PYMNTS.com July 11, 2024
High interest rates usually spell trouble for venture capital (VC) firms. But with a hot hand to play like AI and cybersecurity, and a shrewd evaluation strategy for potential investments, VC companies can still find plenty of opportunity.
It’s a formula that Geneva-based Forestay Capital has worked effectively recently. On Monday (July 8), it announced the closure of its second fund at $220 million. Forestay II will focus on investments in the enterprise AI and Software-as-a-Service (SaaS) sectors, targeting early-growth companies typically making lead investments in the $10-15 million range.
The success of their first fund, Forestay I, gives the company a good track record: It invested in 13 companies, with three achieving unicorn status (valuation exceeding $1 billion) and...
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