VC firm Atomico has announced the close of its latest fund at $765 million.
Its fourth fund, dubbed Atomico IV, will invest in European startups from Series A on that have global potential.
The fund, and its "value creation" model, is bolstered by an investment team of former executives from Google, Facebook, Uber, and Spotify and others to assist in areas like international market-entry and partnerships, user growth, product, hiring and retaining talent, and marketing.
The closing of the fund is a vote of confidence in European tech, according to the firm, where there is still a relative funding gap, especially when looking beyond seed and Series A rounds.
“We’ve advocated the strength and depth of European tech for over ten years and Europe is now producing some of the greatest technology companies in the world,” said Niklas Zennström, CEO of Atomico. “With a deep talent pool of engineers and tech hubs springing up from Lisbon to Tallinn, there’s never been a better time to be a founder in Europe."
“We invest everything we have, not just capital, in the best European founders,” added Mattias Ljungman, partner. Atomico recently copublished a reportwith Slush into the European tech ecosystem that found the industry in Europe is poised for more growth in the coming years.