Unbiased AI-powered news
A London-based seed fund turned a $23 million investment into $446 million through early stakes in European startups. The fund has now raised $320 million across new vehicles to continue backing founders in artificial intelligence, robotics, and deep technology.
news.sky.comA London-based seed fund reported that one of its earlier vehicles grew from $23 million to $446 million after early investments in European startups. The fund wrote checks into companies including automation software firm UiPath, Danish fintech Pleo, and digital bank Revolut.
Post by @Forbes on X
Its third fund posted a 50.3 percent net internal rate of return and has already returned 13.32 times the capital paid in.
The same fund has closed $220 million for a new seed vehicle and $100 million for a growth fund. It plans to write roughly 100 checks per fund, focusing on tier-one founders rather than broad market indexing. The fund’s fourth vehicle, raised in 2017, has returned 0.62 times capital to investors while valuing remaining holdings at 3.9 times cost.
Holdings include video platform Synthesia and data-center operator Fluidstack.
European venture funds raised in the same years as the third and fourth vehicles returned 1.88 times and 0.45 times capital on average, according to data platform TrackVC. The fund’s largest single outcome came from an approximately $400,000 investment in Revolut that produced more than a 1,000-fold return.
The fund’s managing partner said European governments and corporations should increase purchases from startups to support the sector.
Single source — no framing comparison available.
SemaforAuthorities have deployed officers and set up joint command centers ahead of protests organized after a civic group deadline for undocumented migrants to leave. Sixty-one anti-migrant demonstrations occurred between April and June.
winnipegfreepress.comAnti-immigration groups in South Africa have given undocumented immigrants until June 30 to leave the country or face a nationwide shutdown. The ultimatum follows weeks of violence targeting foreign-owned businesses and migrants.
New York PostA makeshift bomb detonated Monday evening in Monaco, injuring three people. Police are searching for a man seen on CCTV dropping a backpack at a residential building.