Mark Tluszcz of Mangrove Capital Partners is pictured during a press interview in December 2014. His VC firm said on 19 July 2017 that it had raised nearly €150m for its latest fund. Christophe Olinger

Mark Tluszcz of Mangrove Capital Partners is pictured during a press interview in December 2014. His VC firm said on 19 July 2017 that it had raised nearly €150m for its latest fund. Christophe Olinger

Mangrove Capital Partners will invest in early stage companies, its CEO, Mark Tluszcz, said in an interview with Bloomberg published on on 19 July.

The latest fund is the 17-year-old firm’s fifth. Mangrove raised the money in two months, he told Bloomberg. The vast majority came from previous investors, including around 20 pension funds and high net worth individuals.

The fund will invest in European and Israeli startups, Business Insider UK reported on Wednesday.

Tluszcz said in a statement published by TechCrunch:

“We like to take big bets very early and support our best portfolio companies through multiple rounds of financing to build material stakes. We prefer to invest in unproven or unusual technologies rather than chase the latest fad.”

Mangrove has backed a total of 130 startups, according to the press articles. Today it manages more than $1bn from its offices in Luxembourg, Berlin and Tel Aviv.

The VC firm made $200m from its $2m investment in Skype and $550m on its $8m stake in Wix.com.