Earlybird’s US and German fund raises E243m

The new fund, Earlybird III, has already invested in 14 companies in Europe and the US.

German-American venture capital company Earlybird has announced that its Earlybird III investment pools have raised E243m.

US Earlybird III LP, which was launched in the middle of 2000, closed last week and its German equivalent, launched at the beginning of last year, closed last August.

Approximately 18 per cent of the total amount is already invested in 14 companies which focus on software, wireless communications, health tech and infratructure components. So far the investments have been equally distributed between the US and Europe.

Last month, Earlybird made a return investment in Israel-based Mutek Solutions, which develops software solutions that improve the availability of business critical software.

The venture capital company usually invests between $10-30 m in its portfolio companies. Initial investments typically range from $3-5m. Earlybird currently manages three funds totalling $280m in committed capital.