Kibo Ventures is behind unicorns Flywire ($FLYW), JobandTalent, Devo, Tier Mobility and Sorare and is an early investor in scale-ups like Clarity, Paack, Carto, Exoticca, Defined.ai or Odilo
We have raised $175m in two new funds, reaching $340m in AuM
Both funds were oversubscribed, with final closing at their hard caps
These are very exciting times to be a venture investor in Europe. We have been strong believers in Europe since we launched Kibo Ventures in 2012 in a very challenging macro environment.
This is a special year for Kibo Ventures — we’re celebrating 10 years of partnering with world-class founders who are making history. Looking back, would have been hard to predict that our portfolio would include 1st Nasdaq IPO of a company with Spanish roots, 4 unicorns and many scale-ups, 10 years down the road.
Today, we’re happy to announce that we have raised a combined $175m between our flagship Fund III and our Opp Fund I, to bring patient capital to European founders with the ambition to build global tech businesses that make meaningful contributions to our society. In essence, capital to back early stage companies and capital to back high inflection investments.
With this announcement Kibo Ventures consolidates as one of the most relevant European early-stage players.
And we couldn’t have dreamed for better Limited Partners in Fund III:
Of course, raising a Fund III or an Opp Fund, would not be possible without the outstanding performance of many of our portfolio companies led by phenomenal founders.
This announcement builds upon Kibo Ventures’ strong momentum and track record:
Simultaneously, the Opp Fund, which was anchored by HarbourVest,has been raised and almost fully deployed in record time. Capital is 50/50 split between institutional investors and private and Family Offices, most of which are also LPs in the main funds. This fund, with very strict investment criteria, provides exposure to growth rounds of selected portfolio scale ups and has so far invested in 7 companies.
At Kibo Ventures, we know that entrepreneurship isn’t crazy, it’s just very brave. We know because we are founders ourselves. We’ve crossed the chasm and now we want to give back. With the resources we have — our capital, our network and our experience — we want to help the best tech entrepreneurs scale, succeed and make a big impact.
And we love doing it. We thrive on the passion our founders have for their companies. We feel their companies are also our companies. We do our homework and research the hell out of them — their market fit, their readiness to scale, their social and environmental impact — before we add them to our portfolios. Once in, things tend to move fast. And, if they don’t, we stick with our founders for the long haul. Really.
Our investment thesis works. Our track record proves it. Our founders will be the first to confirm it. After IPO or unicorning, many of them have gone on to become investors in our other funds, giving back to the ecosystem.
We know it is ultimately up to the founders to find the right investor. And that we are not the only one. But having us at the cap table, to lead or co-lead, is a stamp of approval for the company and a heavy duty for us to deliver.
In short, we’re the solid partner you can trust. Our core values of Passion, Trust, Help, and Ambition are not fluff. They are facts that have guided us from being a small shop to creating a VC firm we’re proud to run and work for. A family. We look forward to meeting the next decade of ‘crazy’ entrepreneurs who want to be a part of our family and with whom will be honored to share the ups and downs of the journey.
We have already made several investments from Fund III including Gamestry (Spain), Proportunity (UK), Green Eagle (Spain), Belvo (Latam), Sorare (France), Trucksters (Spain), Evernest (Germany) and two undisclosed companies in Spain and South East Asia. These companies are a good reflection of some of the sectors that we particularly like: Creator Economy, Fintech, Energy Tech, HR Tech, Web3/NFTs, Logistics, Proptech…alongside others like AI, Mobility, Edtech, Digital Health, Wellbeing, B2B SaaS and Marketplaces, Future of Work…
Founding Partner Kibo Ventures. Passion for start-ups. Passion for Coronado, CA. Family. Cocktails lover.
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