Venture capital fund e.ventures has raised $150 million (£102 million) to invest in early-stage technology startups.
The company, founded in 1998, has already invested over $1 billion (£680 million) in 170 companies around the world but this new fund is specifically for tech startups across Europe.
Investments made from the new fund will typically be made at the Series A stage and range from £1 million to £5 million.
Luis Hanemann, partner at e.ventures, told Business Insider that e.ventures aims to be seen as a “more approachable” venture capital company.
“We’re not all [former] investment bankers,” said Hanemann, adding that e.ventures often goes to companies instead of waiting for them to come knocking on e.ventures’ door.
Some of the money that e.ventures invests come from the European Union. Hanemann explained that it might become harder to invest in UK tech startups if the nation was to exit the EU.
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