DN Capital opens US office
DN Capital, a pan-European early stage and growth equity investor in fast growing companies in the software and digital media sectors, has opened a US office in Palo Alto, California, relocating its managing partner and co-founder from London. Steve Schlenker will head up the firm's US efforts, working closely with DN Capital co-founder Nenad Marovac, who will remain as managing partner of the London office.
Since its launch in 2001, DN Capital has assisted young European companies expanding to the United States and US companies expanding into Europe. Companies in DN Capital's US portfolio include Digital Chocolate, Endeca Technologies and IGA Worldwide, and in its European portfolio include Lagan Technologies, Shazam Entertainment, and Datanomic.
Silicon Valley veteran Trip Hawkins, founder of Electronic Arts and currently CEO of DN Capital portfolio company Digital Chocolate, noted, “We're very pleased to have DN Capital in the neighbourhood. They are terrific business partners and we enjoy their European vantage point and network of contacts. With the Palo Alto new office we look forward to working more closely together to build our business.”
Justin Townsend, CEO of IGA Worldwide, added, “I am confident DN Capital's ability to help European companies enter the US marketplace, as they have done with our company. This will be even further enhanced by DN's new US office.”
Steve Schlenker commented, “While we remain committed to our core European market, we have come to realise that the information flows and expertise in Silicon Valley for our chosen sectors are incredibly deep and valuable. DN Capital has always maintained close professional ties to the US technology markets, and with the new Palo Alto office we will provide a competitive advantage for our portfolio companies.”
Nenad Marovac said, “Our firm has established a reputation for driving international growth in aspiring technology companies. With our expanded footprint now extending from London to Silicon Valley we will be even better positioned to serve our customers: the entrepreneurs and the business builders.”
DN Capital is currently investing out of its second fund, with a focus on digital media, wireless solutions, enterprise and financial services software. Recent investments out of its second fund GVC II include leading Hispanic social network Sonico, automated trading solutions provider Tbricks, genealogy upstart Familybuilder, and global free online classifieds ads platform OLX.
DN Capital looks to invest €1-10 million per company from seed to growth equity/development capital rounds in software and digital media companies. Investment activities are focused in the United Kingdom, France, Germany and Scandinavia.
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22 JUl 2008 |
