Hummingbird Ventures, an investor in UK tech scaleup Deliveroo, has raised $95m to continue backing firms at late Seed and Series A.
According to a Medium post published by founding partner Barend Vanden Brande, the new fund will seek to invest in companies operating in the e-commerce, gaming, SaaS and crypto markets, contributing anything between $500,000 and $5m per round.
Limited partners in the fund – the third closed by the Antwerp and London-based venture capital firm – include high-net-worth individuals, family offices and entrepreneurs from some of its portfolio companies.
Vanden Brande added: “This summer, we set out to raise our third fund. In less than a month, we had €100m of commitments, double the size of our initial fund target of €50m.
“We did not rely on any special tax incentives or the EIF’s of the world. Our LP base consists of 100+ private investors including entrepreneurs who built $1bn+ tech companies, strategic family offices and entrepreneurs who we once backed at Seed stage.
“We are very grateful for our LP base’s continued support, jumping through all the hoops at such a short notice!”
So far, the founding partner added, Hummingbird III (as the fund is known) has already backed three companies: Instacarro (Brazil), Frontier Car Group (Nigeria, Pakistan, Turkey, Chile, Mexico and Indonesia) and a stealth firm in New York.
“Hummingbird III is off to a promising start and we couldn’t be more excited by the talent and ambition we are meeting across the globe,” he concluded.