Thompson Taraz is delighted to announce that it has been appointed to provide depositary services to the recently launched Octopus Zenith Opportunities Fund II LP (“Octopus Opportunities fund”). Aimed at providing growth capital to successful fast-growing later-stage companies across Europe, the US$140m Octopus Opportunities fund has been launched by Octopus Ventures, part of the Octopus group. The Octopus Opportunities fund is dedicated to follow on investments into existing companies within the Octopus portfolio, as well as having the opportunity to back later-stage high growth businesses new to Octopus. The institutional-only fund is now closed to new money.
The Octopus Opportunities fund will see Octopus invest between £250,000 and £25 million into Europe’s most talented entrepreneurs, enabling the team to back businesses from inception through to the later stages of development.
The first investment from the Octopus Opportunities fund has already been made, with Octopus leading the recent US$60m round with Google Ventures into Secret Escapes, the London-based members’ only luxury travel site.
Martin Heffernan, Director of Thompson Taraz Depositary Limited commented, “We are very pleased to establish a new relationship with Octopus on a fund that looks to build on their success in an interesting sector.”
Thompson Taraz’s joint venture partners, IAG , are providing fund administration services such as accounting, financial reporting, cash management and investor reporting to the structure.