E.Ventures, the US-based venture capital firm in which retail and online services group Otto Group is a major investor, has raised $60m for its latest fund, E.Ventures US V, according to a securities filing.
The firm aims to raise a total of $175m for the fund. The filing indicates the $60m was provided by a single investor, possibly Otto, though E.Ventures has not disclosed any information.
Founded in 1998, E.Ventures invests between $500,000 and $30m in each portfolio company. It operates out of offices in San Francisco, Berlin, Beijing, Tokyo, Moscow and Sao Paulo, and manages six funds.
Companies in which the firm has invested include daily deals platform Groupon, local business reviews site Angie’s List, consumer price comparison site Shopping.com and wireless music technology developer Sonos.