Forestay, Europe's Newest $220M Growth-Stage VC Fund, to Focus on AI

Forestay, a Geneva-based venture capital firm, has closed its second fund, Forestay Capital II, at a hard cap of $220 million. The firm, which has been leading rounds in enterprise startups over the past couple of years, has invested in companies such as Scandit, K2View, Nexthink, and Wasabi, with three of these companies reaching unicorn status and two being acquired.

The Forestay II fund will invest across Europe and Israel, with a focus on leading growth rounds of $10M-$15M at the inflection point of a company. The firm's founder, Frederic Wohlwend, stated that Forestay will be "extremely focused" in its investment strategy, only investing in enterprise AI and SaaS companies, and mainly playing in Series B rounds.

Wohlwend, who previously served as the Global Chief Digital Officer of Merck KGaA and Serono, believes that his experience in the biopharma clinical space has given him a deep understanding of the enterprise value chain, from early research to distribution. This expertise will be leveraged to identify and support promising enterprise AI and SaaS startups.

The fund's investment strategy is well-positioned to capitalize on the growing demand for SaaS and enterprise solutions in Europe, where the market is fragmented by geography and language. The emergence of Forestay as a growth-stage VC fund focused on AI is a positive development for the European startup ecosystem, providing more options for growth capital.

AndroGuider Team

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