TheStartup.eu

This is not so new, but it has been overlooked by the media, while I think it’s a very important event in the european venture capital landscape.

BaltCap has been around since 1995 and has managed four private equity and venture capital funds with total capital of €130m.

In January the closed a new €30M fund that will consist of €20m provided by EIF managed JEREMIE Holding Fund and €10m raised from local private investors, including Parex Asset Management, Hipo Fondi, LKB Krajfondi, Pirmais Slegtais Pensiju Fonds and high net worth individuals.

The fund will provide start-up and expansion financing to companies with established operations and growth potential taking equity stakes of between €300,000 and €3m, with the aim to build a portfolio of 15 to 20 investments.

Plus notably, BaltCap is the first venture capital fund to successfully complete private fund raising under the European Investment Funds managed JEREMIE initiatives in Europe, and the first structured private equity fund to be raised in the Baltics since the economic crisis hit the region.

There has been immense interest in the App Store. It has 28,000 developers who have made 140,000 apps to date. It’s amazing how much energy has been diverted to the iPhone and now the iPad platform. In its 18 month history, the App Store has a dramatic impact on our lives, not just as consumers, but has changed businesses around the world. It amazes me.

What I have seen:
Developers quitting their jobs and starting their own companies selling apps. Companies allocating resources and departments to making apps. VCs investing $24 million into an iPhone app and creating funds dedicated to app development. Companies piggybacking on the usefulness of apps. Companies extending their service to mobile. Millions of websites reviewing apps. Companies being threaten by apps.

I’m not even mentioning the impact of the iPhone itself.

If apps are the equivalent  of software, then Apple is Microsoft now. If the app store is the web, then Apple is Yahoo. I wonder who will emerge as Google. Just a thought.

Sofinnova Partners, a Paris-based venture capital firm, announced today the closure of its sixth fund, Sofinnova Capital VI, bringing in €260 million.

The firm is over 35 years old, and has backed nearly 500 companies; it has around €1 billion of funds under management, an office in San Francisco and an awesome track record.

The investors that fueled the fund include CDC Entreprises, Industrial & Financial Investments Co., JP Morgan Asset Management, funds advised by Partners Group and Skandia Life Insurance Company.

Denis Lucquin, a managing partner of Sofinnova Partners commented “Given the context of the global economy and coupled with our successes during the past 12 months, the closing of our sixth fund is testimony to the fact that our investors recognize our solid investment style and our ability to generate returns, even during turbulent economic times”.

Sofinnova Capital VI will invest in all kind of areas, its former investments (already are in healthcare therapeutics, medical devices, green chemistry, wireless and mobile technologies.

The portfolio companies include Celsius, CoAxia, Inc., Crescendo Biologics Ltd, DNP Green Technology, Inc. , Flexion Therapeutics AG, MD Start, Mydeco (UK) and Sagem Wireless (France).

Concluding, Lucquin added: “With the successful trade sales of our portfolio companies and the IPO of Movetis, 2009 confirmed that Sofinnova Partners is a major player in backing entrepreneurs and building world leading technology companies.  This to us proves that one can make money with European Venture.”

• GERMANY – HTGF and New Commercial Room invest in SciEngines

High-Tech Gründerfonds and New Commercial Room have invested an undisclosed sum in software business SciEngine

• FRANCE – Sofinnova Partners leads EUR 3.3m investment in Celsius

Sofinnova Partners, a leading European venture capital firm, announced that it has invested EUR2.2 million in Celsius X VI II, a French-Swiss firm developing unique mobile phones based on high complexity mechanics. Sofinnova’s investment is joined by AGF Private Equity’s EUR500,000 and a further EUR600,000 from business angels bringing the total funding to EUR3.3 million. Jean Schmitt, Managing Partner at Sofinnova Partners will also join the Celsius X VI II management board.

• GERMANY – Hasso Plattner Ventures co-invests in RIB Software

Venture firm Hasso Plattner Ventures and listed software company SAP AG have invested in software provider RIB Software AG

• SWEDEN – FlatFrog gains €12.5M in funding

Financial investor Invus and strategic backer Promethan have co-led a financing round for technology business FlatFrog Labratories, in which existing investor Sunstone Capital also participated. ( Press release )

• GERMANY – Triangle and ERP invest EUR 2.5m in TakWak

Triangle Venture Capital and ERP Startfonds have invested in TakWak, a spinout from FG Microtec, in a funding round worth EUR 2.5m

• UK – YFM invests £120,000 into New Net Technologies

YFM, alongside management, has invested £120,000 into software company New Net Technologies in a second round of financing for the business

• GERMANY – Acton Capital Partners acquires stake in mytheresa

Acton Capital Partners has acquired a minority stake in luxury online retailer mytheresa through an undisclosed investment

• UK – Bestport in £4.5m round for Intela

Bestport Ventures has led an investment in internet marketing company Intela, committing a little over £3m in a round totalling £4

• GERMANY – Seventure and DuMont invest EUR 2m in Tradoria

Seventure Partners and DuMont Venture have invested EUR 2m in e-commerce solutions company Tradoria, in a series-B funding round

• FRANCE – Alven invests EUR 500,000 in QuelleEnergie

Alven Capital has invested EUR 500,000 in online energy consultancy QuelleEnergie, alongside business angels who have supported the company since its formation in 2008

• GERMANY – HTGF provides seed funding for Raumfeld

High-Tech Gründerfonds has provided seed funding for hi-fi systems maker Raumfeld GmbH

• FRANCE – EdRIP invests EUR 2.5m in Smile

Edmond de Rothschild Investment Partners has backed Smile, an open source solutions company, with EUR 2.5m

