Stockholm-based Creandum, a European early-stage venture capital firm, on Monday announced the close of the Creandum VII fund at €500M.
The Swedish VC has secured backing from leading global investors, including university endowments, pension funds, and charitable foundations.
The participation of US investors, with half of the capital raised for Creandum VII coming from the US, indicates a renewed appetite for exposure to European tech, says the VC.
The VC will use the funds to back European startups in Seed and Series A investments.
Creandum says it is still hopeful about Europe’s future. The previous quarter saw rises in funding and valuations, primarily due to advancements in AI and SaaS.
Paris is becoming a major player in AI on the global stage, and the Swedish VC is enthusiastic about backing startups like H Company, which was founded by some of the world’s top AI experts to lead the way in developing Artificial General Intelligence.
“Europe has all the ingredients to produce the category-defining companies of the future and we can’t wait to support a new generation of founders on their paths to get there,” says the company.
Creandum: What do you need to know
Founded in 2003, the company has backed Europe’s most ambitious tech companies from seed to exit across industries.
To date, the company has invested in more than 120 companies in four of the most vibrant startup ecosystems globally: Stockholm, London, Berlin, and San Francisco.
Some of Europe’s most successful tech companies include Spotify, iZettle, Depop, Klarna, Bolt, KRY, Epidemic Sound, and Small Giant Games.
Each Creandum fund over the last fifteen years now holds valuations between 6x and 13x, says the company.
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