Amadeus Capital Partners has raised £33.2 million for its Amadeus IV Early Stage Funds – a pot raised to invest in ‘disruptive technologies’.
The new fund is an Enterprise Capital Fund (ECF).
Amadeus has now raised two ECFs, with its first one accounting for £20 million back in 2006. The firm’s last exit to come out of the ECF was Scottish online collaboration software company OneDrum – sold to Yammer back in 2012.
Going forward, the fund will be investing in start-ups operating in the big data analytics, cloud computing, cyber security, low-power computing and ‘internet of things, medical technology and digital healthcare areas – which the firm classifies as ‘high-growth sectors’.
Alex van Someren, managing partner of Amadeus’ Early Stage funds, reveals that demand for investment for disruptive technology start-ups is increasing at the same time as a scarcity of early-stage capital is emerging.
He adds, ‘This presents a real opportunity for early-stage funds such as ours. The Amadeus team has been building and backing technology companies for a long time; we see a wealth of potential today in certain sectors.
‘Naturally, I am grateful to all our investors who have made it possible to invest in and support that potential.’
More on Amadeus investments:
- TrialReach closes £2 million VC deal
- Amadeus and Archimedia support Qinec
- Unruly completes $25 million round
The latest Amadeus ECF, which is registered as an EU Venture Capital Fund (EuVECA), has received contributions from corporates, trusts, foundations and high-net worths.
Explaining its ongoing commitment to investing in UK technology start-ups, Amadeus cites government initiatives such as the business bank, Technology Strategy Board, Tech City and visas for foreign entrepreneurs as factors contributing to ‘one of the most dynamic business environments in Europe’.
Ken Cooper, managing director of venture capital solutions at the British business bank, says, ‘This new fund from an established team at Amadeus is an ideal fit for us and we are delighted to be making this investment.
‘The Amadeus team brings a wealth of experience in building successful businesses and in making and managing early-stage technology investments.’
Away from its ECF funds, the venture capital firm has Amadeus III, a 2007 broad-based fund which is now fully invested with funds available for follow-ons only. Alongside that, it has its Amadeus IV Digital Prosperity fund which held a first close of $75 million in July 2013 and is now actively investing.