The European technology growth equity investor Kennet Partners has announced the final close of Kennet VI, raising €266m. It is a fund exclusively designed for investing in software-as-a-service (SaaS) businesses throughout Europe.
Commitment to foster Innovation
Kennet VI has also received support from a cornerstone investor in Edmond de Rothschild. The long-term cooperation between Kennet and Edmond de Rothschild was established in 2017 and is based on the desire to promote technological progress. Other investors are British Patient Capital, Federated Hermes Private Equity, and Bpifrance.
Kennet’s Investment Focus
Kennet VI targets only proven growth-oriented B2B SaaS technology companies. These firms are usually founder-managed and either low-leverage or created without venture capital or outside money. Kennet’s investment is the initial outside capital that these companies receive, to grow, enter new markets, and establish strong executive teams.
Deployments and Technology Transformation
Kennet VI has already started making capital available. Screendragon is a business management software based in Ireland and the United Kingdom that specializes in workflow management. Fluid Topics (France) is an artificial intelligence content delivery platform. According to Kennet, there is no doubt that technology is a key driver of change in economies and societies. Together with the development of innovative companies, Kennet also promotes sustainable growth and the creation of value.
Kennet’s Long-Term Vision
Kennet’s conservatively positioned investment strategy has been welcomed by investors, especially in the current world where ‘growth anyway’ costs, do not make much sense. The fact that the result of this fundraising was achieved even in difficult economic conditions proves the efficacy and necessity of the approach developed by Kennet.
Kennet VI compares similar funds
The latest fund is Kennet VI which targets to invest in proven, high-growth B2B SaaS companies in Europe. Kennet VI focuses solely on B2B SaaS startups that are owned by the founders and are ‘bootstrapped’, implying that they have not raised much external capital. The fund would be the company’s initial external source of financing to support its expansion into international markets and sales and marketing activities.
Kennet Partners is a technology growth investor with over 20 years of experience in Europe. Collectively, their accrued assets were able to reach an approximate value of $1 billion. Some of the past exits from Kennet funds are successful companies like Receipt Bank, Nuxeo, and Rimilia. Kennet VI was born in parallel with Edmond de Rothschild to attract new members from Europe and Asia. This particular outcome proves that they are a great team and can attract investors from various segments of the population. The continuing digital transformation process, intensified by COVID-19, offers prospective capacities for software organizations. Kennet VI is well suited to leverage this structural change and invest at the point of fundamental change.
Conclusion
Kennet VI is a large fund that will help European SaaS startups increase their pace of development and advance the technology of the Old World. Kennet VI’s specialization in early-stage B2B SaaS companies, along with the team and partners, makes Kennet VI a uniquely attractive fund to gain exposure to Europe’s fast-growing tech market.
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