Firstminute Capital has closed its new seed fund at $60 million to invest in early stage European tech companies.
The London-based firm will invest between $250,000 and $750,000 in startups and is currently hiring for its team. The fund was founded by executive chairman, Brent Hoberman and general partner and head of investments, Spencer Crawley.
“We were aiming to raise $60 million for our first fund, and to have achieved that with oversubscription before our final close is a strong signal for European technology,” said Hoberman.
Hoberman is the chairman and cofounder of Founders Factory and cofounder of lastminute.com. Crawley is formerly of AppDirect and Goldman Sachs.
Investors in the new fund include Atomico as well as cofounders of Skype, Supercell, King, Blablacar, Skyscanner, and several others with support from a number of family offices.
“Brent is a pioneer of technology entrepreneurship in Europe. For two decades, he has done more than most to find, support and encourage Europe’s best founders,” said Atomico CEO Niklas Zennström on the firm’s decision to invest in the fund.