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Seedcamp converted a $23 million fund into $446 million through early investments including Revolut. The firm has now raised $320 million across new seed and growth vehicles.
ForbesA London-based seed fund reported that one of its earlier vehicles grew from $23 million to $446 million after backing companies such as Revolut, UiPath and Pleo. The fund posted a 50.3 percent net internal rate of return and has already distributed 13.32 times the capital it received from investors, according to performance figures released with the announcement.
The same firm said it has closed a $220 million seed fund and a $100 million growth fund to continue backing European startups. Its strategy calls for writing roughly 100 checks per fund, a higher volume than many peer seed investors.
Data compiled by TrackVC show that European funds raised in the same period have returned an average of 1.88 times capital to investors. The fund’s fourth vehicle, raised in 2017, has so far paid back 0.62 times capital while valuing remaining holdings at 3.9 times cost.
A partner at the firm stated that European governments and corporations should increase procurement from newer companies to support local startups.
upi.comAlan Greenspan, who led the Federal Reserve from 1987 to 2006, died Monday at his home. His wife Andrea Mitchell confirmed the death from complications of Parkinson’s disease.
The U.S. Treasury Department issued a general license allowing the production, delivery and sale of Iranian-origin crude oil, petrochemical products and petroleum products. The license remains valid through August 21.
nbcnews.comIran's Foreign Ministry stated that Tehran held 18-hour talks in Switzerland on Sunday but did not negotiate the nuclear file or accept new commitments. Multiple outlets reported the same position from the ministry spokesperson.