PRINT THIS PAGE German Wellington Partners closes €150m venture capital fund25/07/2005. Source: AltAssets. 
 Munich-based venture firm Wellington Partners has held a final closing of its latest venture capital fund, Wellington Partners III Technology Fund, at €150m. The fund has exceeded its original target of €120m and reached its hard cap, according to the firm.
Wellington Partners III Technology Fund is expected to invest in approximately 20 European technology companies in the electronics, ICT services, security and software sectors.
Wellington founder Rolf Dienst said in a statement, ‘We owe our success to the strong support of our loyal, long-term investors.’ In addition to cornerstone investor European Investment Fund, investors include Access Capital, AGF Private Equity, AlpInvest, CDC, Global Vision – MPC, Messerschmitt Stiftung, National Innovation Fund of Kazakhstan, Swiss Re, VCM, VenCap, von Braun & Schreiber, Westfälische Provinzial and Württembergische Versicherungen.
‘Over the past seven months, interest in European venture capital on the part of leading international investors has risen sharply,’ Dienst said. ‘We began our fundraising activities in a very difficult environment. However, our three successful exits in 2005 and our expanded team helped to assure successful fundraising.’
In April 2005 the new fund made its first investment. It invested in France-based software company NexWave.
In 2005 Wellington Partners has sold Ciao to Greenfield Online, NaWoTec to Carl Zeiss, Meiosys to IBM, and had a successful IPO with net mobile on 12 July.
Wellington Partners invests in start-ups throughout Europe in the information and communication technology and life science sectors. The firm manages a total fund volume of €400m. To date, Wellington Partners has invested in 75 companies and has sold 23 of them at a profit, in four cases through an IPO.
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