
founded international market leaders themselves. Today, Holtzbrinck Ventures
is the most successful German early stage investor within the internet
segment. Among its investments are some of the most successful internet
companies such as Groupon, Zalando, Parship, brands4friends, Experteer,
StudiVZ, MyHammer, AdScale, Wooga, eDarling and GameDuell.
HarbourVest Partners is an independent global private equity
firm that invests in venture capital, buyout, mezzanine debt, and distressed
debt through primary partnerships, secondary purchases, and direct
investments. Since the firm's first secondary investment in 1986, HarbourVest
Partners has helped pioneer the global secondary market as a leading buyer.
Over that time period, the team has completed more than $6.2 billion in
secondary purchases. In April 2009, HarbourVest Partners completed a highly
successful fundraising for Dover Street VII L.P., a dedicated secondary
programme with $2.9 billion of committed capital.
Campbell Lutyens is an independent private equity advisory
firm founded in 1988 focused on private equity and infrastructure Fund
placements and provides specialist advice on the sale or restructuring of
portfolios of private equity Fund or direct investments. The firm has offices
in London, New York and Hong Kong and comprises a team of over 50
international executives, advisors and staff with global and broad-ranging
expertise in the private equity and infrastructure sectors.
Martin Weber - Partner Tel: +49(0)89-206077-0 Holtzbrinck Ventures Bayerstrasse 21 80335 Munich Germany
Martin Weber - Partner Tel: +49(0)89-206077-0 , Holtzbrinck Ventures, Bayerstrasse 21, 80335 Munich, Germany
Tags: Germany, Holtzbrinck Ventures Gmbh, January 11, Munich