EVP targets €105m for venture leasing fund

European Venture Partners, a provider of venture leasing products, is aiming to raise at least €105m ($130m) through a new fundraising.

European Venture Partners (EVP) has announced the launch of EVP II, a venture leasing leveraged fund sponsored by the European Investment Fund (EIF) and Deutsche Bank Alternative Assets Solutions Group.

EVP was established in 1998 by Dominion Ventures, which claims to have originated venture leasing in the US. The firm has since become one of the market leaders in venture leasing in Europe and has committed more than €155 million to 70 high-tech companies in ten countries.

EVP II will continue the first fund’s focus on venture leases and other venture debt products across Europe. Venture leasing is a combination of traditional leasing and venture capital and was devised to meet the fixed asset financing needs of early-stage, high growth technology companies.

The facilities enable management teams and their venture capital backers to leverage a company’s initial equity – stretching it through the early stages of a company’s life cycle and enabling the investors to commit less capital at the outset without impacting the company’s growth plans.

“EVP’s use of leasing facilities to provide start-ups with less dilutive and complementary financing alternatives is a valuable resource for Europe’s entrepreneurial community and sustains strong returns for investors,” said Jeffrey d’Souza, managing director at Deutsche Bank Alternative Assets Solutions.

The EIF is the European Union’s financial institution specialised in venture capital and guarantees for SMEs. Deutsche Bank’s Alternative Assets Solutions Group provides capital markets coverage and solutions for private equity funds, funds of funds, real estate funds, hedge funds and a number of illiquid asset classes.