Dawn Capital has raised $700 million to back software companies.
The London firm’s primary $620m fund, Dawn V, will support European B2B software firms at Series A or Series B stages of growth with tickets of $10-40m.
An $80m follow-on fund, Dawn Opportunities III, will support portfolio companies at Series C and beyond.
Half of the commitments are from new investors around the US, Europe, the Middle East and Asia.
Launched in 2007, Dawn has now raised over $2 billion from global investors and backed more than 80 companies founded across 16 European countries.
Data firm Quantexa is among its portfolio companies. “Dawn is an invaluable partner to have on your side,” said founder and CEO Vishal Marria.
“The firm has brought huge value and insights to our business, and the team is deeply invested in our success at all levels.”
Dawn Capital co-founder and general partner Haakon Overli said: “Over the last 18 months, we have all witnessed the challenging macro environment. We founded Dawn to support founders building global B2B software leaders from Europe, and this ethos has not changed.
“We firmly believe it is a great point in the cycle to be investing and see the opportunity in Europe only increasing.
“Our two decades of experience have shown us that companies forged in challenging times are forced to deliver even more value, with compelling propositions and deep-rooted resilience.”