USheadquartered growth equity fund 7 Global Capital (7GC) has raised $75m from investors including media company ProSiebenSat.1, which has taken a 25% stake, Bloomberg has reported.
The fund’s other limited partners include Europe-based companies, family offices and private investors, and 7GC intends to increase its size to $150m in the next year, people familiar with the matter told Bloomberg.
7GC makes growth-stage investments in technology developers in Europe and the US, offering US-based companies operational support, network and access to the resources of its LPs in order to help them enter Europe.
The fund’s investments include participation in a $22m series D round for digital entertainment and news provider Cheddar and a $50m series B round for online pharmacist Capsule that closed last month.
ProSiebenSat.1 makes direct investments in startups through its SevenVentures corporate venturing subsidiary and had previously operated an accelerator called P7S1. It has also backed funds raised by Cherry Ventures and Project A.