London is about to see a major investment in fashion and luxury tech

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Farfetch

Court has previously invested in luxury clothing site Farfetch.

Former Advent Ventures partner Frederic Court has just launched a new venture capital firm in London called Felix Capital, which will help fund European digital fashion brands and luxury tech startups.

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Court launched the $120 million fund on Wednesday, telling the Financial Times that he intends it to become the "venture fund for the creative class". Court has previously invested in several fashion and digital media startups, such as luxury clothing site Farfetch and French video-sharing platform Dailymotion.

Another Advent alumni Les Gabb will also join the VC firm, as will Antoine Nussenbaum from Atlas Global and ABM Amro.

Felix Capital raised the $120 million from a number of backers over six months, the Wall Street Journal reported, including the European Investment Fund, and Dutch company Unilever. Some US institutions also took part, but Court has yet to name them.

The fund also has a long list of "venture advisors", who will advise the firm on its portfolio as well as providing their financial backing. The list includes Facebook executives David Marcus and Julien Codorniou.

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Investments will range from $100,000 to $10 million, but a typical investment size will be around $3 million to $5 million.

The fund, which is already oversubscribed, expects to complete about 15 deals in the next few years, Court told the FT.

This is the seventh new VC firm to launch in London since the beginning of 2014.

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