Sunstone Technology Ventures and Govtech Fund Announce Partnership

Leading European early-stage venture fund and first-ever government technology venture fund, collectively managing over EUR450M, to cooperate on deal sourcing, review and investment across Europe.

SAN FRANCISCO, Nov. 2, 2018 /PRNewswire/ -- Sunstone Technology Ventures [] and Govtech Fund [] today announced their inaugural partnership to cooperate on deal sourcing, review and investment across Europe. []

Sunstone Technology is one of Europe's most active early-stage venture capital firms. With offices in Copenhagen - Denmark, Paris - France and Berlin - Germany, Sunstone invests in seed and Series A rounds in technology companies all across Europe. Since inception in 2007, Sunstone has backed over 80 exceptional founding teams throughout the software stack and across industries. Investments include Prezi [] (US/Hungary), Neo4j [] (US/Sweden), Boozt [] (Sweden), GetYourGuide [] (Germany), Peakon (Denmark), Natural Cycles [] (Sweden), Seriously [] (US/Finland), Tink [] (Sweden), Lillydoo [] (Germany), Travelperk [] (Spain), Exporo [] (Germany), Aire [] (UK), Taster [] (France) and source{d} (Spain).

Since its launch in 2014, Govtech Fund has invested in 19 govtech startups out of its first two early-stage funds focused on a vast array of government operations including foster care, law enforcement, parking, municipal bond issuance, procurement, food safety, and pensions to name just a few. Govtech Fund's portfolio [] companies have raised more than 300 million dollars in total capital from leading venture capitalists First Round Capital, Lowercase Capital, General Catalyst, Bezos Expeditions, Khosla Ventures, Jim Breyer and more. Govtech Fund has built a true ecosystem, including 20,000+ government agency relationships, which has enabled several startups in its portfolio to attain double digit monthly growth.

"As we considered a multitude of venture investors, our goal was to partner with the market leader in the govtech market," noted Jimmy Fussing Nielsen, Managing Partner Sunstone Technology Ventures. "As the first-ever fund exclusively focused on government technology startups, since launching in 2014, Govtech Fund has built an incredible ecosystem of 19 leading govtech startups operating in over 20,000 government agencies."

"Governments around the world spend over 400 billion dollars a year on government technology solutions," said Ron Bouganim, Founder & Managing Partner of Govtech Fund. "There is an exciting new global wave of startups leveraging the cloud, software-as-a-service and mobile technologies coming to market, achieving venture backable growth rates, that are singularly focused on modernizing the operations of government. We're thrilled to be partnering with Sunstone in our European initiatives." [ ]

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