London-based Felix Capital announced today that it has closed its second fund as it continues to focus on startups in creative industries.
Felix said the second fund of $150 million was oversubscribed and comes just two years after the firm raised its first fund of $120 million. To date, Felix has raised $300 million.
“We started this with the conviction that there was an opportunity to build something that was more than just another general European venture capital fund,” said Felix cofounder and partner Frederic Court. “We wanted to position ourselves at the intersection of technology and creativity.”
Felix’s news comes amid a flurry of other European VCs announcing the closure of new funds. That includes French VC firm Breega, which has a new $113 million fund. And Iris Capital, a European VC firm headquartered in Paris, recently closed a $280 million fund aimed at seed- to growth-stage startups.
Since its official start two years ago, Felix has focused on early-stage investments, primarily in Europe, but including some in the U.S. Court said France has emerged as the firm’s top market, ahead of both the U.K. and the U.S. It typically invests between $2 million to $5 million, but can go up to $10 million.
Felix’s investments include Farfetch, Gwyneth Paltrow’s Goop, The Business of Fashion, Shine, and Olapic.
With the new fund, Felix also expanded its investment team to include entrepreneurs Sasha Astafyeva and Jon Kamaluddin.