KPN Ventures, the corporate venturing arm of telecommunications company KPN, has contributed to the €190m ($225m) third fund for Austria-based venture capital firm Speedinvest.
The list of limited partners for the vehicle also features PSL Innovation Fund, a Université PSL-aligned vehicle managed by VC firm Elaia Partners, along with IQ Capital and Armilar Venture Partners.
Founded in 2011, Speedinvest invests across Europe in early-stage companies in multiple sectors. The latest fund will focus on pre-seed and seed-stage deals, with KPN Ventures providing strategic expertise.
Speedinvest had secured $58m for its Speedinvest F fund in mid-2018, from LPs including financial services firm Raiffeisen, insurance provider Uniqa, VC firm New Enterprise Associates and assorted private investors.
KPN Ventures managing director Hans Söhngen said: “Over the last decade, Speedinvest has successfully developed a unique operational platform to support promising early-stage European technology companies in accelerating their growth.
“We are excited to work with Speedinvest as a way to further expand the scope and opportunity for KPN to engage in partnerships with innovative European technology companies, particularly in the Germany, Austria and Switzerland area, in order to bring value to KPN’s customers.”