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European VC that invested in Bolt, Spotify and Klarna just raised $500M to back startups of tomorrow

Creandum
Image credits: Creandum

Stockholm-based Creandum is a leading European early-stage venture capital firm. The investor has backed Europe’s most ambitious tech companies across a wide range of industries, investing from seed to exit rounds.

$500M fund

Today, Creandum has announced its sixth early-stage fund by raising $500 million. This is the sixth and largest fund raised by the investor. It will be used to invest in a new generation of European founders involved in building the companies of tomorrow.

Creandum will continue to back similarly talented product-led founders by identifying the next gen of European unicorns. In almost two decades, the company has learned a considerable amount about what early teams and founders look to develop products and services the world needs next.

With an industry-agnostic, product-obsessed approach, Creandum expects to double down on areas such as fintech and consumer apps. It plans to add in growth areas such as the creator economy, energy, web3, metaverse, and climate tech.

General Partner, Simon Schmincke described how the focus remains on early-stage European founders with global ambitions. He said, “The early stage is where we have always been most comfortable. We commit to founders before the world catches on, before everyone knows, before it’s obvious.”

Portfolio of unicorns!

It is an early investor in the most funded startups in Spain (Factorial) and Hungary. Also, it has supported European founders in the US with the most notable investment in Cornershop, which is now part of Uber.

Creandum has invested in many ambitious European tech companies. It is said that one in eight companies backed by the fund is a unicorn. Its previous investments include Spotify, iZettle, Klarna, Depop, Pleo, Trade Republic, Cornershop, neo4j, Kahoot!, Bolt and more.

Sabina Wizander, who rejoined Creandum as Partner last year, after leading commercials as CCO of Swedish Unicorn, Kry said, “In our experience, founders who focus on building the best products still prevail. Those who dare to think in generational opportunities and solutions will succeed by virtue of their burning passion for product excellence.”

Ambitious fund

Founded by Staffan Helgesson in 2003, each Creandum fund holds valuations between 6x and 13x. Creandum VI was oversubscribed and included participation from some of the most renowned global universities, endowments and foundations. These join several European unicorn founders and every single LP from every single Creandum fund.

Creandum operates close to the entrepreneurs in four of the most vibrant startup ecosystems globally: Stockholm, London, Berlin, and San Francisco. Recently, the investor opened a London office to invest in and support startups in the region.

Also, it continues its work in Diversity, Equity and Inclusion, thereby updating its Diversity Index examining proportions of diversity within the team and portfolio, and introducing a new DE&I policy with clear targets and commitments.

Backs companies of tomorrow

Creandum believes that any industry can be disrupted by the right entrepreneur. It believes that software will accelerate this growth and entrepreneurs can make the difference between failure and success with the right support. The fund believes that businesses will become more global and they can add more value to these companies. In general, Creandum backs the companies of tomorrow.

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