Pan European VCs venturing into the US may be a trend which will have a tough time catching on in the next few years. Within four months of opening a US office back in July, pan-euro VC DN Capital has seen one of its investments shutter.

Stock photography startup Digital Railroad reduced its staff and was “aggressively pursuing additional financing and/or a strategic partner” but last week closed all operations. DN Capital went into a joint $10m Series B round into the company in February last year.

DN Capital tends to look to invest €1-10 million per company from seed to growth equity/development capital rounds in software and digital media companies with investment activities are in the UK , France, Germany and Scandinavia. DN Capital has invested in Shazam and gaming company Digital Chocolate, among others.

However, Steve Schlenker, Managing Partner and co-founder of DN Capital, will no doubt stay over in the Palo Alto office, working with with DN Capital co-founder Nenad Marovac, who remains in London.