Oxx, a specialist investor in European B2B SaaS scaleups, has reached the final close of its second fund at £150 million. 

The firm invests in companies that have reached product-market fit and aims to help them unlock explosive growth. 

Its portfolio includes such successes as Funnel, Goodlord and Gravitee. The fund is supported by LPs such as British Patient Capital, Saminvest, KfW Capital, Argentum, Pool Re and Coeli.

Oxx has attracted several new LPs to its second fund generation with its promise of a growth equity risk profile at the same time as a significant venture-driven upside.

“We invest with evidence-based, absolute conviction in companies with strong fundamentals, where we can generate sustainable, capital efficient and consistent growth,” said Richard Anton, general partner. 

“In this challenging market, we are thrilled to have raised a fund that comfortably enables us to action this strategy in supporting promising European scaleups during the next stage of their growth journeys. 

“The trust shown by both returning and new LPs is a testament to our highly selective and hype-resistant approach resonating with the wider community, and proves that our commitment to maintain a strong LP/GP relationship is valued by our stakeholders.”

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Co-founders Anton and Mikael Johnsson have invested through every cycle of SaaS development. At Oxx they have brought together a highly skilled, hand-picked team with experience from various investing and operational backgrounds.

“The SaaS industry has undergone a seismic shift over the past decades,” added general partner Johnsson. “Technological development has pushed innovation through various paradigms – from on-premise, to cloud, to a hybrid model. 

“We are now at an inflection point, entering the early innings of the AI paradigm of SaaS. AI is not merely hype, it is the technological driver underpinning a structural shift and spurring another tidal wave of innovation, driving migration from incumbent legacy systems and applications. 

“Therefore the software industry and SaaS as a business model will continue to have a foundational impact in the future. With this fund, we are solidifying Oxx as a partner and producer of standout SaaS companies for the long term.”

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