TT2 is a €50M European Fund launched to identify and accompany travel tech companies
New European growth capital travel tech fund TT2 launches
Venture capitalist TRAVELTECH.VC, which has a presence in Amsterdam, Barcelona, Madrid, Milan and Palma, has announced its TravelTech 2 (TT2) fund.
This is the VC's second fund and is born as an investment platform for those whose ambition is to "identify and accompany highflyers who will be the next leaders in Europe of Travel tech in 2032".
It has five international general partners with executive experience in leading technology-based and strategic companies in travel, including Booking.com, Expedia, Google, Meta and Deloitte.
The leadership team of TT2 includes Alex Gisbert (ex-Expedia), Javier González-Soria Moreno de la Santa (ex-Google and Meta), Toni Raurich-Marcet (ex-Booking.com), Leonardo Saroni (ex-Booking.com) and Jorge Schoenenberger (ex-Deloitte), who all have experience as entrepreneurs, investors and venture capital managers.
Their combined industry experience equates to over 120 years.
TT2 will also rely on an Advisory Board made up of more than 80 of the largest travel and technology companies and entities in the world as well as a network of international investors and institutional investors, including Axis-FondICO Global and the Travel Tech 1 Venture Capital Company, which since 2017 has successfully invested in TravelTech startups in the seed phase, such as Troop Travel and Operto.
Companies in the travel tech space are "proof that Europe can be the engine of new business models and new ventures".
The year 2024, and in particular the next 12-15 months, are said to "point to an exceptional period to invest in travel", according to the venture capitalist.
"The focus of the fund is to put the expertise and network of its 5 managing 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 TT2 team.
"TT2's investment thesis will prioritize European based travel ventures beyond the seed capital stage, with unique potential value to be developed further, and that have a strong commitment to talent, technology and CSR values."
The fund's life cycle will be eight years and it has begun to reach its capital raise target of €50 million.