The European Internet startup scene feels stronger than ever right now, with thriving communities of promising companies across the continent, and governments waking up to the benefits of supporting them. The tech investment scene in Europe has received a boost today with news from Denmark’s Sunstone Capital that it has raised a new €85m ($112m) fund.
Sunstone’s focus is on early-stage technology companies in the Nordic region, plus Central and Eastern Europe. Its current investments include Budapest’s Prezi, Layar in the Netherlands, plus Issuu and Podio in its home city of Copenhagen.
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The new fund, which Sunstone aims to increase to a final sum of €100m ($132m) next year, will maintain its focus on software, Web services, e-commerce, gaming and mobile. The firm expects to make 25 new investments over the next five years, with the first expected to be announced before Christmas. It already has stakes in 20 startups over two existing funds.
Earlier this year, the partners behind London’s White Bear Yard launched Passion Capital, a $60m fund which has already made a number of investments.