Omers launches €300m European venture capital fund
Canadian pension fund Omers has launched a €300m (£257m) European venture fund based in London in a vote of confidence in the continent despite Brexit uncertainty.
Omers Ventures, which has previously backed e-commerce platform Shopify and flight-booking app Hopper, plans to target the rise in start-up activity across Europe.
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Entrepreneur and investor Harry Briggs, who has previously invested in UK unicorn The Hut Group and digital bank Revolut, will lead the team as managing partner,
Briggs said: “Venture Capital is increasingly a global business, and it’s exciting to be launching a substantial new European fund that, from day one, can draw on fellow team members across North America, as well as Omers’ global connections as an investor from Sydney to Singapore, and Berlin to Boston.
“In our view those connections will help us give European founders and unfair advantage when scaling internationally.”
The new fund announced today will focus on companies at the Series A to Series B stage, and said it will invest between €5m to €10m per round.
Damien Steel, head of Omers Ventures, said: “We have seen the European tech sector reach escape velocity over the past couple of years, producing more and more companies recognised worldwide.
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“As the next step in our global expansion strategy, we are now committing dedicated capital to the continent’s most innovative startups because we believe the best is yet to come.”
Briggs will be joined by former Local Globe partner Tara Reeves and ex-angel syndicate manager Henry Gladwyn.