London-based VC Seedcamp has launched another VC fund, Seedcamp Fund V which is, according to the firm, the biggest and most ambitious fund to date. This £78M (about €88M) fund will be utilized for pre-seed and seed-stage investments, as well as reserving capital for follow-on rounds up to Series B.
The new fund comes three years after the close of Fund IV, at £60M. Recently, Seedcamp backed Hopin, the virtual conferences platform which blew up during the pandemic and recently raised US$125M giving it a US$ 2B valuation.
According to the firm, when it participates in an active round led by another investor, it aims to participate in seed rounds that are on an average around £3M (about €3.4M) or less with an investment of up to £500K (nearly €564K). At a stretch, it may invest in a larger round but more like an exception.
The organisation usually leads a pre-seed round with an investment of around £200K (about €225K), typically in exchange for an ownership stake between 6% – 7%. These pre-seed rounds range in size from £400-750K (€451K-€846K), traditionally.
What Seedcamp has to say
“Like many, we’ve had more than our fair share of issues when it comes to fundraising: economic recessions, Brexit, global pandemics – you name it, we’ve been through it. That’s why Fund V, more than 50% oversubscribed and raised in the midst of COVID-19, feels all the more special. It’s the first time we feel we genuinely haven’t had to fight tooth and nail to explain to investors why, by now, we know what we’re doing,” according to a statement given by Seedcamp.
Founded in 2007, it is a European seed fund that recognises and invests early in world-class founders attacking large global markets. It was co-founded by Reshma Sohoni and Saul Klein, with headquarters in London, UK. The company has invested in more than 260 startups including the ones like fintech unicorn TransferWise along with some of Europe’s fastest-growing companies like Revolut, UiPath, and wefox. Seedcamp companies have raised over US$ 1B in further investment from leading investors.
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