TLDR:
- Forestay Capital raised $220 million for investing in enterprise AI and SaaS startups.
- The fund, named Forestay II, focuses on early growth stage companies in the technology sector.
European venture capital firm, Forestay Capital, has announced a $220 million fund to invest in startups in the enterprise artificial intelligence and Software-as-a-Service (SaaS) sectors. This is the second fund from the VC firm, focusing on early growth stage companies and making lead investments of $10 million to $15 million. The fund, called Forestay II, has already partnered with cybersecurity startup Veriti and engineering intelligence startup Neural Concept. Forestay Capital’s first fund, Forestay I, invested in 13 companies, three of which achieved unicorn status and two were acquired. The managing partner, Frederic Wohlwend, highlighted their success in making high-conviction investments and cultivating a concentrated portfolio of future category leaders in enterprise AI and SaaS. The European tech investment market has shown signs of growth recently, with an increase in dealmaking at early-stage companies. Other VC firms in Europe, such as Creandum and Kfund, have also announced significant fund raises to support tech projects. Overall, the tech investment landscape in Europe is becoming more active, signaling a period of growth in the sector.
