Bootstrap Europe, the venture debt fund with offices in London, Zurich and Luxembourg, has closed €130 million of additional funds to invest in technology companies.
With new commitments from Limited Partnerships (LPs), Bootstrap Europe’s Fund III will focus on sustainability as it strengthens its ESG responsibilities internally. Funding will be allocated to technology small and middle sized enterprises pushing growth and innovation through ground breaking technologies set to change society as we know it today across Europe, particularly the DACH region, France and UK.
Fund III’s backers include previous LPs, the British Business Investments (BBI), the investment arm of the British Business Bank and the European Investment Fund (EIF). As part of this round, Visa Foundation has placed $7 million of which BBI matched the commitment with a second re-up.
In what has been a stellar quarter, Bootstrap Europe has invested into new transactions in different industries ranging from liquid biopsy to media rights and sustainable packaging, and arranged its first large facility in France, of €55m, as lead agent.
Led by Stephanie Galantine Heller and Fatou Diagne, the business has made strides in recent years with their client list including heavy hitters Scandit, Blueprint Genetics, TransferGo and securing institutional investment having previously received funding from European Investment Fund and twice from the British Business Bank.
Bootstrap Europe’s record of backing businesses within recession-proof industries and the fund’s experience in decorrelated exposure from market movements has allowed them to grow despite the clear challenges that investors and lenders have faced over recent years due to increasing market turbulence. Plus, choosing to keep the fund selective and much more focused compared to its peers, has given them an edge in the market.
Stephanie Galantine Heller, Managing Partner and co-founder of Bootstrap Europe commented: “We strongly believe that investing into businesses who apply state-of-the-art technology to solve day-to-day challenges or who are creating unique solutions to gaps within industries that are relied on globally will have a monumental impact on the world we and future generations will inhabit.”
Fatou Diagne, Managing Partner and co-founder of Bootstrap Europe commented on Visa Foundation’s participation in the fund: “Visa Foundation’s proven track record in global investment and the $7 million cash injection into Bootstrap Europe allows us to increase our sustainable footprint across Europe and the UK. It is up to all of us in 2023 to align ourselves with missions, businesses and initiatives that not only talk the talk, but walk the walk. Investing ethically, in more diverse leadership teams and in a smart way is what we strive to do, and we can confidently say that we will continue to do that through this investment.
Visa Foundation believes in uplifting everyone, everywhere through the power of economic inclusion. The Foundation seeks to eliminate barriers to capital and invest in those who have been historically excluded from economic opportunity by working through investors and financial institutions, making Bootstrap Europe a good fit.
Najada Kumbuli, Head of Investments at Visa Foundation commented: “Fatou, Stephanie and the whole Bootstrap Europe team are incredibly astute at financially and strategically supporting flourishing, viable businesses across Europe and the UK. We are thrilled to invest in Bootstrap, a women led fund that invests in diverse entrepreneurs leading the way on effectively aligning profits and purposes to positively impact the economy, society and our planet.”
About Bootstrap Europe
Bootstrap Europe supports thriving industries across Europe, from green technologies and genetic testing to SaaS, fintech and smarter city solutions; the team’s collective experience has ensured that the fund includes some of Europe’s fastest, socially-focused scale-up businesses.