London-based venture capital (VC) Highland Europe has launched a €1bn (£879m) fund to invest in growth-stage software and consumer Internet businesses across Europe .
This is Highland Europe’s fifth fund, bringing total capital raised to €2.75 billion (£2.42 billion).
Fergal Mullen, Partner at Highland Europe, said: It is their ambition, talent and drive that inspires us as we build category-defining businesses together. ”
Highland Europe, which has an additional office in Geneva, has previously backed eGym, Malwarebytes, WeTransfer and headed nutrition company Huel’s. £20m funding round in December.
“The current market conditions are not easy, but our founder-led company continues to scale impressively and efficiently with some of the world’s leaders,” Mullen added.
“We are delighted that our investors share our beliefs and thank them for their continued trust.”
The big fundraising comes amid a broader slowdown in tech startup funding caused by rising interest rates and declining values of publicly traded tech companies. The UK firm has secured £22.7bn in his VC funding for 2022, according to a recent report. 30% decrease in the previous year. British technology improved slightly, but 22% decrease According to another report.
