Lakestar II announces €350 million fund
Zurich-based Lakestar founder and chairman Klaus Hommels reports, that the company “received interest in Lakestar II from many prominent investors – in fact, the fund was significantly oversubscribed. However, €350 million is the right size to give our portfolio companies the appropriate level of personal attention and support from our partners, and to help these businesses grow.” Hommels is known for its investment Facebook, Skype, Airbnb, Xing and and Lakestar I has already invested in companies such as Berlin-based GoEuro or Switzerland-based Teralytics. The Guernsey-based VC will use the fresh money to invest in European as well as in US startups.
Lavaboom is fiing for bankruptcy
Cologne-based secure email service Lavaboom has announced it will shut down on August 27, 2015. The startup is now filing for bankruptcy. It was building a zero access secure email service that focused on simplifying PGP encryption security to target a more mainstream user-base.
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