We have learned that the first close of SpeedInvest II was planned for the end of 2014 and the final close by the end of 2015.
Besides financing, SpeedInvest II will take advantage of the potential synergies between the entrepreneurs from Pioneers and individual start-ups in order to accelerate their growth.
The good news is that the new vehicle has already received first commitment of approximately 20% of the fund from a regional bank. As far as the fundraising process is concerned, in order to access the fund, private investors will have to put a minimum of €300k, while institutional investors will be asked to commit at least €1m.
SpeedInvest II will focus on investing in German-speaking countries and the Eastern European ones, where the fund is planning to allocate approx. two thirds of available funds. The rest will be distributed among the remaining European countries. Regarding sector focus, Speedinvest II will be looking for companies in digital space field, mainly Fin-tech and IP-driven start-ups centered on engineering.