New Enterprise Associates (NEA) collaborates with Speedinvest – 55M USD for European Startups

New Enterprise Associates Collaborates with Austrian VC Speedinvest – $55 million for EU Startups

New Enterprise Associates, the world’s largest venture fund by assets under management, invests $5M in Speedinvest’s second fund and reserves $50 million to drive global growth in Speedinvest’s portfolio of top EU startups

Global venture capital firm New Enterprise Associates, Inc. (NEA) and Speedinvest GmbH today announced a collaboration that could see $55 million in early-stage and growth capital reserved for the best global companies to emerge from Europe’s burgeoning startup scene.

While European countries such as Germany and Austria have produced global brands like SAP and Red Bull, European entrepreneurs traditionally face a shortage of venture capital and small, fragmented local markets. Speedinvest was designed to provide not only the necessary seed-stage capital, but also the hands-on support of its founders, all successful serial entrepreneurs, in addition to a strong EU-USA bridge program.

The Speedinvest formula has yielded excellent results in a short time, and New Enterprise Associates announces today that it will be focusing some of its capital and resources in an effort to help provide a global platform for the best European startups. NEA will invest $5 million directly into Speedinvest’s newly launched second fund, and anticipates reserving $50 million for follow-on investment in Speedinvest portfolio companies.

NEA is one of the largest venture capital firms in the world with over $17 billion cumulative committed capital since inception, having recently closed its fifteenth fund with $2.8 billion dollars in committed capital. The firm has invested in companies such as Salesforce, Groupon, Box, Silicon Graphics and Macromedia that have defined the technology and economics of Silicon Valley. NEA executes a diversified venture strategy across geographies, with offices in China, India and across the US, in addition to having a broad portfolio, investing in companies at all stages of growth and across a diverse range of sectors including healthcare, consumer technology, and enterprise software and services.

‘We see tremendous opportunity in the European startup ecosystem, and have invested in some very promising companies like GoEuro. By collaborating with Speedinvest, we can create a platform that helps ensure the very best EU startups have sufficient access to capital to achieve global scale,’ said Scott Sandell, NEA Co-Managing General Partner. ‘Like NEA, Speedinvest is a team of company builders. We believe that supporting Speedinvest’s innovative model is a great way to expand our focus in this key market.’

In addition to providing capital, Speedinvest’s general partners also take operational roles with portfolio companies to accelerate growth, particularly in business and corporate development. Speedinvest’s Silicon Valley operations shorten the steep learning curve, and provide seasoned entrepreneurial talent for fundraising and customer acquisition that are often out of reach of European startups. This ‘hands-on’ formula addresses the primary challenges facing European founders, and has been validated with strong results. Speedinvest has produced 4 exits in the past 12 months.

‘NEA and Speedinvest are well aligned in their view of the opportunities offered by the European startup market, and for Speedinvest this collaboration represents the best possible opportunity for our companies,’ said Oliver Holle, founder and CEO of Speedinvest. ‘It gives them the ability to achieve a global scale that only a handful of funds can provide. NEA also represents the very top-tier of the Sand Hill Road funds, a firm that has written the history of venture capital, and their support is a great show of appreciation for what we have built here in Europe.’

About NEA
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since inception NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. www.nea.com.

iyzico Closes $ 6.2 Million Series B

iyzico Closes $ 6.2 million Series B Investment Round with the IFC, 212, Endeavor Catalyst and Speedinvest

iyzico, the Istanbul based payment solutions company, closed a $6.2 million Series B investment round with the International Finance Corporation (IFC), the World Bank’s investing arm, Istanbul based venture capital firm 212, New York based investor Endeavor Catalyst, and Speedinvest from Austria. The IFC led the investment round.

The investment, which brings iyzico’s financing to date to $ 9.4 million, will allow iyzico to expand its research and development team, and scale its payment technology globally.

“We’re thrilled to work with the IFC, 212, Speedinvest and Endeavor Catalyst,” said iyzico CEO Barbaros Ozbugutu. “It is particularly exciting to work with the IFC – a body with tremendous knowledge and experience in financial tech sector worldwide. Having become the leading payment solution for online businesses and enterprises in Turkey, iyzico is enthusiastic to take its technology global.”

As it looks beyond Turkey, iyzico plans to target the markets of the Middle East. “Our goal is to become the Stripe of the region,” Ozbugutu said. “We’re eager to bring our easy to use and effective payment solution to the many online companies sprouting and scaling up from Lebanon to Jordan and beyond.”

“Iyzico provides comprehensive online payment solutions for ecommerce merchants and marketplaces.  Iyzico-enabled merchants can offer consumers a broader choice of local payment options at lower cost and with improved security.  We believe the company will be an important part of the infrastructure for Turkey’s fast growing ecommerce sector” said Andi Dervishi, Head of IFC’s FinTech Investment Group.