Creandum closes $300M fund for early-stage investments out of Europe

TechCrunch | 6/24/2019 | Staff
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As one European VC raises a fund to double down on bigger growth rounds in Europe, another has closed a fund to continue focusing on early-stage investments. Stocklhom-founded Creandum, an early backer of companies like Spotify and iZettle, has closed a fifth fund €265 million ($300 million). The plan is to use the money to continue investing in European startups and startups with European founders (Creandum also has offices in San Francisco and Berlin) with a focus on seed and Series A rounds.

European venture capital has closely mirrored the trajectory that the startup ecosystem has taken in the region.

Culture - Research - Fields - Universities - Shortage

A strong culture of research in technical fields in public universities has meant no shortage of interesting ideas and talent to pursue them. But it was not that long ago that opportunities to raise capital to see those threads spun into cloth — much less fully-fledged items of clothing — were not so easy to come by. Funding rounds were smaller, and generally harder to raise, and if startups wanted to scale, the most promising of them often decamped to the US to do it.

Fast forward to today, and times are very different. The bigger startups in the region are staying put and finding the financial support — and customers — they need to take their businesses to the next level here in Europe, helped by the push into technologies like cloud services. And on the early-stage side, we’ve seen both the emergence of a new wave of VC firms, and an expansion of those that have been around for a while, to help fuel the explosion of startups that have formed and developed in the region.

Creandum - Years - Category - Johan - Brenner

Creandum, now 15 years old, fits into the latter category. Johan Brenner, a general partner at the firm, said that this round was oversubscribed with a...
(Excerpt) Read more at: TechCrunch
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