500 million to create a European Palo Alto from London

Based in London, Phoenix Court Group and its four investment funds dedicated to technology companies will invest 500 million dollars in Europe over the next few years. Belgium could occupy a place of choice in this territory.

Despite Brexit, the ties between the continent and the British island remain strong, especially in the technological field. The London capital has among the largest European and global investment funds in the technology sector. One of them, LocalGlobe which is one of the reference funds for the seed phase of European start-ups, announces that it will investing $500 million in the European ecosystem and changing its name to Phoenix Court Group. He wants to do this to “help founders and their teams in the world’s third-largest innovation ecosystem build world-class tech companies,” from seed stage to public markets.

“A city like Brussels will still produce many innovative and fast-growing private technology companies.”

George Henry

General partner of LocalGlobe & Latitude

Phoenix Court Group will therefore now also invest in early-stage technology companieshaving gained a reputation by investing in early-stage start-ups, including some have become unicorns. The group intends to do so within a radius of action located four hours by train from central London. An area called “new Palo Alto” by Saul Klein who is the head of the structure. Belgium occupies a prominent place there, as confirmed by George Henri, the general partner of the LocalGlobe and Latitude funds, from the Phoenix Court Group: “Belgium is at the heart of this enormous ecosystem and technological market, which has already started to produce many category-defining businesses, like Odoo, Collibra, Showpad and Cowboy. We are convinced that with its history marked by social and economic inclusion, its role at the heart of European governance and its world-class universities, a city like Brussels will continue to produce many innovative and fast-growing private technology companies. “

In London, Charleroi impresses

others local ecosystems, such as that of Charleroi, impress as far as London. “Innovation and technology skills are not confined to capital cities. In the UK, Manchester has developed a strong cluster of digital technology companies and, in the Netherlands, Eindhoven is the leader in semiconductors The same is happening in Belgium, as we saw with Aerospacelab this month, which places Charleroi firmly at the center of European space technology,” adds George Henri.

Phoenix Court Group now includes four separate funds, each targeting a particular stage of the market: LocalGlobe, focused on the pre-seed and seed phases, Latitude, focused on the hatching and early growth phases, and new funds, Solar and Basecamp. Solar will be the dedicated fund for companies aiming to go public and Basecamp brings together 50 funds and investors from Africa, Asia, Europe, India, Israel and the United States.

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