Frontline Ventures based in London, Dublin and San Francisco has announced Frontline Seed fund III, which is a €70M (nearly £61.3M) to support European B2B technology founders with global ambition.
With this new fund, the VC firm has €250M (nearly £219M) funds under management. Notably, this new fund comes just months after the launch of Frontline X, a growth-stage fund for US to Europe expansion.
Seed Fund III includes the European Investment Fund (EIF), Ireland Strategic Investment Fund (ISIF) and AIB as investors. These have also all backed prior funding rounds in Frontline Ventures. Also, it includes ten exited software entrepreneurs from across Europe and the US. The fund comes at a time when the US giants are engaging more actively in Europe.
Partner William McQuillan said, “Today, Europe rightfully finds itself on top-tier US investors’ target list, but global expansion remains an important challenge to solve. As a team, we’ve pooled all of our experience and resources into helping our founders cross the Atlantic. Seed Fund III will be an extension of our work – to help founders get off the ground – and go global. Having both a Seed and a Growth strategy aimed at expanding across both sides of the Atlantic, gives us a unique perspective into the fundamentals building of a global business.”
Helps European founders expand in the US
Its Frontline Seed fund strengthens and accelerates ideas at inception across Europe. Frontline X is a growth-stage fund, for fast and frictionless US-Europe expansion.
Detailing on Frontline Seed, it has been an active investor across Europe all these years and has invested in early-stage B2B tech and helping European founders expand to the US. It has backed a series of successful companies in Seed Funds I and II. Its portfolio includes Logentries acquired by Rapid7, Orchestrate acquired by CenturyLink, and Pointy acquired by Google in 2020. In May last year, Frontline invested in Irish HQ’d company Evervault alongside Kleiner Perkins, Index and Sequoia.
Frontline counts on active advisors and LPs in executive roles of US companies that have expanded including Slack, Cloudflare, Dropbox, Stripe, Segment, Looker, Indeed, Facebook, LinkedIn and Workday. The VC firm has enabled entrepreneurs to grow globally as the partners of Frontline have experience at companies including Google, Twitter, SurveyMonkey, Airtable, and Yammer.
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