Final yr I lined the launch of Berlin-HQ’d Revent — a brand new European early-stage with an “impression” focus — it was aimed to launch a €50 million ($60 million) fund to give attention to local weather tech, well being, and well-being, and financial empowerment, backing startups with each “goal and revenue”.
It’s now asserting the ultimate shut of €60m ($68m) arduous cap in a fundraise it describes as “highly-oversubscribed”.
In a press release Otto Birnbaum, Founding Companion at Revent stated: “In the present day’s immense local weather and societal challenges won’t be solved with out the efforts of the world’s greatest founders harnessing expertise and constructing scalable, industrial companies that drive sustainable and vital impression. We’re satisfied that goal and revenue gas each other and that high monetary returns might be generated exactly as a result of firms are focusing on vital, optimistic impression on society and the planet.”
“We’re satisfied that Europe is uniquely positioned to cleared the path for extra technology-driven optimistic impression for the planet and society”, added Dr. Lauren Lentz, Founding Companion at Revent.
LPs within the fund embrace globally-active retail and companies firm Otto Group.
Benjamin Otto is a member of the influential German Otto household, founders of the Otto Group.
Different LPs embrace multinational skincare firm Beiersdorf (NIVEA, Eucerin); institutional buyers such because the European Funding Fund (EIF), which dedicated 20 million Euro to the fund; the NRW.BANK; and the LfA Förderbank Bayern. Moreover, members of German-entrepreneurial households resembling Heraeus, Hymer, and Wepa households are backing Revent. Lastly, various high-profile tech founders and buyers resembling Verena Pausder (Fox & Sheep), Sascha Konietzke (Contentful), Florian Heinemann (Venture A), and Luis Hanemann (Headline) have invested within the fund.
Revent has invested in 9 firms thus far, together with Sylvera (UK) (scores carbon offset schemes); Web Objective (UK) (impression evaluation for funding portfolios); and Avelios (D) (a modular hospital software program platform).
In addition to Birnbaum and Lentz; the accomplice group consists of Emily Brooke MBE, founding father of Beryl and Henrik Grosse Hokamp, who labored beforehand for Partech’s late-stage fund.