Summary
Source: Tech.eu Read the original article
What this means for you
The article reports a startup-financing development: Creandum said it closed a $750m fund, Fund VIII, up in size from its previous €500m ($560m) fund, and said the new fund will back founders at seed and Series A. It said half of the capital will go to new investments and the rest to follow-on rounds, and that Creandum has had a presence in San Francisco since 2012 and has now opened a new office in the city. For Chinese readers in the US, the article does not state any direct effect on visas, immigration, jobs, income, prices, education, safety, or family life. It does say Creandum staff in the US will work alongside Creandum staff in Stockholm, London and Berlin, and that roughly half of all capital invested in European tech came from the US over the last year, while very little US tech funding came from Europe.
European early-stage VC firm Creandum, which has backed the likes of Lovable, Klarna and Black Forest Labs, today said it had closed its largest ever fund, a $750m fund. The new $750m fund, Fund VIII, is up in size from Creandum’s previous fund, Fund VII, which was a €500m ($560m) fund.
The new fund will back founders at seed and Series A, with half of the capital going to new investments and the rest to follow-on rounds, the VC said.
Creandum said it has raised funding for the fund from ”multiple elite US and European institutional investors”.
Creandum has had a presence in San Francisco since 2012 and has now opened a new office in the city, it said.
It said Creandum staff in the US will work alongside Creandum staff in Stockholm, London and Berlin, giving founders a single partner across Europe and the US.
Creandum pointed out that capital flows between the US and European tech remain largely one-directional, with roughly half of all capital invested in European tech coming from the US over the last year, while very little US tech funding came from Europe.
It added: “As US venture firms increasingly compete for deals in Europe, Creandum is expanding its work in San Francisco, while continuing to back founders across Europe.”
Staffan Helgesson, founder & partner, said: “After nearly 25 years in venture, one belief has only grown stronger: it’s the founders you back that matter most. With Fund VIII, we remain focused on one simple thing - finding the boldest and most ambitious early-stage founders in Europe - and increasingly in the US - and being the first to back them. That core focus is what led us to incredible companies like Lovable, Spotify, Modal, Black Forest Labs, and Rillet, to name but a few.”
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Source: Tech.eu
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