The new fund — which is called Newion IV — is 50% larger than the company’s previous fund, Newion said in a Wednesday (Oct. 5) press release.
“The industry needs to become more and more digital, and we’ve been supporting software companies facilitating this transformation since our foundation,” Newion Co-founder and Managing Partner Patrick Polak said in the release. “With the larger fund size, we can support our investees with more funding power, so I would like to invite ambitious B2B startups to get in touch.”
With Newion IV, the company is expanding its 13-member team and has added Mathijs de Wit and John Sjölander as managing partners, joining Patrick Polak and Frank Claassen, according to the press release.
Newion invests in early-stage companies in the Benelux, Nordics and Germany that focus on business software and aim to grow internationally. Since its launch in 2000, it has invested in more than 60 startups, the release stated.
All existing limited partners (LPs) from previous funds have joined Newion IV, together with a large group of new LPs, Polak said in the release.
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“We feel that our investment philosophy and strategy, combined with our experience and track record since 2000, are acknowledged — resulting in a speedy fundraising process supported by a large group of LPs,” Polak said.
As PYMNTS reported in August, Bill.com CEO René Lacerte said that most small businesses in the U.S. and globally still use manual, paper-based processes.
Read more: What Headwinds? B2B Digital Payments Shift Still Growing
PYMNTS research has found that 69% of B2B buyers want their suppliers to provide them with new ways to access products and services, according to the “Global B2B Payments Playbook,” a PYMNTS and Worldpay collaboration.
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