• FRANCE – Aster Capital receives EUR 70m for maiden fund

Alstom and Schneider Electric, the electricity companies, are launching a joint venture capital fund, Aster Capital, targeting start-up company in the energy and environmental sector

• GERMANY – Earlybird leads EUR 3m round for EBS Technology

Earlybird has led a EUR 3m investment in medical device business EBS Technology GmbH, together with BC Brandenburg Capital

• FRANCE – I-Source supports eYeka

I-Source has invested an undisclosed amount into eYeka, a company which a provides online video and image service applications

• FRANCE – I-Source invests EUR 2m in Mobigard

I-Source, alongside Direct Energie and Bouygues Telecom Initiatives, has provided software business Mobigard with a EUR 2m investment

• UK – The Aspire Fund invests in TalentPuzzle

Capital for Enterprise’s The Aspire Fund has invested an undisclosed amount into TalentPuzzle, an online recruitment platform, alongside Venrex Investment Managemnet and two angel investors

• FRANCE – Highland CP and Endeavour provide Spartoo with EUR 12m

Highland Capital Partners and Endeavour Vision have led a EUR 12m Series-B round of financing of Online shoe distributor Spartoo

• GERMANY – JCMB and IBB back online learning portal sofatutor

JCMB Beteiligungs and IBB Beteiligungsgesellschaft have invested an undisclosed sum in online learning portal sofatutor

• FINLAND – Inventure and Nexit in EUR 3m round for Rightware

Venture investors Inventure and Nexit Ventures have co-led a EUR 3m financing round for software company Rightware

• UK – Maven’s Capital for Enterprise invests £650,000 into Qire

Maven Capital Partners, through its Capital for Enterprise Fund, has invested £650,000 into Qire, a provider of intelligent voice messaging solutions

• DENMARK – ViaVenture backs Adform

Danish venture fund Via Venture Partners has invested in online marketing platform provider Adform

• UK – WHEB Ventures invests in PassivSystems

WHEB Ventures has invested an undisclosed amount into home energy management company PassivSystems

• SPAIN – Debaeque takes 10% in BuyVip

Venture firm Debaeque has invested an undisclosed sum in online private buyers club BuyVip, acquiring a 10% stake in the business

• UK – Bridges leads £1m round for Call Britannia

Bridges Ventures, via its Social Entrepeneurs Fund, has led a £1m investment in customer contact centre business Call Britannia, alongside Big Issue Invest, management and the government’s Future Jobs Fund

• GERMANY – Balderton Capital leads EUR 5m wooga funding

Balderton Capital has led a EUR 5m investment in social gaming company wooga

• Meidlinger Partners holds $15m first close of cleantech fund

Meidlinger Partners has reached a first closing of its cleantech fund, Meidlinger Partners Sustainable Investments, on $15m

• UK – NorthStar leads £800,000 Cogenta funding

NorthStar Equity Investors (NSEI) has led an £800,000 investment into software company Cogenta Systems, alongside Hotspur Capital Partners

• UK – Orkos Capital et al. invest EUR 9m into Muzicall

Orkos Capital, Veddis Ventures and GP Bullhound have invested EUR 9m into ringback tone service provider Muzicall, alongside existing backers BlueRun Ventures and Thule Investments

• UK – Octopus launches £25m Titan VCT 4 fund

Octopus Investments has announced the launch of Octopus Titan VCT 4, a new vehicle designed to invest in early stage UK companies with a target of £25m

• ROMANIA – 3TS Capital Partners back InternetCorp

3TS Capital Partners has acquired a minority stake in Romanian online media company InternetCorp

• UK – Atlas et al invest $20m into picoChip

Atlas Venture, Highland Capital Partners, Pond Venture Partners and Scottish Equity Partners have invested $20m into wireless infrastructure company picoChip, alongside Rothschild, AT&T, Intel and Samsung, in a Series E funding round

• SWEDEN – Chalmers back NemaLabs with further SEK 5m

Chalmers Innovation Seed Fund is backing software business Nema Labs with SEK 5m in a funding round raising a total of SEK 10m for the company’s internationalisation

• UK – ePlanet invests over £1m into eCommera

ePlanet Ventures has invested in e-commerce service provider eCommera in a deal valued at £1m.

• AUSTRIA – Pontis leads $3.5m round for Xendex

Pontis Capital and a group of business angels have invested in games developer Xendex, in a financing round worth $3.5M

• UK – DN Capital invests in Apsmart

DN Capital has invested an undisclosed amount into smartphone company Apsmart

• GERMANY – HTFG and MAZ invest in MobileBits

High-Tech Gründerfonds and Maz level one have invested an undisclosed sum in software company MobileBits

• UK – Dawn Capital invests in series A round for Manic Monkey

Dawn Capital has invested an undisclosed amount into 3D animation specialist Manic Monkey in a series-A round of financing

• GERMANY – Crédit Agricole et al. invest in Upside Shopping

Crédit Agricole (CA) Private Equity has participated in an undisclosed financing round for internet business Upside Shopping, alongside seed investors Rocket Internet GmbH and existing backers

• UK – Beringea invests £1m into TH_NK

Beringea, via its ProVen VCT fund, has made a £1m investment into digital agency TH_NK

• UK – Entrepreneurs launch new venture fund

A syndicate of technology entrepreneurs have launched a new London-based venture fund, The Founders Club, open only to investors that are founders or chief executives of start up companies

High-Tech Gründerfonds, which looks like is in an investment spree, and BBAF Business Angels Fondsgesellschaft have invested €550,000 into car diagnostics software startup Autoaid