Frontline Ventures, a venture capital firm situated in Dublin and London, has generated $200 million for two funds aimed at aiding B2B software enterprises eyeing the transatlantic market. The resources will be divided equally among Frontline Growth and Frontline Seed, with backing from EIF and ISIF as Limited Partners.
According to Frontline, their strategic location can prove beneficial to companies at the seed and growth stages that have international expansion plans, owing to the considerable investment and software spending across the US and Europe. Frontline Seed aims to assist high-potential entrepreneurs in their quest to tap into this vital transatlantic market, as stated by Will Prendergast, a partner at Frontline Seed.
Frontline Seed has notably supported the ascension of numerous businesses in its portfolio to Series A and branched out into the U.S. market. In last decade, more than 80 European start-ups have been supported by the seed fund, including industry players like Signal AI, Finbourne, and Insify among others.
Meanwhile, the growth fund targets North American businesses at the Series B and C stage, desiring to firm their footprints in Europe. In its five years of operation, it has funded over a dozen firms such as MosaicML and Lattice, under the leadership of Brennan O’Donnell and Stephen McIntyre.
Mr. O’Donnell emphasises on the potential of the European market, which, despite being overlooked by U.S entrepreneurs, contributes to over 30% of the global profits of top-tier B2B software firms at IPO. At Frontline, the objective is to serve as a conduit between the U.S. and European markets, aiding B2B software firms in becoming global frontrunners.