London-based investment firm Flashpoint has closed its third $102 million fund. The fund focuses on investments in Series A tech startups based in Europe. This was reported on the company’s blog on Medium.
Flashpoint also attracted the first institutional partner, Széchenyi Funds. A Hungarian fund has invested $20 million in Flashpoint VC III. Along with this amount, Flashpoint reached the target size of the third fund: it was supposed to be $100 million.
Flashpoint launched its third venture fund in late 2020 and planned to invest in 15 tech companies in a round of A.
The hedge fund was founded in 2012 by Russian financiers Alexander Konoplyasty and Mikhail Salontai. Flashpoint invests in software companies from Central and Eastern Europe, Israel, Finland, the Baltic States, Armenia, Belarus, Russia and Ukraine that do business internationally. The fund was previously called Buran Venture Capital.
The fund acted as an investor in Shazam, ivi, Dostavista (now Borzo) and other startups. Flashpoint’s latest investments include $10 million in digital concierge ByNext and $7.86 million in Russian transportation service Fura.
Author:
anastasia mariana
Source: RB
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