Breakaway Partners, early-stage investment company with presence in Talinn Estonia, Amsterdam Netherlands and San Diego United States , announces the launch of Cross Ocean Venture Fund I- to invest in European companies.
Led by a team of former healthcare and technology executives and experienced investors, the fund will concentrate on funding pre-Series A deals focused on B2B SaaS , technology and digital health and will help them find ways to expand and scale within the U.S. Market.
Zeynep Ilgaz, Partner at Breakaway Partners, said that the fund plans to invest in four to six firms annually. “We can accelerate the international growth of our portfolio companies and transform them into multinational champions in health-and tech.” Ilgaz added. “Building a startup is a very scalable craft, and it is helpful to have people you can call who have been in your shoes, who have built things, hired people early on, made their first sale, try to figure out what the next round is like and so forth.” She continued.
While Europe still lacks a tech behemoth like Apple or Amazon, there are growing numbers of tech companies’ worth tens and even hundreds of billions of dollars, and some believe it’s only a matter of time before Europe creates a tech firm as large as its counterparts in the U.S. and Asia.
Based on Pitchbook data, there were 1,434 European venture capital deals with US investors in 2021, up from 359 in 2011. In 2021, the deals involving US investors were worth 50.8 billion euros, compared to 2.7 billion euros in 2018.
“As the critical challenge for these companies is to quickly penetrate the US market, our network, our and commercial skills, and our transatlantic positioning naturally make us the ideal partner,” Serhat Pala – Breakaway Partners co-founder said.
Breakaway Partners also added a key partner Milan Saes in Amsterdam to work on the ground with assisting deal flows coming from Europe.
Breakaway Partners is a founder focused venture capital firm that funds and mentors early stage and start-up companies that have created products or services that are disruptive in their industry. Our goal is to help our portfolio companies get their ideas to market. We devote our time, expertise, connections, and capital to help companies successfully grow. We have a focus on investing in underrepresented Companies in the following industries: Health and Wellness, SaaS, digital identity and fintech.
Cross Ocean Fund I seed fund that invests in early-stage high growth companies in the areas of technology and digital health located in Europe that will expand to the US. Our investment strategy is spearheaded by a deep expertise in identifying opportunities from inception and growing them into global industry leaders. Through our theme-driven focus and strong network of strategic partners, we seek to stay ahead of the latest market trends and address the most relevant market needs.