TravelTech.vc has launched its second venture capital fund aimed at investing in the next leaders of travel technology in Europe.
The team behind the Travel Tech 2 (TT2) investment platform includes travel veterans Alex Gisbert, Javier González-Soria y Moreno de la Santa, Toni Raurich-Marcet, Leonardo Saroni and Jorge Schoenenberger, who all have experience in leading online travel brands such as Booking.com, Expedia, Google and Meta.
They believe that the next 12 to 18 months are a good time to invest in Europe-based travel technology startups. The company is prioritizing growth stage companies.
TravelTech.vc has begun raising €50 million, which is the target for the fund, and it plans to invest in 10 companies with average recurring revenue of at least €1 million.
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“The focus of the fund is to put the expertise and network of its five general partners to support and drive entrepreneurs and their businesses who have the potential and solid fundamentals in their competitive strategy, in their technology, in their talent and in their culture,” said the team.
TT2 will also draw on the experience of an advisory board made up of more than 80 travel and technology companies and investors, including Amadeus, Barcelo Hoteles, BCD Travel and HBX Group, formerly Hotelbeds. The board will advise the startups and investees and can also become investors.
TT2 is focused on three areas:
Client focused tech - businesses that enable a single customer view, empower connected travelers and improve the customer experience.
Immature technologies - businesses that are focused on the new challenges and demands of the modern consumer such as omnimobility, managing risk and pricing with data, and producing dynamic experiences for travelers in destination.
Efficiency gains - B2B solutions to enable modern travel as volume and demand for travel continues to grow at speed. For example, scaling vacation rental businesses, managing consistent travel disruption efficiently, solving for legacy technology and optimizing operational delivery in hotels and travel businesses.
TT1, the predecessor to the current fund, invested in seed rounds for companies including Troop Travel and Operto.
TravelTech.vc is not the only investment company to put a spotlight on Europe. Roch Ventures launched its fund of more than €100 million in 2022 and has since announced investments in WeSki, Apartool and Raus.