Seedcamp raises $320M for its new fund to expand its US footprint

After 18 years of focusing connected Europe, early-stage capitalist Seedcamp said connected Monday that it had raised $320 cardinal for its latest money which volition spot it expanding its beingness successful the United States.

Fund VII is the concern firm’s largest truthful far, treble the $180 cardinal it had raised for Fund VI successful 2023. However, Seedcamp is splitting that magnitude to absorption much connected growth-stage investments: $220 cardinal is slated for Seedcamp VII, its conveyance for early-stage investments, portion the remaining $100 cardinal is being acceptable speech for growth-stage, follow-on investments via a caller money called Select.

Seedcamp already has offices successful New York City and Miami, but the steadfast is present mounting retired to turn the squad Stateside successful an effort to link much of its European portfolio to U.S. customers and investors, particularly with San Francisco and Silicon Valley regaining their presumption arsenic a halfway of gravity successful caller years.

“We request to plug founders to nodes that are connective,” Reshma Sohoni, Seedcamp’s co-founder and managing partner, told TechCrunch.

Sohoni said the steadfast volition proceed its thesis of being 1 of the archetypal investors successful upcoming startups, beryllium they pre-product, pre-revenue, oregon adjacent pre-traction. The steadfast is tapping its extended web of portfolio startups and LPs for dealflow.

That thesis has served Seedcamp well. The steadfast was 1 of the archetypal investors successful respective palmy tech companies, including Fluidstack, Hopin, Pleo, Revolut, Synthesia, UiPath, and Wise. It has 12 unicorns successful its portfolio of much than 550 companies, and $1 cardinal successful assets nether management.

Seedcamp VII is looking to put astir $1 cardinal arsenic a archetypal cheque successful astir 100 to 120 startups, and travel connected successful aboriginal rounds, per Sohoni. The maturation money volition put astir $3 cardinal to $5 cardinal per check, pursuing connected successful Series B rounds and later.

Sohoni said constricted partners successful Fund VII include British Business Bank, HarborVest, Schroders, and Sofina, arsenic good arsenic 80 of its portfolio institution founders who person pitched successful arsenic angel investors.

Seedcamp volition proceed to put crossed sectors, Sohoni said, though she did enactment the steadfast volition proceed to steer wide of capital-intensive businesses, similar mobility oregon marketplaces.

“We thin to debar capital-intensive startups due to the fact that backing moving superior isn’t a large exemplary connected time 1 […] We’re decidedly a commercial-driven investor,” said Sohoni.