06 March 2020
US startup companies hoping to expand into Europe have just received a massive boost.
A European Venture Capital Firm by the name of ‘Frontline’ recently announced that it created a fund directed at business to business tech startups from the US.
Frontline has entitled its program “FrontlineX.” Frontline announced that “X” will utilize its $80 million fund to aid in the development of seed-stage startups as well their entry into the European market.
A single US-based startup could receive an investment of as much as $5 million if it’s endorsed by FrontlineX.
Stephen McIntyre, a partner of the firm who’s co-leading the new fund with Brennan O’Donnell shared that Frontline have “benchmarked the best of B2B software and seen that, by the time a company goes public, 30 percent of its revenue should be coming from Europe.”
“But even the biggest names in tech fail to get there because of avoidable mistakes when they land.”
FrontlineX will also take responsibility for helping portfolio companies implement tailored strategies for European expansion.