Advising Hiro Capital on €300m fund

We have advised leading European VC manager, Hiro Capital, on the launch of its second venture capital fund, Hiro Capital II SCSp, which will make early-stage investments in games and metaverse innovators based in the UK, Europe and the United States.

Aiming to raise €300m ($340m), Hiro Capital II is a sophisticated cross-border fund established in Luxembourg under the EU’s European Venture Capital Fund regime. It has a global investor base, including institutional and high-net-worth investors from the United States, EU, Switzerland, Japan, South Korea, UK and the Middle East.

Ravi Longia, partner and head of investment funds who led on the deal, said: “We are proud to have advised Hiro Capital on yet another successful fund raising. Without doubt, Hiro Capital II SCSp is not a typical fund, in that it will seek to build the companies in which it will invest.

“Gateley’s Investment Funds group is glad to have been one of the key facilitators of that story – it demonstrates our strength and expertise in the international fund formation and venture capital spaces.”

Hiro Capital’s founders include UK billionaire, Sir Ian Livingstone OBE, who co-founded Games Workshop (Warhammer) and Eidos Plc (Lara Croft: Tomb Raider). Hiro Capital’s team have co-founded and angled more than $9bn worth of games, esports and technology companies.

Ravi Longia was supported on the deal by Katie Griffis (funds associate; US qualified lawyer), Jamie Gillespie (funds associate), Jamie Crawford (partner, Head of Tax) and Michael Birchall (tax associate).