London-based accelerator programme Seedcamp has announced a $30m fund aimed to scale seed investment across Europe.
It is the company’s third fund and is four times larger than either of the previous two.
Reshma Sohoni, cofounder and partner at Seedcamp hopes the fund will set a new model for acceleration in the UK, Europe and globally.
Tech City is a beacon for talent and capital.
With Seedcamp in the heart of Campus and Tech City, we will provide seamless support for our founders into London, Europe, Russia, China and critically the US to help them be world dominating.
Speaking to Tech City News, Sohoni explained that starting up is no longer the main problem faced by startups. For many, the biggest challenge is scaling up the business.
Seedcamp believes that providing the first $75k investment and three-month programme is no longer sufficient. Breakout success is about scale and that’s what this fund sets out to achieve.
Fintech, Internet of Things, and marketplace businesses are likely to be funded by Seedcamp’s most recent venture says Sohoni.
This reiterated the thoughts of Index Ventures in July when the firm announced their newest $550m fund would be investing heavily in fintech and marketplaces. (Index have also contributed to the Seedcamp fund.)
Through this fund, Seedcamp hopes to “redefine what it means to accelerate and scale an early stage company”.