Vienna-HQ’d venture capital firm Speedinvest has today announced the final close of its latest fund at €350 million — €50 million above target.
The firm announced the first close of its fourth fund in December 2022 at €300 million, and in combination with an additional €250 million raised to support follow-on investments, despite challenging economic conditions, Speedinvest has amassed €600 million in total assets, now surpassing €1 billion in AUM.
“Now more than ever, Speedinvest remains committed to its sole mission: helping companies build their category-defining business in the early days – when it matters the most. This incremental capital gives us even more firepower to support our courageous, innovative entrepreneurs in their journey to global success as we stay consistent with our target portfolio size. ” - Oliver Holle, Speedinvest CEO and managing partner.
With 300+ investments on the books, Speedinvest says that it intends to remain true to its ethos and will continue to invest in deeptech, fintech, health and techbio, marketplaces and consumer, climate and industrial tech, and SaaS and infrastructure early-stage startups.
The firm has already made investments from the latest fund in fledgling companies including agriculture-focused fintech Finres, customer support SaaS platform Surfboard, healthtech startup Fertifa, battery recycling outfit Cylib, climatetech Neocarbon and traveltech Fairlyne. Worth noting — a majority of these companies have already raised successful follow-on rounds from top-level VCs.
Speedinvest reports several new LPs joining the final close including, Aviva, PwC Germany, Bitburger, ODDO BHF, and Abeille Assurances Ventures.
Existing Speedinvest supporter the European Investment Fund (EIF), and new investors, Generali, joined the first close alongside a host of usual suspects including government funds, banks, insurance companies, pension funds, and large family offices.
In the spirit of paying it forward, Speedinvest says that numerous portfolio company founders including Bitpanda, GoStudent, Billie, Planetly, TWAICE, and Yokoy have committed to the new vehicle.
“In times where access to capital in our industry has been the scarcest in the last ten or more years, reaching this milestone is an amazing testament to how investors share our vision of creating a pioneering, pan-European investment platform, which is both scalable and highly impactful for our portfolio companies, our LPs, and the wider European ecosystem.”
Lead image: The Speedinvest team. Photo: Uncredited.