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Seedcamp launches £145m early-stage startup fund

Seedcamp VI
Image credit: Seedcamp

Venture capital firm Seedcamp is launching a $180m (£144.5m) fund to back 100 seed-stage companies across Europe.

London-headquartered Seedcamp will provide investments of up to $1m (£802,000) for startups operating in areas including AI, cybersecurity, health tech, open source software and fintech.  Fund VI has the backing of institutions, angels and the Seedcamp Network.

The fund drew support from European tech founders including Pleo co-founder Jeppe Rindom, Hopin founder Johnny Boufarhat, Taavet Hinrikus co-founder of Wise, Gumtree co-founder Michael Pennington and Paul Forster Indeed co-founder.

“Seedcamp has been an incredible partner in building Wise from the earliest days to becoming a public company,” said Hinrikus, who also co-founded the venture fund Plural.

The VC firm’s newest fund is its biggest yet and nearly twice the amount of its predecessor Fund V, which was $95m (£76.3m).

Reshma Sohoni, founding partner at Seedcamp, said: “When we started out 15 years ago, we said Europe needed access to capital, basic knowledge on company building, and role models.”

The VC firm has 460 businesses in its portfolio. Nine of them have gone on to become unicorns. They are: Wise, Revolut, Pleo, Hopin, UiPath, Grover, Viz.ai, Wefox, and Sorare.

“Today, Europe’s needs have matured significantly, and it’s now all about speed, coverage, and quality, something we pride ourselves on at Seedcamp and that we know resonates with both our Founders and LPs,” added Sohoni.