TechTaffy

tech:

taffy

Index Ventures Announces €500 Million Growth Fund

By TechTaffy Desk

By Adam E. John

Index Ventures has announced a new €500 million Index Growth Fund. The venture capital firm says the Growth fund will be investing between €10M and €50M in the equity of “fast growing companies with proven business models and solid management teams going after large market opportunities in which they have already built an initial leadership position that can be extended.”

If you think that just sounded like a very tall order, consider this. Index Venture’s first Growth fund portfolio companies had an average revenue growth rate of above 70 per cent in 2010 (versus  2009). From an initial level of generally around €20M at the time of initial investment, several portfolio companies have crossed the €100M bar this year.

Index Ventures is looking to invest in areas that are aligned with its core expertise in technology, especially in Internet and online businesses, as well as software, said the firm in a blog post announcing the launch of the new fund.

(Adam E. John is consulting editor with techtaffy.com. He can be reached at [email protected])

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.