Investment management firm DTCP has secured additional capital commitments from two corporate sponsors for its second venture and growth fund, which closed at USD350m.
– SK Telecom, a large mobile operator in Korea and frontrunner in the fields of mobile network, AI, IoT, media and platform services, and
– ZEISS, a technology enterprise operating in the fields of optics and optoelectronics, headquartered in Germany.
They joined Deutsche Telekom, HarbourVest Partners, Neuberger Berman private equity fund sand others as Limited Partners (LPs) in the fund which boasts total commitments.
The fund looks to deploy tickets between USD$5m and USD$50m into Enterprise SaaS companies that:
(i) operate in the sectors Cloud and Network Infrastructure, 5G/IoT, Digital Enterprise, Cybersecurity, Artificial Intelligence, and Marketing Technology; (ii) typically feature annualized recurring revenues of USD$5m or more and
(iii) base their business model on strong underlying technology.
DTCP believes in the disruptive power of technology and invests in the technology leaders of the connected world. DTCP operates as a bridge between Europe, Silicon Valley, and Israel, and is planning to open an office in Seoul (South Korea) during the course of 2019.
Led by Vicente Vento, cofounder and CEO, and Jack Young, Head of Venture/Growth and Managing Partner, DTCP has already deployed capital in five companies from its second-generation fund. It led the Series F financing in cloud platform company Fastly, which recently went public on the NYSE (FSLY), and joined financing rounds in employee communication and engagement platform Dynamic Signal, light-touch sales platform Pipedrive, cloud and data center security innovator Guardicore, as well as a US Web and mobile analytics company.
Based in Hamburg, Germany, Menlo Park, CA and Menlo Park, CA, and Herzliya, Israel DTCP is an investment management group with c. $1.7 billion assets under management and advisory from Deutsche Telekom and other institutional investors, and a portfolio of over 60 companies.