technology
Seedcamp raises $320 million for new fund and U.S. expansion
The early-stage investment firm raised its largest fund to date after 18 years focused on Europe. The capital will support both early-stage and growth investments while the firm expands its U.S. operations.
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Seedcamp announced it has raised $320 million for its latest fund, the largest in the firm's 18-year history. The amount doubles the $180 million raised for Fund VI in 2023. The firm is dividing the capital between two vehicles. $220 million will go to Seedcamp VII for early-stage investments, while $100 million will fund growth-stage follow-on investments through a new vehicle called Select.
U.S. expansion plans Seedcamp already maintains offices in New York City and Miami. The firm now plans to grow its U.S. team to connect European portfolio companies with American customers and investors. Reshma Sohoni, Seedcamp's co-founder and managing partner, said the firm will continue making initial investments in pre-product, pre-revenue, and pre-traction startups.
The firm will invest roughly $1 million as a first check in 100 to 120 companies and follow on in later rounds. The growth fund will invest $3 million to $5 million per check in Series B rounds and later. Sohoni said the firm will continue to avoid capital-intensive businesses such as mobility or marketplaces.
Limited partners Limited partners in the new fund include British Business Bank, HarborVest, Schroders, and Sofina. Eighty portfolio company founders have also committed as angel investors. Seedcamp has backed more than 550 companies, including 12 unicorns, and manages $1 billion in assets under management. Past investments include Fluidstack, Hopin, Pleo, Revolut, Synthesia, UiPath, and Wise.
