Crestbridge’s team in Luxembourg has provided a range of services to support the successful close of Hiro Capital’s latest fund, bolstering its existing relationship with the innovative tech-focused Venture Capital firm.
Drawing on its well-established Management Company (ManCo) platform in Luxembourg, Crestbridge was appointed as the EuVECA Manager whilst the firm also provided a range of fund administration, accounting, and reporting services to support the launch of the €300m ‘Hiro Capital II’ fund.
The fund is Hiro Capital’s second venture capital fund in three years and will target early-stage games and Metaverse innovators across the UK, Europe, and North America.
The partnership represents an extension of Crestbridge’s long-term relationship with Hiro Capital, a leading specialist European Venture Capital firm focused on videogames, Metaverse technologies, creator platforms, and gamified fitness. Crestbridge’s Luxembourg team also provided AIFM services to the investment firm’s first fund launch in 2019, a fund that has since reached €115m and made 21 investments in leading emerging games studios and gamified fitness and creator platform stars.
In 2011, Crestbridge became one of the first firms to establish a ManCo in Luxembourg, whilst the firm was granted a fund administration licence by the CSSF in 2019 in a move that further strengthened the company’s capabilities in the jurisdiction.
Commenting on the latest Hiro Capital fund launch, Pierfrancesco Rinaldi, Business Development Director, said:
“It’s clearly very exciting to be supporting such a cutting-edge venture capital fund which is backing some of the leading innovators who are creating the digital communities of tomorrow. At the same time, it’s really pleasing to be able to continue to strengthen our positive relationship with Hiro Capital, which stretches back a number of years.”
Alex Di Santo, Group Head of Private Equity at Crestbridge, said:
“We are continuing to see a rise in demand for support in the digital and technology venture space, and this is the latest example of that. Our Luxembourg team has unrivalled experience in providing a full range of ManCo. fund administration and corporate services to support the often specialist objectives of managers like Hiro Capital. That experience, combined with our commitment to first-class client service, makes life easier for fund managers when it comes to fund launches, enabling them to focus on what they do best – fundraising and making great investments.”