VC firm behind Facebook and Spotify launches €350m fund

Lakestar II fund will back fast-growth-potential businesses in multiple sectors across Europe and America

Lakestar, the European venture capital firm which has invested in Facebook, Spotify and Skype, has launched a €350m fund to back businesses with the potential to become the next big “major players”.

The Lakestar II fund will concentrate on companies across Europe and America, and plans to target multiple sectors as it wants to “build disruptive businesses across different major markets”.

With offices in London, Berlin, New York and Zurich, Lakestar tends to make early and growth-stage investments in technology companies with the ability to achieve global scale. Recent investments include AngelList and Makers Studio.

The fund is said to be the largest raised by the company to date and, alongside finance, will provide entrepreneurs with “personal attention and support”.

Lakestar founder and CEO, Klaus Hommels, commented:

“We were very pleased to have received interest in Lakestar II from many prominent investors – in fact, the fund was significantly oversubscribed. €350m is the right size to give our portfolio companies the appropriate level of personal attention and support from our partners, and to help these businesses grow.

“To date we have invested in some of the world’s biggest start-ups. We plan to continue to do this.”

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