Ananda Impact Ventures, a Munich-headquartered venture capital firm, has reached a first close on its fourth fund at €65 million. The firm has increased its fundraising target from €75 million to between €90 million and €100 million.
Investors include the European Investment Fund, which has committed up to €20 million, Big Society Capital, former managing director at London-listed investment firm 3i Peter Cullom, and other family offices, according to Ananda’s statement.
Big Society Capital described Ananda IV as “one of the largest social impact venture funds to date”. EIF and Big Society Capital also invested in Ananda’s 2018-vintage third fund.
Ananda invests in European technology companies in health, social care and climate sectors. Previous investments include Open Bionics, a children’s bionic limbs company, and Auticon, which facilitates IT consulting work for people with autism.