Kennet’s U.S.-European Focus Culls Together Fund III

Kennet Partners—the growth stage firm that invests in U.S. and European tech companies from a single fund—is announcing today the close of Kennet III at $315 million (or about EUR 200 million). The firm raised about $215 million for its previous fund in 2000. I spoke with Managing Director Javier Rojas last week before he jetted off on a trip to Europe. Rojas leads Kennet’s U.S. activities from the firm’s Foster City, Calif.-based office. Kennet also has an office in London. One of the takeaways from my talk with Rojas was the cross-border angle. He and his fellow partners are excited about the strong euro and the opportunity for U.S. companies to gain access to the European Union. In fact, there are a few examples where Kennet portfolio companies have expanded across the Atlantic Ocean, including Daptiv, Medefinance and... [read full story]