News – Venture Capital & Private Equity practice
14 January 2015
Cresco acted as lead counsel to the general partner in the structuring, formation and fundraising of Volta Ventures ARKIV, a uniquely structured venture capital fund for early-stage internet and software companies in the Benelux.
Following its founders’ closing the committed capital of the fund amounts to over EUR 40 million.
In addition to ARKimedes-Fonds II (an initiative from the Flemish investment company PMV and the Flemish Government) and the European Investment Fund, Volta Ventures has attracted the participation and seal of approval of various well-known entrepreneurs such as Peter Hinssen (Across), Jan Vorstermans (Qunova), Michel Akkermans (Clear2Pay), Jürgen Ingels (SmartFin Capital) and Jonas Dhaenens (Combell). The involvement of those high-profile Volta Angels has led to the fund being dubbed “superstar fund” in the press.
The fund will typically invest between EUR 250,000 and EUR 1,000,000 to obtain an equity stake of 20% to 40% in portfolio companies.
Further information regarding the incorporation of Volta Ventures can be found here.
David Dessers, Pieter Capiau and Lukas Decoster constituted the deal team for this transaction.