London-based Balderton Capital has announced a new $400 million fund to fuel European startups. The firm’s seventh early-stage fund since its start in 2000, the money will flow to Series A investments in companies that display pioneering technology and a strong brand momentum.
“We know from our firm’s 20 years of European investment experience that Series A is a critical point in a startup’s journey — it’s a magical moment when they are reaching product-market fit, are poised to scale and have to make decisions that can affect their growth trajectory for years to come,” said Bernard Liautaud, managing partner at Balderton Capital.
The new fund will be managed by a 15-person investment team, working in unison across Europe. Branching out from its HQ, the firm now has permanent staff in Paris and Berlin to stay closer to those tech ecosystems and support portfolio companies on the ground.
The firm has portfolio companies founded in 15 European countries, including Aircall (Paris), Depop (Milan), Infarm (Berlin), Peakon (Copenhagen), Revolut (London), The Hut Group (Manchester), Vestiaire Collective (Paris), and Voi (Stockholm). The firm typically looks for leading-edge technologies, such as biotech startup Healx, which uses AI to accelerate research on rare diseases and just recently raised a $56 million Series B.
Overall, Balderton’s portfolio has raised over $2 billion in follow-on funding; the companies operate in over 50 countries around the world. The firm plans to continue supporting homegrown talent to dominate global markets.
Liautaud commented: “We believe Europe has the potential to build the next generation of technology giants, and we are focused on helping brilliant founders fulfil that ambition. We are seeing more and more exceptional founders raising Series A in Europe. With today’s new fund we want to build on that momentum.”