While VC investment remains significantly down from 2021, VC firm Creandum has announced the close of its Fund VII with €500 million. Fund VII was oversubscribed and backed by 30 of the world’s top LPs with more than half of the capital raised from US investors. Its investor base includes some of the largest US university endowments, pension funds, and foundations.
Funds utilisation
Creandum plans to back Europe’s next category-defining technology companies with the latest fund. Already, the VC firm has backed some of the popular European companies, including Spotify, Klarna, Depop, Neo4J, Pleo, Trade Republic, and Bolt.
With its Fund VII, the VC aims to make 35 to 40 seed and Series A investments over the next two to three years. It supports entrepreneurs building global, category-defining companies across a range of sectors. As per the company, one in six of Creandum Funds’ early-stage investments have turned into billion-dollar companies or more.
Investment portfolio
Creandum has offices in Stockholm, Berlin, London, and San Francisco. It focuses on AI, SaaS, and climate tech startups that have been witnessing an increase in both deal flow and valuations in the region. Some of its recent investments include the following:
- Codesphere, a German SaaS company, enables developers to program and scale complex applications directly in the cloud.
- Embat, a Madrid-based fintech that specialises in treasury management.
- Atla, a UK-based AI company, which helps build mobile-first applications faster.
- H, a new French AI company that recently emerged from stealth.
Besides these, the VC firm has also invested in a slew of companies, including Packfleet, Monta, Kosmik, and Better Stack.
Peter Specht, General Partner at Creandum said: “Our 7th fund represents the continuation of a 20-year strategy that has seen us back many of Europe’s most ambitious founders from the beginning of their journeys. Our funds have consistently delivered industry-leading returns. We compete locally for the best entrepreneurs across Europe, but we compete globally for the best investors in our funds. We were significantly oversubscribed and continue to be backed by some of the world’s best LPs who value our consistency and track record of identifying and supporting Europe’s top entrepreneurs.”
“It’s been a tough few years for venture but we continue to see a massive opportunity in Europe. There is a new generation of entrepreneurs emerging from Europe’s breakout companies such as Spotify and Revolut combined with an incredible concentration of scientific and engineering talent. There’s never been a better time to invest in European tech,” he added.
