Yared will help lead Balderton Capital’s new $680M growth fund

From our Women's PE Briefs - week commencing June 14, 2021

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Hartley-led British Patient Capital invests in Balderton Capital’s new growth fund

Rana Yared will help lead Balderton Capital’s new growth fund – a fund whose cornerstone investor is British Patient Capital, which is led by Judith Hartley. Balderton closed the new fund at $680 million. It will look to invest between $25 million and $50 million in 15 European companies.

Rana will lead the fund with Bernard Liautaud and David Thévenon. Balderton formed the fund because it sees “an unprecedented opportunity for growth stage investing in the UK and Europe,” Rana said in a statement. She added that the firm’s approach for the fund “will be ‘one of few’. This means personalized attention from the entire partnership, plus access to Balderton’s leading platform team. We’re looking for 15 or so really exceptional companies that have the potential to be sector leaders and disrupt global industries.”

Rana, a general partner, joined Balderton in 2020 after previously being at Goldman Sachs’ Principal Strategic Investments Group. A company that she helped lead Balderton into last year, Flywire, recently went public. Meanwhile, a company that she led Goldman Sachs into, BitGo, is set to be sold for $1.2 billion to Galaxy Digital.

Over the past 21 years, Balderton has raised $4 billion to invest in European startups and has backed more than 230 companies.

Fuel Ventures raises a $45M fund that Azzarelli will be involved with deploying

Fuel Ventures, whose team includes partner Jing Jing Xu, closes a new fund – a fund that Alice Azzarelli will play a key role in deploying. The London-based early-stage venture firm raised $45 million. Fuel will look to invest the fund in 60 UK startups over the next 12 months.

Jing leads Fuel’s international investments, business development, fundraising and investor relations. She joined the firm in 2016 after being head of China for InvestUK. Alice will help lead Fuel’s new pre-seed team along with fellow investment analysts Tom Hibbard and Alex Breeden.

Since launching in 2015, Fuel has raised 80 million pounds to invest in seed and Series A founders and their startups. The firm’s investments include OnBuy, Capdesk, Outfund, Heroes and The Moot Group.

Seven Seven Six closes its debut fund at $150M

Seven Seven Six, whose team includes founding partner Katelin Holloway and founding chief of staff Elisabeth Garvin, closes its debut fund – with half of the limited partners being women. The venture firm raised $150 million.

Katelin and Lissie founded the firm with Alexis Ohanian, a co-founder of Reddit and Initialized Capital, and the husband of tennis star Serena Williams. Seven Seven Six already has made 17 investments with the new fund. Companies it has backed include SIMULATE, which is developing meat-like, plant-based food; Itsme, a social platform; and Dispo, a social network co-founded by Natalie Mariduena.

Azrielant’s Meron Capital launches a new fund

Meron Capital, which was co-founded by Liron Azrielant, launches a new fund. The Israeli venture firm said the $50 million fund will invest in early-stage deep tech startups. It will target 18 to 20 pre-seed and seed investments in startups building software-based solutions for enterprise, cybersecurity, digital health, fintech and DevOps.

The firm has already made backed four companies with the new fund: LendAI, a mortgage lending startup; Sorbet, a clearinghouse for paid time off; Firmbase, a fintech startup; and Laminar, a data protection platform for cloud-native applications.

The firm’s 2017 debut fund has backed 12 companies, four of which have been acquired. Liron is managing partner of Meron with firm co-founder Daniel Roditi.

G2 Venture Partners raises a new fund that Whitehead and Varman will be involved in deploying

G2 Venture Partners raises a new fund – a fund that investors Francesca Whitehead and Monica Varman will be involved in deploying. The Portola Valley, Calif. firm closed its second fund with $500 million in commitments. G2 focuses on building and supporting technology companies digitizing traditional industries.

Francesca joined G2 earlier this year from KKR’s Global Impact Fund where she was an associate. Monica has been with G2 for the past two years. She was previously an engagement manager at McKinsey & Company. G2’s team also includes chief operating officer Valerie Shen.

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