Balderton raises $600 million, its largest-ever fund for early-stage startups

dan@tech.eu

London’s omnipresent Balderton Capital has announced its second fund of this year, a $600 million behemoth that is aimed at backing early-stage companies. The fund is sector agnostic, and alongside the cash, portfolio companies are supported by Balderton’s marketing, finance, and legal services, as well as the freshly expanded team, including recently appointed Executive in Residence, Silicon Valley vet Dave Kellogg.

Managing Partner Bernard Liautaud comments, “Balderton Capital is a very different firm than it was 12 months ago. We have not only launched two new funds, but have grown and strengthened our team. We have entered a new era in which we will be able to operate at a different pace and with a broader view of when we can support founders. Our transition from Europe’s leading Series A investor to a multi-stage fund gives us more firepower and flexibility and helps us to uncover more hidden gems among Europe’s startups.”

Founded at the turn of the millennium, Balderton has since made close to 300 investments, counts active investments in more than 100 companies, and has raised just shy of $2 billion since 2018.

As a testament to their ability to pick the winning racehorse(s), this year alone, 13 of Balderton’s portfolio companies, where they entered in Seed or Series A rounds, have achieved unicorn status. And let’s not forget about the Darktrace, Flywire, SOPHiA Genetics, and Truecaller IPOs, along with 10 exits including the Nutmeg acquisition by JPMorgan Chase, and Depop going to Etsy.

“We pull out all the stops to help our founders be successful operationally, and by investing at both early-stage and further down the line, we are also able to offer the long-term partnership and capital they need to help them achieve their ambitions,” added General Partner Rana Yared. “We are delighted to be able to support a new generation of entrepreneurs through this fund.”

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