Stockholm-based Creandum, a European early-stage enterprise capital agency, on Monday introduced the shut of the Creandum VII fund at €500M.
The Swedish VC has secured backing from main world traders, together with college endowments, pension funds, and charitable foundations.
The participation of US traders, with half of the capital raised for Creandum VII coming from the US, signifies a renewed urge for food for publicity to European tech, says the VC.
The VC will use the funds to again European startups in Seed and Collection A investments.
Creandum says it’s nonetheless hopeful about Europe’s future. The earlier quarter noticed rises in funding and valuations, primarily resulting from developments in AI and SaaS.
Paris is turning into a serious participant in AI on the worldwide stage, and the Swedish VC is keen about backing startups like H Firm, which was based by a number of the world’s prime AI consultants to cleared the path in growing Synthetic Common Intelligence.
“Europe has all of the elements to provide the category-defining corporations of the longer term and we will’t wait to assist a brand new technology of founders on their paths to get there,” says the corporate.
Creandum: What do you might want to know
Based in 2003, the corporate has backed Europe’s most bold tech corporations from seed to exit throughout industries.
Up to now, the corporate has invested in additional than 120 corporations in 4 of essentially the most vibrant startup ecosystems globally: Stockholm, London, Berlin, and San Francisco.
A few of Europe’s most profitable tech corporations embody Spotify, iZettle, Depop, Klarna, Bolt, KRY, Epidemic Sound, and Small Big Video games.
Every Creandum fund over the past fifteen years now holds valuations between 6x and 13x, says the corporate.
