The London office of Debevoise & Plimpton LLP has advised KEEN Venture Partners LLP (“KEEN”), a new venture capital firm operating from London and Amsterdam, on the first close of its €90 million inaugural fund, KEEN Venture Partners Fund, L.P. (the “Fund”).
The Fund will seek to provide early growth capital for technology companies with breakaway momentum across Europe, with a particular focus on innovation hubs in the UK, Netherlands, Sweden and Germany. In addition, the Fund will consider North American-based technology companies looking to expand into Europe.
Key investors in the Fund include the European Investment Fund (which benefits from EU support under the COSME programme funded by the European Commission), Dutch Venture Initiative (DVI), ING Netherlands, and KPN Ventures in addition to several private investors and entrepreneurs. KEEN is targeting a final close in 2017.
The newly established VC firm has been set up by Ben Verwaayen, former CEO of both BT and Alcatel-Lucent, Alexander Ribbink, former COO of TomTom and Robert Verwaayen, former principal at Prime Ventures. The partners have significant operational and investment experience, including in scaling businesses.
The Debevoise team advising KEEN was led by London-based partner Geoffrey Kittredge, and included associates Alex Howard and Nicholas Kagan. UK tax advice was provided by London-based partner Richard Ward and associates Ceinwen Rees and Ellie Mends. U.S. tax advice was provided by London-based partner Matthew Saronson and associate Patrick Fasoro.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.
These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Keen Venture Partners LLP and that will contain detailed information about the LLP and management, as well as financial statements. Keen Venture Partners LLP does not intend to register any portion of the offering in the United States or to conduct a public offering of the securities in the United States.