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Dawn Capital

Europe, England, United Kingdom, London

Description

Dawn Capital stands out as Europe's largest specialist B2B software investor, headquartered in London, United Kingdom. The firm has carved a significant niche by exclusively focusing on the enterprise software and FinTech sectors across the European continent. With a strategic emphasis on identifying and backing the next generation of category-leading companies, Dawn Capital plays a pivotal role in nurturing the growth of innovative technology businesses from their early stages. Their deep sector expertise allows them to provide more than just capital, offering strategic guidance and operational support to their portfolio companies.

Investing primarily from Series A and B rounds onwards, Dawn Capital typically leads or co-leads investment rounds, demonstrating a strong commitment to their portfolio companies. Their initial investment checks generally range from $5 million to $25 million, reflecting their capacity to provide substantial early-stage funding. This focused approach enables them to build high-conviction portfolios. The firm has consistently grown its capital base, exemplified by the closing of its fifth fund, Fund V, at $700 million in 2022, following a $400 million Fund IV in 2020. These significant fund sizes underscore their robust financial backing and long-term investment horizon.

Dawn Capital's investment philosophy extends beyond mere capital deployment; they aim to be true partners to founders, leveraging their extensive network and operational experience to accelerate growth. Their portfolio boasts a number of successful companies that have gone on to achieve significant scale and exits, solidifying Dawn Capital's reputation as a value-add investor in the European tech ecosystem. By concentrating on specific, high-growth sectors, Dawn Capital has established itself as a go-to investor for B2B software and FinTech entrepreneurs seeking not only funding but also strategic partnership to navigate the complexities of scaling a global enterprise.

Investor Profile

Dawn Capital has backed more than 131 startups, with 4 new investments in the last 12 months alone. The firm has led 58 rounds, about 44% of its total and boasts 21 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Series B, Series C rounds (top funding stages).
  • Majority of deals are located in United Kingdom, United States, Denmark.
  • Strong thematic focus on Software, SaaS, Analytics.
  • Led 4 rounds in the past year.
  • Typical check size: $5M – $25M.

Stage Focus

  • Series A (28%)
  • Series B (27%)
  • Series C (13%)
  • Series D (8%)
  • Seed (7%)
  • Series Unknown (6%)
  • Series E (5%)
  • Series G (2%)
  • Series F (2%)
  • Angel (1%)

Country Focus

  • United Kingdom (32%)
  • United States (23%)
  • Denmark (8%)
  • Belgium (8%)
  • France (5%)
  • Israel (5%)
  • Sweden (5%)
  • Germany (4%)
  • Norway (3%)
  • Australia (2%)

Industry Focus

  • Software
  • Saas
  • Analytics
  • Financial Services
  • Information Technology
  • Fintech
  • Artificial Intelligence (Ai)
  • Enterprise Software
  • Internet
  • E-commerce
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Dawn Capital frequently co-invest with?

Goldman Sachs
North America, New York, United States, New York
Co-Investments: 7
Creandum
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 6
DN Capital
North America, California, United States, Menlo Park
Co-Investments: 5
ICONIQ Growth
North America, California, United States, San Francisco
Co-Investments: 8
Index Ventures
North America, California, United States, San Francisco
Co-Investments: 11
Insight Partners
North America, New York, United States, New York
Co-Investments: 16
Battery Ventures
North America, Massachusetts, United States, Boston
Co-Investments: 17
Heartcore Capital
Europe, Hovedstaden, Denmark, Copenhagen
Co-Investments: 6
Accel
North America, California, United States, Palo Alto
Co-Investments: 7
Seed Capital
Europe, Hovedstaden, Denmark, Copenhagen
Co-Investments: 5

Which angels does Dawn Capital often collaborate with?

Shared Deals: 1
CC
North America, New York, United States, New York
Shared Deals: 1
EK
North America, California, United States, San Francisco
Shared Deals: 1
Jerry Yang
Asia, Tokyo, Japan, Tokyo
Shared Deals: 1
BD
North America, Florida, United States, Miami
Shared Deals: 1
OP
North America, New York, United States, New York
Shared Deals: 2
DB
North America, Massachusetts, United States, Boston
Shared Deals: 1
Daniel Dines
North America, Delaware, United States, Dover
Shared Deals: 1
AS
North America, California, United States, San Francisco
Shared Deals: 1
DH
Europe, Gullbringusysla, Iceland, Reykjavík
Shared Deals: 1

What are some of recent deals done by Dawn Capital?

Inforcer

London, England, United Kingdom

Inforcer offers multi-tenant policy management with Microsoft 365, Azure, MEM, Intune, and Defender.

Cloud ManagementInformation TechnologySoftware
Series BJul 22, 2025
Amount Raised: $35,000,000
deepdots

Copenhagen, Hovedstaden, Denmark

deepdots is an AI business creating a platform that compiles user reviews into one location and analyzes everything automatically.

AnalyticsArtificial Intelligence (AI)Internet
SeedJun 2, 2025
Amount Raised: $6,259,133
Doubleword

London, England, United Kingdom

Doubleword is an optimization and compression platform that allows customers to achieve best-in-class model throughput, and accuracy.

Information TechnologyInternet
Series AMay 8, 2025
Amount Raised: $12,000,000
BlackWall

Tallinn, Harjumaa, Estonia

Blackwall is a cybersecurity company offering bot mitigation and web security solutions for hosting and managed services.

Artificial Intelligence (AI)Cyber SecurityNetwork SecuritySoftware
Series BMar 13, 2025
Amount Raised: $48,961,047
Kraaft

Paris, Ile-de-France, France

Kraaft.co is an instant messenger app dedicated to site monitoring for VRD public works trades: roads and various networks.

AppsMessagingMobile AppsSoftware
Series AJan 21, 2025
Amount Raised: $13,493,358
Omi

Paris, Ile-de-France, France

Omi is a 3D application that offers e-commerce and social media solutions.

AppsInformation TechnologyInternetPhoto Editing
Series AJun 16, 2024
Amount Raised: $13,913,416
Cover Genius

Sydney, New South Wales, Australia

Cover Genius provides an insurance distribution platform designed to protect the customers of e-commerce companies.

Financial ServicesFinTechInsuranceInsurTech
Series EMay 15, 2024
Amount Raised: $80,000,000
Flatpay

Herlev, Hovedstaden, Denmark

Flatpay is a fintech company that offers Point of Service (POS) and payments processing solutions for small and medium-sized merchants.

Credit CardsInformation TechnologyPaymentsSoftware Engineering
Series BApr 17, 2024
Amount Raised: $48,011,113
ONUM

Madrid, Madrid, Spain

Gain control of your data with real-time observations, filtering, enrichment, and orchestration.

Cloud ComputingData ManagementInformation TechnologyInternetSoftware
Series AApr 10, 2024
Amount Raised: $27,679,914
Qogita

London, England, United Kingdom

Wholesale B2B platform aiming to drastically increase market efficiency and supply chain margins.

B2BE-CommerceWholesale
Series BDec 14, 2023
Amount Raised: $88,120,580