Observed Signal · Jul 3, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Forestay Capital closes second fund at $220M
Swiss VC firm Forestay Capital announced the final close of its second fund, Forestay Capital II ILP, with $220 million in commitments. The fund focuses on early-growth Enterprise AI and SaaS companies, typically leading rounds of $10–15 million. It has already backed cybersecurity startup Veriti and engineering-intelligence company Neural Concept. Forestay is an enterprise-technology fund under B-FLEXION, the investment firm of the Bertarelli family. Its first fund backed 13 companies, including Wasabi, Nexthink, Scandit, and K2View, producing three unicorns and two acquisitions with an average gross IRR above 50 percent. Limited partners in the second fund include several large European family offices, notably Anaïs Ventures, the investment vehicle for members of the Firmenich family.
The $220M fund close demonstrates continued investor confidence in Enterprise AI and SaaS, sectors that increasingly underpin marketing and advertising technology, though the news is not directly about AdTech.
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Key Takeaways & Evidence Grounding
- Forestay Capital closed its second fund, Forestay Capital II ILP, with $220 million in commitments.
- Forestay II focuses on early-growth Enterprise AI and SaaS companies, with a $10–15 million lead investment sweet spot.
- The new fund has already invested in cybersecurity startup Veriti and engineering intelligence company Neural Concept.
- Forestay I invested in 13 companies including Wasabi, Nexthink, Scandit, and K2View; three reached unicorn status and two were acquired.
- Limited partners in Forestay II include European family offices, including Anaïs Ventures from the Firmenich family.
Connected Companies & Entities
1 Entity mapped“Forestay I backed 13 companies, including Wasabi, Nexthink, Scandit, and K2View of which three reached unicorn status, and two were acquired...”
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