KPN Ventures to invest in Cottonwood, marking first fund-in-fund investment
May 23, 2016
-KPN Ventures, the venturing arm of KPN, has entered into an agreement with the Cottonwood European Technology Fund (CETF) to become one of its cornerstone investors. CETF is a venture capital fund specialised in high-tech companies in an early stage of development. The investment represents KPN Ventures’ first fund-in-fund investment.
“Investing in CETF enables us to expand our own scope and network in the technology-driven seed- and early-stage innovation ecosystem in Northern Europe,” said KPN Ventures Director Herman Kienhuis. “It will provide us with more opportunities for strategic partnerships with highly innovative technology companies and potential growth stage investment opportunities, also outside The Netherlands.”
Cottonwood is a U.S. fund excelling in early stage science-based investing outside Silicon Valley and Boston. Cottonwood focuses on regions rich in ideas, but emerging in the areas of experienced management and capital. CETF primarily invests in companies active in areas such as photonics, telecommunications and healthcare. The investments in CETF complements KPN Ventures’ own direct investment activities such as the recently announced investment in EclecticIQ.
“We’re pleased to welcome KPN as a cornerstone investor in our European fund. Being a Global 1000 company and a leader in communications, KPN is a great innovation partner and provides an ideal testing ground for so many of the technologies we are finding and supporting. KPN is willing to be an early adopter and help the companies test their products in live applications and pilots which is evidence of how entrepreneurial they truly are,” said Ray Quintana, General Partner and Head of European Operations and Corporate Relationships for Cottonwood.
About Cottonwood Euro Technology Fund
**** Cottonwood primarily invests in companies active in photonics, advanced materials, healthcare, telecom, automotive, mobility and clean energy. Cottonwood Europe Technology Fund (CETF), Cottonwood’s European fund, is based in the Netherlands and serves The Netherlands, Germany, France and Belgium. Preqin, a recognized leader in tracking private equity fund performance, lists Cottonwood as a top performing early stage VC fund in the US. Cottonwood’s investment strategy focuses on international growth from the beginning and recruiting all resources needed for success to partner with the company in its region of origin.
Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.