Economics

Luxembourg firm launches fund to support European startups

Mangrove Capital Partners has previously backed companies such as the well-known telecommunications player Skype, web development platform Wix.com, e-commerce company Brands4Friends and Indian messaging platform Nimbuzz.

19.07.2017

Luxembourg-based venture capital firm Mangrove Capital Partners has raised a $170 million fund to invest in European and Israeli startups. To be launched at the end of the third quarter or beginning of Q4, the fund is expected to grow and reach an amount within the range of $222 million.

Launching its fifth fund since its founding in 2000, the company raised the amount in two months, with 90 per cent of the money coming from institutional investors and the remaining coming from family-offices.