Capricorn Venture Partners, the Leuven-based independent manager of venture capital and equity funds, announces the first closing of its latest initiative, the Capricorn Digital Growth Fund securing more than € 48 million of commitments.
Key investors in this first closing are Quest for Growth, PMV (ParticipatieMaatschappij Vlaanderen), FPIM (Federale Participatie en Investeringsmaatschappij), AG Insurance and KU Leuven next to commitments of the team managing the fund.
Capricorn Digital Growth Fund is the successor to the Capricorn ICT Arkiv Fund and is dedicated to investing in data driven companies. The fund will focus on the growing number of opportunities emerging from the increasing conversion of data to actionable insights as well as the soaring use of artificial intelligence and data science technologies. Within this scope, the investment team will mainly focus on applications in two verticals being Digital Health and Industry 4.0 while keeping room for investments in adjacent areas. From a geographical perspective, the team will concentrate on investment opportunities in Europe. The fund intends to invest along the full financing continuum from start-up to scale-up stage.
Katrin Geyskens, Partner at Capricorn Venture Partners, said “Through the investments of the Capricorn ICT Arkiv Fund, the predecessor of the Capricorn Digital Growth Fund, we developed confidence in our main investment thesis of supporting companies who are active in the value chain of converting data into information, into insights and finally into actionable insights, often using artificial intelligence and data science. We will build on our existing experience around digital healthcare and connected medtech as well as around Industry 4.0 and IoT. I am thrilled this confidence was shared by our existing investors who joined the first closing of our new fund.”
“Our investment in the Capricorn Digital Growth Fund perfectly fits the strategy of Ageas and AG Insurance to invest in the real economy and to follow up very closely the latest developments in data science and technology” according to Filip Coremans, Chief Development Officer Ageas and Wim Vermeir, Chief Investment Officer AG Insurance.
“FPIM is delighted to be able to deploy € 10 million in this new initiative focusing on important new sectors for today’s and tomorrow’s economy. It is also a clear signal of the confidence we have in the Capricorn-team with whom we have been investing successfully since many years now”, stated Koen Van Loo, Managing Director of FPIM.
“Based on the strong performance of the predecessor fund, PMV is confident that the new Capricorn fund will become a successful investor in Artificial Intelligence, the engine of the fourth industrial revolution,” said Michel Casselman, General Manager PMV.µ