DN Capital, one of the most active VCs in Europe, has launched it’s latest $350 million (£220 million, €300 million) fund while the firm has valued its four portfolio firms by more than a billion dollars. DN’s “Fund V” will invest across Europe, the United States, and the United States, but DR has gained a reputation for digging up some of continental Europe’s hottest startups from northern, western, central, and Eastern Europe, including European LPs. Led by industry veterans Need Marovak (Europe-based) and Steve Schlecker (Stateside-based), DN Auto 1 led the series in a series that entered a billion $10 billion valuation on the German stock exchange earlier this year and more than 150x the price per share.
As Marovac explained: “We work with entrepreneurs to understand the market, their team, their products and to get to the heart of what they’re trying to achieve, we spend a lot of time talking about money … Our Fifth Launch Fund Gives more opportunities to inaugurate with big, bright global ambitions, Schlenker added that he believes that “the full impact of the epidemic on society, work and behavior is only being understood. There are now technological founders around the world in critical missions to accelerate this recovery and help meet needs and solve the world’s biggest problems.”
In July 2021, Germany-origin online eyewear retailer Mr.Specks, IPO over $1 billion, DN Capital also counts Unicorns in its portfolio of Rainmi, Jobbandtalent, and Ghostudent. The company, which has a 20-year history, said Fund V has “subscribed substantially “and will focus on software, fintech, marketplaces, and key features of the consumer Internet fund.
Schlencer said: “Europe has really come into its own. It is competing very successfully against America in terms of investor returns.” Were they seeing more U.S. vice-chancellors in Europe, I asked? “We have dealt with Sequoia with Batteries, Lightspeed. The competition seems to be fierce in the UK market, as Americans come to where they can speak the language first. When you come to France, Germany, etc., the competitive landscape is still more with the B or C level players of the series,” said Schlenker.