Summary
Source: Tech.eu Read the original article
European
early-stage venture capital firm Entourage has closed its second fund at €100
million, just over two years after launching its first fund in 2024. The fund
exceeded its initial €75 million target within two weeks and was subsequently
capped at €100 million.
Founded by
Pieterjan Bouten, co-founder and former CEO of Showpad, Entourage focuses on
investing in early-stage technology companies.
Since its
launch in 2024, Entourage has invested in several European technology
companies, including cybersecurity startup Aikido Security, which reached
unicorn status earlier this year, Conveo, which recently raised a $50 million
Series A, and Lexroom, which reached €30 million in annual recurring revenue
within 24 months. Entourage was among the earliest investors in all three
companies, backing them before they attracted larger international venture
capital investors.
When we
launched Entourage two years ago, we had a simple ambition: to back the next
generation of legendary founders. We wrote the first cheques into companies
like Aikido, Conveo and Lexroom. What these founders have achieved in such a
short time has only strengthened our conviction in our generalist,
founder-first approach. With Fund II, we’re doubling down,
said Pieterjan (PJ) Bouten, Founder and
General Partner of Entourage.
With its
second fund, Entourage plans to invest in approximately 25 companies at the
pre-seed and seed stages across Europe and other markets. Initial investments
will range from €1 million to €5 million, with additional capital reserved for
follow-on funding rounds.
While its first fund focused primarily on software
companies, the new fund will target a broader range of technologies, including
artificial intelligence, enterprise software, robotics, physical AI and
deeptech.
The next
decade will produce some of the most iconic technology companies in history,
and it’s time for Europe to rise to the occasion. AI is reinventing software
and taking intelligence into the physical world. Entire industries will be
rebuilt. We want to back the founders bold enough to lead that transformation,
said Bouten.
In addition
to its investment activities, Entourage operates Entourage Studio, a
venture-building arm that combines entrepreneurial talent, capital and
operational expertise to co-found new companies. Tekst, an AI-powered
enterprise process mining and automation company developed through Entourage
Studio, recently raised a €10 million Series A.
Alongside
the launch of Fund II, Entourage has expanded its investment team, led by
partners Pieterjan Bouten, Evert Beeckman and Maarten Mortier. The firm has added three
investors, Erwan Gardelle, Sixtine Riescher and Illja Schiller, opened an
office in London and established a presence in Paris.
Entourage
also follows an investment approach that limits its involvement in portfolio
company governance. Despite leading or co-leading most of its funding rounds,
the firm rarely takes board seats, favouring a model that gives founders
greater independence in managing their businesses.
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Source: Tech.eu
