DTCP Completes First Close of $300M Growth Equity III Fund to Invest in Web3

The GE III Fund will invest in cybersecurity, web3, AI, fintech, vertical SaaS solutions and more.
Images souce: DTCP

Quick take:

  • The Fund was launched in March 2022.
  • It has raised capital from new and existing investors including Deutsche Telekom and SoftBank Group International.
  • It made its first investment in Europe-based Cognigy.ai at its growth round

Digital Transformation Capital Partners (DTCP), an independent investment management firm focused on digital transformation, today announced the first closing of its Growth Equity III Fund at $300 million. Launched in March 2022, the Fund is backed by new and existing investors including Deutsche Telekom and SoftBank Group International, alongside other institutional, pension fund, corporate, and family office investors.

Following the proven proprietary data-driven investment strategy of DTCP, GE III invests in cloud-based enterprise software and business Software-as-a-Service (SaaS) companies in the fields of cybersecurity, web3, AI, fintech, vertical SaaS solutions as well as applications and cloud infrastructure software.

It is targeting about 25 equity investments in the range of $20 to $25 million for businesses in Series B to D or late-stage funding rounds, focusing on category leaders in Europe, Israel, and the US with a defensible market position and technological advantage.

“Our GE III fund is the continuation of a proven strategy, and we would like to thank our existing and new investors for their support and trust. With one ofthe largest specialist teams focusing on cloud-based enterprise software in Europe, we’re excited about the continued opportunity to back outstanding entrepreneurs and category leaders in the fast-growing cloud-based enterprise software ecosystem and to create attractive co-investment opportunities for ourinvestors,” said Thomas Preuss, Managing Partner at DTCP Growth.

The predecessor growth equity funds GE I (launched in 2015) and GE II (launched in 2018) have invested about $410 million into 32 enterprise software companies across Europe, Israel, the USA and Asia – 11 of which have been acquired or gone public, including Auth0, Fastly, Signavio, Pipedrive and Guardicore.

The GE III Fund has made its first investment of $15 million in Europe-based Cognigy.ai at its growth round. DTCP plans to continue to raise significant capital for the Fund and aims to close fundraising in 2023.

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