Early-stage venture capital firm Hoxton Ventures has just launched a fund focused on European startups.
Hoxton Ventures Fund I, L.P., aims to bring the U.S. microcap venture investing model – a small fund run by former tech executives working closely with entrepreneurs to build value – to Europe expecting that backed startups will then become part of the U.S. technology ecosystem, either by opening offices or relocating parts of their team to the U.S.
The fund, which is managed by founding partners Hussein Kanji ([email protected]) and Rob Kniaz ([email protected]), and venture partner Dylan Collins, plans to make 4-6 investments (between $500k-2m each) a year in European startups that can scale into large leaders in newly emerging industry categories.
Kanji and Kniaz have made five investments to date, two from the fund. One of their first investments, Llustre, was acquired by Fab.com last summer.
According to WSJ, the fund raised €40m.