Munich-based venture capital firm 42CAP has closed its second fund with €50 million. The seed investor is focusing on the B2B software sector in Europe with this second fund.
Behind 42CAP is a seven-person team of former founders who have themselves built companies valued at around three billion euros: In addition to the general partners Alex Meyer and Thomas Wilke (eCircle), these include Joseph Brunner (Relayr) and Moritz Zimmermann (Hybris/SAP).
50 million euros for seed investments — 42CAP closes early-stage fund
42CAP's investors are already closing their second fund, this time with a volume of €50 million. Investors include the European Investment Fund (EIF), KfW Capital, and London-based Isomer Capital, as well as closely associated private investors and business angels.
Alex Meyer, General Partner of 42CAP:
"We are very pleased with the closing. It gives us the opportunity to lead seed investments in enterprise technology in Europe and provide the crucial reference for follow-on investors."
42CAP plans around 20 investments
The strong results of the first fund underpin the new investment plans: The Munich-based company's second early-stage fund is expected to comprise around 20 investments. Eight investments have already been made, including in IoT and AI for corporate purchasing. The venture team's new investments include the Swedish startup Crosser, which intelligently harnesses industrial machine data in edge computing, i.e., decentralized data processing. Würzburg-based Scoutbee, a Bavarian startup that uses artificial intelligence for industry, has also made it into the portfolio.
Thomas Wilke, General Partner of 42CAP and CTO:
"We are on the cusp of an enormous leap in the development of corporate and industrial processes, and we want to take advantage of this. In Europe, especially in the field of AI, we see cutting-edge technology and visionary thinking that can compete internationally."
