Shortcut Ventures, a venture capital firm whose debut fund was cornerstoned by Netherlands-based utility KPN, has made its first investment by joining the syndicate investing €4.5m ($6m) in social communications network Yuilop.
Alongside Shortcut as co-lead of the series A round was Russia-based corporation-backed Bright Capital. Angel investor Bruno Ducharme and venture capital firm Nauta Capital, which previously provided Yuilop with €1m of seed funding, also joined the A round.
Shortcut had originally been know as Fastlane Ventures when it was launched in February before changing its name after another group with the same name was identified in Russia.