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Read previewVenture capital firm Ventech has sold its stake in digital music company Believe, saying the company's lack of liquidity has led to it being "chronically undervalued" on the Paris Stock Exchange. "It wasn't really possible to use the Believe stock to accelerate its build-up," he added. Related stories"The management wanted to size the company, but the stock price and liquidity wasn't allowing that," he said. Ventech has raised an initial closing for its sixth fund, targeted at around €225 million ($241 million). Ventech has made initial deals from its sixth fund, backing French startup Firecell and German real-estate management company Einwert.
Persons: , Ventech, Jean Bourcereau, Thomas Bravo, Bourcereau Organizations: Service, Paris Stock Exchange, Business, London Stock Exchange Locations: Ventech, , Europe, Stockholm
His company Reynen Court is now looking to raise $5 million using a provision of the JOBS Act. More recently, Klein, who lives in Amsterdam, has been growing Reynen Court. The company launched in 2018 with financial backing from a consortium of large law firms, including Latham & Watkins and Clifford Chance. Klein said Reynen Court really took off once he was able to persuade 20 of the world's largest law firms to begin using the platform. If the offering succeeds, Reynen Court expects to go forward with a series B fundraising next year, Klein said.
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