European startup space has shown some real positive signs for a competitive future and to add fuel to that, e.ventures has announced its latest fund raise of $150 Million to invest in early age European startups. Along with the fund raise investment, the venture capital firm also announced the addition of Bernardo Hernández, former senior director of product at Google and General Manager at flickr, as a general partner. Bernardo has over a decade’s experience in investing and he founded his own VC firm back in 2008. Some of his notable investments include Social Network Tuenti, Retail CRM Index and mobile marketplace Wallapop.
E.Ventures has offices in Beijing, Tokyo, San Francisco, Berlin, São Paulo and Moscow. With the raised funds, it plans to invest in seed and series A round in European territory. The current fund will work alongside the $290 Million fund which is assigned to the later stage investments in the same region.
With the latest announcement, the VC firm can now target the full investing cycle of the startup and it gives an added flexibility given the case that there are very few VCs doing this in Europe.
Talking about joining e.ventures, Bernardo Hernández stated that the main reason for him to come on board was the similarities between their investment strategies. He further added that the VC firm has established a great system to use technology to find investment opportunities and he feels that it is going to be handy in the time to come.