„Peers amongst Entrepreneurs“ Former eCircle executives build entrepreneurial venture capital firm 42CAP and raise 50 million Euros for seed stage technology investments
Munich, 2nd July 2018 – 42CAP, the Munich based entrepreneurial venture capital investor, announces the first closing of its second seed stage technology fund 42CAP II at 30 million Euros. The second and final closing of the fund is scheduled for later this year at a target size of 50 million Euros.
The fund is investing in technology and data-driven businesses in Europe. Because of their entrepreneurial expertise and deep market knowledge 42CAP aims to provide the „very first professional money to founders and entrepreneurs“, says Thomas Wilke, General Partner at 42CAP. „We’re peers amongst entrepreneurs because we ourselves have been entrepreneurs throughout our career.“
The investment strategy is bolstered by the initial investment of the fund: with Cioplenu, 42CAP is participating in a seed round of a startup which has been bootstrapped by its founders and is now at the turning point of converting pilot customers into recurring revenue. Cioplenu offers a Digital Assistance and Information Platform with integrated documentation. The product enables streamlined production of documentation materials, e.g. for manufacturing or maintenance tasks and delivers the documentation in real-time where it’s needed – to the worker on the shop floor.
The first closing of 42CAPs second fund comes on the heels the success of 42CAPs previous fund. „We are so proud of our founders“, says Alex Meyer, General Partner at 42CAP. „They’ve been able to raise an astonishing 80 million Euros in significant Series A and B rounds over the last six months across the portfolio companies in 42CAP I. We feel honoured that we are able to support brilliant startups like Lesara (Berlin), Kaia Health (Munich), Ontruck (Madrid), Candis (Berlin), Shine (Paris) or Adverity (Vienna) in this decisive phase of their development“, he adds.
In addition, 42CAP is announcing five new venture partners who are joining the team. With Konstantin Urban (Co-Founder Holtzbrinck Ventures and windeln.de; IPO), Moritz Zimmermann (Co-Founder Hybris; acquired by SAP), Josef Brunner (Co-Founder relayr; KPCB investment and JouleX; acquired by Cisco), Max Cartellieri (Co-Founder AlphaSights and ciao.com; acquired by Microsoft) and Craig Forrest (Co-Founder Epigram; acquired by Broadcom and SVP Apple) the VC firm is not only adding unique industry expertise to its team but equally undermining their commitment of being ‚peers amongst entrepreneurs‘.
42CAP is one of Europe’s few seed stage focussed technology investments funds. The company invests in seed-stage technology-driven companies across Europe with global ambition. The people behind 42CAP are Thomas Wilke and Alex Meyer, Co-founder and initial investor / CFO of eCircle, one of Europes largest success stories in SaaS who sold the profitable company in 2012 to Teradata (NYSE:TDC). Core of 42CAPS investment approach is their ‚Entrepreneurs First‘ conviction – working as peers amongst entrepreneurs sharing their fundamental values: conviction for technology- and data-driven sustainable business models and a true passion for entrepreneurship.
Contact: Thomas Wilke | firstname.lastname@example.org