Sunstone Capital is announcing a new €85 million fund today, with a continued promise to invest in start-up companies within software, web services, e-commerce, gaming, and mobile during the next five years. The new fund expects to more than double their number of portfolio companies, with investments in up to 25 additional companies. Sunstone is based in Copenhagen, Denmark, with an office in Menlo Park, California.
The new Sunstone Technology Ventures Fund III focuses on early-stage technology companies in Denmark, the rest of the Nordic area, Central- and Eastern Europe. Currently Sunstone Technology Ventures has invested in 20 companies from two existing funds, and their total portfolio consists of more than 40 companies with approximately €500 million in funds under management.
“There is no better time to build the future winners than in a time of crisis. The entrepreneurs that defy the current economic climate will be the main source of future economic growth. Annual fundraising for venture funds in Europe is now 75 pct. lower than in the pre-crisis period. With the new fund, Sunstone Technology Ventures is well positioned to help the most promising start-ups achieve their potential,” says Jimmy Fussing Nielsen, Managing Partner at Sunstone Technology Ventures in their press release.