Berlin – A YPOG team led by Helder Schnittker, Stephan Bank, and Lennart Lorenz has provided comprehensive tax, legal and regulatory advice to HV Capital, a leading early-stage and growth venture capital investor in Europe, on structuring Fund IX with a size of more than €700m, the largest fund ever raised by HV Capital.
HV Capital Fund IX further expands HV Capital’s capability to invest in technology disruptors across all growth phases. The new fund generation is split into two vehicles, “Fund IX Venture” and “Fund IX Growth”, and will target companies from Seed to Series D and beyond, with initial ticket sizes of €500k to €60m. HV Capital’s team will focus on the next generation of high growth companies across markets and throughout Europe. Fund IX was backed by institutional investors from Europe and the United States and will allow HV Capital to continue on its 23-year investment track record.
Fund IX builds on HV Capital’s commitment to advancing ESG in the venture capital ecosystem, with commitments made under Article 8 of the EU’s Sustainable Finance Disclosure Regulation (SFDR). In line with this, HV Capital is targeting 33% female representation in C-Suite level positions across the portfolio, as well as having 30% of the funds allocated to companies aligned with the Climate Action & Environmental Sustainability criteria of the European Investment Fund (EIF), by the end of the fund’s lifecycle.
“Raising one of the largest funds in German venture capital history in such a difficult global fundraising environment is a great success for HV Capital, for which we would like to congratulate the entire team”, says YPOG partner Helder Schnittker.
“We are proud that HV Capital has entrusted us with such a complex structuring project and look forward to our future cooperation”, adds YPOG partner Stephan Bank.
Furthermore, a YPOG team led by Lennart Lorenz advised HV Capital on the granting of a full BaFin licence. This makes HV Capital one of the first venture capital fund managers to operate under this demanding regulatory regime, which is aimed at fund managers managing substantial assets.
“With BaFin's full licence, new regulatory ground was entered. HV Capital's ability to obtain such a license as one of the first venture capital fund managers demonstrates its established presence in the German market”, says YPOG partner Lennart Lorenz.
Advisors HV Capital (Fund Structuring)
