Creandum closes $750m Fund VIII, its largest ever
Creandum closed its eighth fund at $750m, its largest to date, allocating half to seed and Series A deals and half to follow-on rounds.
European venture capital firm Creandum closed its eighth fund, Fund VIII, at $750 million, its largest ever, according to tech.eu. The fund is larger than its previous Fund VII, a €500 million vehicle.
The firm said half of the capital will go to new seed and Series A investments and the other half to follow-on rounds. It plans about 30 investments over two years.
Creandum raised the fund from US and European institutional investors, according to tech.eu. Its portfolio includes Lovable, Klarna, Black Forest Labs, Modal and Spotify.
Creandum is headquartered in Stockholm, with offices in London and Berlin, and has opened a new office in San Francisco, where it has had a presence since 2012. The firm said about half of the capital invested in European tech comes from the US, while the reverse flow remains limited.
What do these terms mean?
Venture capital: Money pooled in a fund and invested in high-growth startups in exchange for an ownership stake rather than a loan.
Follow-on round: An additional investment in a company the fund has already backed, to increase its stake or support later growth.
Seed stage: The earliest funding stage for startups, when the idea or product is still young and the risks are high.
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