Aviva Investors, a global asset management arm of Aviva plc, has announced a strategic €11.4 million investment into Lakestar’s Growth Fund II. This is it’s latest step towards broadening exposure to high-growth private markets and scaling innovation across Europe. The move demonstrates Aviva’s growing focus on venture and growth capital, particularly in tech-driven sectors poised for long-term disruption.
This is Aviva Investors’ third venture and growth capital commitment and comes shortly after the recent launch of the Aviva Investors Venture & Growth Capital LTAF (Long Term Asset Fund). The LTAF was designed to address the structural challenge of limited private market access for Defined Contribution (DC) pension schemes and wealth managers.
Targeting growth: A closer look at the investment
The investment will be deployed through Lakestar’s Growth Fund II, which backs growth-stage companies across deeptech, healthcare, fintech, and digitalisation. Lakestar’s focus is on identifying transformative companies that are transitioning from early-stage to commercial scale, businesses that require capital and strategic support to expand internationally and solidify category leadership.
Lakestar: A powerhouse in European venture capital
Lakestar was founded in 2012 by Klaus Hommels, a key figure in European tech investment and Chair of the NATO Innovation Fund. It has become one of Europe’s most prominent venture and growth investors. The firm has raised over €2 billion to date and has supported more than 210 companies.
With a hands-on investment approach, deep sector expertise, and global network, Lakestar is known for guiding companies through rapid scaling and navigating complex market dynamics. The Growth Fund II continues this legacy by focusing on companies that blend commercial success with strategic relevance to Europe’s innovation agenda.
Building the future: Investments in Europe and the UK
Lakestar’s portfolio showcases some of the most innovative and disruptive companies across Europe and the UK, reflecting its strategic focus on long-term, high-impact technologies. Here are a few standout names:
- Neko Health: A Swedish healthtech startup offering AI-powered full-body scanning for early disease detection.
- Isar Aerospace: A Munich-based space tech company developing low-cost, sustainable satellite launch solutions.
- Revolut: A UK-based fintech unicorn revolutionising banking and personal finance through a fully digital platform.
- Glovo: A Spanish on-demand delivery platform connecting users with restaurants, groceries, and courier services in minutes.
- GetYourGuide: A Berlin-based traveltech company offering curated experiences and tours in destinations worldwide.
- Eigen Technologies: A UK AI company using natural language processing to extract insights from complex documents.
- Sennder: A digital freight forwarder modernising logistics through data-driven trucking solutions across Europe.
These companies represent Lakestar’s commitment to supporting scaleups solving real-world problems in health, finance, logistics, and digital infrastructure, all areas where Europe has strong competitive advantages.
An alignment of vision and value
The commitment to Lakestar’s Growth Fund II signals a meaningful alignment between Aviva Investors’ long-term capital strategy and Europe’s growing tech ecosystem. With access to differentiated, high-impact investments in health, deep tech, and digital infrastructure, this partnership supports the next generation of tech leaders shaping the future of industries and economies.
As pension and wealth clients increasingly seek alternative assets with both growth potential and purpose, Aviva Investors is well-positioned to bridge the gap between institutional capital and Europe’s most forward-looking innovators.
Ben Luckett, Managing Director, Venture and Strategic Capital, at Aviva Investors, said: “Lakestar has a rich history and wealth of expertise, discovering and supporting pioneering companies which have grown to be at the forefront of their industries, including Spotify and Revolut. The European technology sector has such vast potential to nurture world-leading ideas from globally-important clusters which can drive future growth. We believe Lakestar’s can give us unrivalled access to these opportunities, supporting portfolio company growth and unlocking long-term investment returns for our clients.”
