Germany-based growth equity firm Acton Capital Partners closed its latest fund at $200m today after securing publishing group Hubert Burda Media as a limited partner.
Hubert Burda was joined as an anchor investor in Heureka II Growth Fund by financial services group KfW, which invested through its ERP Venture Capital Fund Investments vehicle, financial services firm UniCredit and European Union agency European Investment Fund.
Acton was founded in 1999 as a corporate venturing arm of Hubert Burda before being spun out in 2008, though Hubert Burda has remained one of its LPs.
The fund will follow on from the $185m Herueka I, providing funding for companies operating in the consumer internet sector. Targeted subsectors include online marketplaces, e-commerce, e-services, digital media and software-as-a-service.
Heureka II will also continue its predecessor’s geographical focus, investing mainly Europe with some cash to go to North America. Around 60% of Heureka I’s investments were based in Germany, according to Tech.eu.
Jan-Gisbert Schultze, managing partner at Acton, said: “We are very happy that both our recurring and new investors share our confidence and believe in the sustainable potential of digitisation.
“Our investments in rapidly growing companies with transaction-based business models rest on experienced judgement and reason.”
Acton has so far made three investments out if Heureka II, which reached a $110m first close in January 2014.
The fund invested in holiday rental marketplace HomeToGo’s €6m ($6.6m) series A round and e-commerce platform Tictail’s $22m series B round in July this year, and the $20m series B round closed by business loans provider Iwoca the following month.