Seedcamp toasts 10-year anniversary with first close of £41m seed fund

Seedcamp Fund IV will look to invest in 100 UK and European start-ups, with a focus on firms taking on global markets with technology-based solutions

Seedcamp, the European seed investor, has announced the first close of its latest £41m fund that will look to invest in 100 start-ups across the UK and Europe.

Launched in 2007 by Saul Klein and Reshma Sohoni, London-based Seedcamp invests in early-stage tech companies. To date it has invested in 250 businesses across 41 countries.

These include Startups 100-featured TransferWise, Property Partner, Much Better Adventures, and Hubble, and Young Gun-founded Thriva.

Twice the size of its last fund in 2014, the Seedcamp Fund IV coincides with the investor’s 10-year anniversary. It will continue its focus on investing in companies from any sector, that are targeting global markets and tackling challenges with technology.

The fund was backed by 60 corporates, venture capitalists and fund of funds including Investec, Unilever Ventures, Thomas Cook Money, MassMutual Ventures, ADV, Draper Esprit, Index Ventures, Atomico, Idinvest Partners, Underscore Ventures, Speedinvest and UK-government backed British Business Bank.

Seedcamp has now expanded its offering to increase the amount provided for start-ups at pre-seed and seed stage. It has also made more capital available for follow-on rounds up to Series B and approval to invest in crypto tokens.

The investor has decided it will no longer have application deadlines and will review all pre-seed submissions on a rolling basis. They will hear back within 14 days whether they have been considered for investment.

Sohoni, commented: “Seedcamp continues to grow as Europe’s seed start-ups enter an unprecedented era of growth themselves. We believe our fund is a perfect size to support the most ambitious of founders both initially and now for a longer part of their journey, helping build a new group of not just $1Bn+ businesses but the $10Bn+ and $100Bn+.”

Carlos Espinal, Seedcamp managing partner, added: “Seedcamp has been on an incredible journey over the past decade and our ambition, alongside that of European entrepreneurs, has grown exponentially over this time.

“While our investment approach and offering has evolved, the core of what Seedcamp stands for remains the same with our founders and our global community at the centre of everything we do.”