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Berlin-based venture capital investment firm Blue Yard Capital has raised the second venture capital fund of €105 million. Co-founders Ciaran O’Leary and Jason Whitmire have themselves invested in the current fund to support innovative technologies. Notably, other VC partners contribute only 2% of the total funding.
The declaration of the second funding has come within just two months after the company invested €6.7 million in a presentation software provider Pitch. With that being said, the VC firm generated its first phase of funding back in 2016 around €110 million. Notably, the investors were universities and different US foundations.
O’Leary stated, “We discussed the economic storm clouds on the horizon, but the early stage investing we’re doing isn’t immediately impacted by the wider economic environment. Our investors are highly experienced institutions that understand the environment. We hope, if anything, that thing is now less frothy in tech, so that makes the market more attractive for us. We have some investments in cryptocurrencies but we haven’t done anything in that space for some time because of our concerns about the market conditions.”
O’Leary and Whitmire met at Berlin VC firm Earlybird where they used to work together. The duo is eager to invest in potential startups that specialise in providing cutting-edge software solutions integrating web users.
Earlier in October 2018, Blue Yard pumped €3 million into Meatable, a company that grows meat cells in a laboratory. Besides, they also sponsored online 3D design software Vectary and StdLib, an e-library for web services.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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