Germany-based Acton Capital Partners, an independent venture capital firm that previously ran the corporate venturing unit of German publishing company Hubert Burda Media,has launched its new Heureka II growth equity fund, raising over $110m at first closing.
Heureka Growth Fund II will target internet-based companies, with a focus on Europe, as did Heureka I.
Anchor investors at first closing included the European Investment Fund (EIF) and the media group Hubert Burda Media. Over the coming months, Acton is targeting a total fund size of at least $200m.
Jan-Gisbert Schultze, managing partner and fundraiser at Acto, said: “The fact that most investors in the previous fund decided to also commit to the new fund is a strong vote of confidence which we very much appreciate.”