First Closing PTV III and first investment
Amstelveen, September 14th 2007
PTV III holds first closing on €60m and makes first investment
Prime Technology Ventures (PTV) has held a first closing on its latest fund, PTV III, on €60m. The target of the fund is €150m. Its focus is on deals in North West Europe.
Investors include existing LPs of the firms’ prior fund such as Adams Street Partners, Feri, Parcom Ventures (the private equity arm of ING Group) and a number of family offices.
PTV III is a third-generation fund following PTV I and PTV II which raised €120m in total.
With PTV III the firm will continue its strategy investing in early and later stage companies in the information technology and related sectors in North West Europe.
The firm is pleased to announce the first investment from this new fund. It has invested €5m in Venspro. Venspro is the company behind Greetz the market leader in online real Greeting cards. Greetz helps people being thoughtful by facilitating them with tools to create personalized greeting cards.The company has developed a printing on demand system and has build up a successful showcase in The Netherlands. The technical architecture, the innovative business processes and strong third party relationships are a good basis for the expansion to foreign countries. With the funding the company will focus on the international roll out of the Greetz concept.
Other recent new investments of PTV are Adjustables, Netdialog and Palringo. In the last 12 months the firm successfully divested investments in Global Collect, Human Inference, MarketXS, Tridion and Watermark.
The independent partnership, which was founded in 1999, manages €180m from offices in the Netherlands and the UK.
For more information call: Marloes Drost +31 (0)615090512, +31 (0)703115866