European Seed investor Seedcamp has raised £41m to continue supporting early-stage technology startups.
At first close, this fund – Seedcamp’s fourth – is already two times larger than its last investment vehicle, which closed at €20m in 2014.
Seedcamp’s fund is backed by 60 corporates, venture capitalists and fund of funds from across the world.
Investors include Investec, Unilever Ventures, Thomas Cook Money, MassMutual Ventures, ADV, Draper Esprit, Index Ventures, Atomico, Idinvest Partners, Underscore Ventures, Speedinvest and the UK-government backed British Business Bank.
Fund IV, as the investment vehicle is known, also marks the 10-year anniversary of Seedcamp’s launch.
Seedcamp co-founder and managing partner, Reshma Sohoni, commented: “Seedcamp continues to grow as Europe’s Seed startups enter an unprecedented era of growth themselves.
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“We believe our fund is a perfect size to support the most ambitious of founders both initially and now for a longer part of their journey, helping build a new group of not just $1Bn+ businesses but the $10Bn+ and $100Bn+.”
The fund will seek to invest in a maximum of 100 startups from across the whole of Europe and will follow a sector-agnostic approach.
Seedcamp will continue to back startups at pre-Seed and Seed stages but will also look to participate in follow-on rounds up to Series B.
Carlos Espinal, managing partner, added: “Seedcamp has been on an incredible journey over the past decade and our ambition, alongside that of European entrepreneurs, has grown exponentially over this time. While our investment approach and offering has evolved, the core of what Seedcamp stands for remains the same with our founders and our global community at the center of everything we do.
“With our new fund, we look forward to continuing to back the most ambitious, globally-minded talent and connecting the European ecosystem to help them achieve outsized outcomes,” he concluded.