FirstMinute Capital finds Tencent for $85m second close

Sep 15, 2017 • Callum Cyrus

FirstMinute Capital, a fund launched by Lastminute.com founder Brent Hoberman, has added $25m from backers including corporates Tencent and Nan Fung Group.

UK-based venture capital fund FirstMinute Capital raised $25m from limited partners (LPs) including internet group Tencent yesterday to reach an $85m second close, TechCrunch has reported.

Tencent was joined by another China-headquartered corporate, property developer Nan Fung Group, and entrepreneurs Cheung Chung-Kiu, Frederic Mazzella and Wes Nichols.

FirstMinute Capital aims to tap entrepreneurial expertise drawn from across Europe to support tech startups on the continent. Its LPs also include Atomico, the investment firm set up Niklas Zennström, the founder of…

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