Munich, Germany-based Holtzbrinck Ventures has closed its fourth fund, at €177m.
HV Holtzbrinck Ventures Fund IV, which will now operate as a fully independent venture fund, will continue to execute the company’s strategy of investing in early stage companies within the new media sector mainly across Germany, Austria and Switzerland.
A dedicated portion of capital will be available for seed investments, via a “fast forward” program.
The capital was raised by both Verlagsgruppe Georg von Holtzbrinck and funds managed by HarbourVest Partners.
As part of the fundraising, Holtzbrinck contributed a large part of its existing new media portfolio to Fund IV and the Holtzbrinck Ventures team will continue managing the portfolio under the current brand in the newly formed entity.