Seedcamp Fund IV at first close is over 2x bigger than the early-stage investor’s last and brings together big business, global venture capitalists and fund of funds to invest in 100 startups across Europe.
Seedcamp, the pan-European seed investor, today announced the first close of its fourth fund to invest in the next generation of European talent. The £41M seed fund at first close is already over 2x larger than Seedcamp’s last (€20M raised in 2014) and is backed by 60 leading corporates, venture capitalists and fund of funds from across the world including: Investec, Unilever Ventures, Thomas Cook Money, MassMutual Ventures, ADV, Draper Esprit, Index Ventures, Atomico, Idinvest Partners, Underscore Ventures, Speedinvest and British Business Investments, the commercial arm of the UK-government backed British Business Bank.
The launch of Seedcamp Fund IV also marks the 10-year anniversary of the leading European seed fund that will continue to invest early in world-class founders attacking large, global markets and solving real problems using technology. With Fund IV, Seedcamp plans to invest in up to 100 startups from across the continent and will maintain its sector-agnostic approach.
Alongside the evolution of the ecosystem, Seedcamp has innovated its own offering, which includes an increase in capital it will invest in startups at pre-seed and seed stages along with a significant amount of money held back for follow-on rounds up to Series B and approval to invest in crypto tokens. Founders will continue to benefit from Seedcamp’s platform that includes access to its global network, in-house team of operators and experts in residence and lifelong community of support.
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. 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+.”
Seedcamp Managing Partner, Carlos Espinal, 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.”
Commenting on British Business Investment’s commitment to the fund, Catherine Lewis La Torre, Chief Executive Officer at British Business Investments, said:“This initial commitment from our VC Catalyst Programme will help innovative, UK-based, high growth, technology companies get the long-term capital they need to grow and succeed. The British Business Bank is the UK’s largest British-based venture capital LP, with over £1bn invested across a range of different programmes, and at British Business Investments, the Bank’s commercial arm, we are always looking to invest in venture capital funds that enable such businesses to achieve their growth potential.”Back