Carey Olsen's investment funds team in Guernsey and fund administration specialist Private Equity Administrators (PEA) have assisted Creandum on the establishment of Creandum V, a €265m venture fund focusing on early-stage opportunities across Europe.
Following strong demand from existing and new investors, Creandum V was heavily oversubscribed and had recommitments from all institutional investors in Creandum IV, while also attracting several new investors, primarily from the US.
The fund will follow the same strategy as previous Creandum funds and provide early stage investment for European technology companies.
The Carey Olsen team advising on all Guernsey aspects of Creandum V's structuring, establishment and closing was led by Partner David Crosland with assistance from Senior Associate Chris Hutley-Hurst.
Since 2003, Creandum funds have invested in more than 70 companies, including Spotify, Vivino and iZettle. Creandum II, which saw Creandum become the first venture capital investor in Spotify and iZettle, has built a reputation as a leading European institutional venture capital fund.