ICOs and European Start-ups Targeted By Seedcamp £41m Fundbr>
Pan-European startup investor Seedcamp has raised £41 million pounds ($54.6M USD) for its fourth fund. The new ventures will seek to invest in 100 new European startups, including cryptocurrency firms and initial coin offerings (ICO).
Launched in 2007 by a group of 30 European investors, Seedcamp identifies and invests early in world-class founders attacking large, global markets and solving real problems using technology. As of August, 2017, the European startup investor has a portfolio of over 250 companies who have gone on to raise over $1 billion in follow-on funding from leading investors across the globe.
Seedcamp’s £41m Fund IV, over 20 times larger than the investor’s first a decade earlier, is backed by 60 leading corporates, including Investec, Unilever Ventures, Thomas Cook Money, MassMutual Ventures, and British Business Investments, the commercial arm of the UK-government-backed British Business Bank.
Seedcamp said its focus is to get startups up to a Series A round. The investor will also reserve a significant amount of Seedcamp IV to be able to follow-on in rounds up to Series B. Recognzing the shifting world of early stage funding, Seedcamp will also invest in ICOs. The European investor believes this may be the first Limited Partners (LP)/General Partners fund to do this.
“With Seedcamp Fund IV – our biggest and boldest fund to date – we plan to invest in up to 100 startups from across Europe by leading pre-seed rounds, co-investing in syndicated seed rounds and supporting with all that falls in between,” said Seedcamp. “In tune with where the market is today and the increased level of investment needed to get a startup off the ground, we will be increasing the amount of capital we invest into startups across both pre-seed and seed stages. At pre-seed we will lead your round with £100k and can anchor up to £250k by bringing in our network of angels and high networths. At seed we will invest up to £400k in rounds of up to £2M where there’s already a lead investor on board.”