June 2 (SeeNews) - The New York- and Warsaw-based ff Venture Capital (ffVC) said that it has launched a new 60 million euro ($64.6 million) fund to support startups from seven Central European countries, including Romania.
This second European fund of ffVC is aimed at startups seeking Series A and late seed investments aligned on the most pressing challenges facing enterprises and society today, including digital transformation, resource optimisation and sustainable transformation, the venture capital firm said in a press release on Thursday.
The ff Red and White fund will focus on startups from Germany, Austria, Poland, Czechia, Slovakia, Romania and Hungary. Startups which operate in areas such as enterprise software, industrial tech, and sustainability transformation can benefit from the fund.
"This fund will open up a previously unexplored market for Central European startups, and grants Japanese corporations access to cutting-edge European frontier enterprise technologies," said Maciej Skarul, partner at ffVC.
The company created the fund as a global joint venture with Japanese investment advisory firm JBIC IG Partners. The fund has already secured the majority of its targeted capital from investors, including several Japanese multinational corporations and the Japan Bank for International Cooperation (JBIC).
Established in New York in 2008, ffVC created a global portfolio of more than 90 companies that has generated over $15 billion (13.9 billion euro) of enterprise value as of now. In 2020, the company launched another fund, focused on Central and Eastern Europe, which has so far built a portfolio of 20 companies.
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