(Bloomberg) — Venture investor Felix Capital has raised its fourth fund of $600 million, giving it additional capital to deploy at a time when plunging technology valuations have some firms seeing attractive opportunities for deal-making.
The closure of the latest fund doubles Felix’s total committed capital to more than $1.2 billion, and will be used to back companies across Europe and North America, according to a statement. London-based Felix Capital also plans to increase its investments in startups developing technologies around crypto-currencies and blockchains.
“As a firm focused around shifts in consumer behavior, we expect communities will evolve naturally on Web3 platforms to communicate and transact,” said Antoine Nussenbaum, a partner at Felix. “We want to play an early role in this journey.”
After launching in 2015, Felix Capital has backed companies including Oatly Group AB, Peloton Interactive Inc. and Deliveroo Plc. More recently it has invested in firms including former Meta Platforms Inc. executive David Marcus’s bitcoin payments startup Lightspark, and “Cocomelon” studio Moonbug Entertainment Ltd — which was acquired for $3 billion last November.
Read more: ‘Cocomelon’ Studio Fetches $3 Billion in Blackstone-Backed Deal
“This environment — frankly, we welcome it,” said Felix Capital Managing Partner Frederic Court in an interview. “When we enter a cycle like this, typically things are slower but the vintage tends to be better.”
Felix Capital is also expanding its team to 13 staffers. In December, Felix appointed former Meta executive Julien Codorniou as a partner.
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