White Star Capital, an early-stage venture capital (VC) firm with offices in London, New York, Montreal, Paris, and Tokyo, has closed its second fund at $180 million.
The firm closed its inaugural institutional fund at $70 million back in 2015, though the founders had been investing their own money under the White Star Capital brand from as far back as 2007. Indeed, the firm already claims some notable companies in its portfolio, including Dollar Shave Club, which White Star Capital invested in as part of the former’s seed round back in 2012 — before the toiletry service startup sold to Unilever in a $1 billion deal four years later.
White Star Capital has already invested in eight startups from its second fund, which it said was oversubscribed by $40 million. The new pot will be used to invest in around 20 startups in total, with individual investments ranging from around $1 million to $6 million. The company is targeting startups in Europe and North America that are looking to grow internationally, and White Star is looking at an array of industries, from fintech to digital health. But a core focus will be startups that “use data as a competitive advantage,” according to a statement issued by the firm.
A number of new funds have emerged from Europe in recent months, including London-based DN Capital, which announced a $247 million fourth fund for early-stage startups, and Kindred Capital, which closed its first pot at $112 million. Seedcamp, often referred to as the Y Combinator of Europe, also recently announced a fresh $54 million fund to invest in 100 European startups.
For its latest fund, White Star Capital has nabbed a global spread of investors across Europe, North America, and Asia — including Business Development Bank of Canada (BDC), Korea Venture Investment Corporation (KVIC), La Capitale, and Ubisoft.