Prime Technology Ventures has had a first close on €60 million for its third fund.
The fund is targeting a €150 million final close. The venture firm targets north west European companies in early and late stage investments in information technology and related areas.
Many investors from the previous fund backed the company again, including Adams Street Partners, Feri Trust, and Parcom Ventures, the private equity arm of Dutch bank ING Group
The firm’s second fund raised €120 million. The firm has made its first investment from this fund through a €5 million in online greeting company Venspro.
The fund has also recently backed software company Adjustables, business service company Netdialog and voice-SMS company Palringo.
Prime Technology Ventures was founded by Sake Bosch in 1999 and it manages €180m from offices in the Netherlands and the UK.