Forestay Launches $220M Growth-Stage VC Fund Focused on AI

• Forestay closed its second fund, Forestay Capital II, at $220 million.
• Focuses on leading growth rounds of $10 million to $15 million across Europe and Israel.
• Targets enterprise AI and SaaS, avoiding hardware investments.
• Primarily invests in Series B, but can do A to C rounds.
• Invested in 13 companies, including K2view, Nexthink, Scandit, and Wasabi.
• Three companies reached unicorn status; two were acquired.
• Backed Neural Concept, raising $27 million in Series B for AI-driven manufacturing design.
• Led Stratio’s $12 million Series A for predictive maintenance technology.
• Led by Frederic Wohlwend, former Global Chief Digital Officer of Merck KGaA and Serono.
• Focuses on enterprise and enterprise AI due to extensive industry experience.
• Backed by Anaïs Ventures, associated with the Firmenich family’s perfume empire.
• Strategic alignment with the vision of the Firmenich family.

Source: TechCrunch