London, 14 October, 2019: Bluetower Associates announces the successful closing of Octopus Zenith Opportunities III.
The $110 million fund, which is managed by Octopus Ventures, provides high growth European technology businesses with the capital and expertise they need to fuel their next phase of growth. Zenith III follows on from the success of both Zenith I and Zenith II whose portfolio companies include Zoopla Property Group and Secret Escapes.
Octopus is one of Europe’s largest technology investors, with 20 investment professionals managing over £1 billion in assets. Octopus’ Ventures team has invested into over 100 companies over the last decade.
Bluetower Associates advised on and placed the fund. Bluetower generated the original concept to address structural issues faced by UK VCT and EIS managers. The second and third funds represent the continuing evolution of the product offering.
Alliott Cole, CEO at Octopus Ventures, said: “This is the third Zenith fund that Bluetower Associates has placed for Octopus Ventures. Tim and his team have shown a consistent ability to understand our strategic objectives, match those with the needs of both our existing and new investors and deliver on all three. Additionally, their specialist knowledge of the secondaries space is illustrated by the many innovative suggestions they have made since 2013.”
Tim Griggs, Managing Partner at Bluetower Associates, said: “Since structuring and placing the first Zenith fund in 2013, we are pleased to have worked closely with the Octopus team to realise their goal of giving institutions access to some of Europe’s most exciting and fast-growing technology companies as they enter the growth phase of their development.”