VCIII

ISSUE – Nov. 27 | Balderton Capital closes new $375M fund to invest in Series A-stage European startups

More VC money sloshing around Europe: In what was probably one of the worst kept secrets in European VC, London-based Balderton Capital is announcing a new $375 million fund. I understand that it actually closed earlier this year, however, and I’m told has already been used to make ten investments.

In fact, although the firm now has a decent amount of new capital to deploy, this is really business as usual for Balderton. The new fund — the firm’s sixth — will target startups anywhere in Europe at mostly Series A stage, with the occasional seed deal or Series B investment, in addition to follow ons.

In terms of LPs, the VC isn’t disclosing any individual names, including whether or not any European Investment Fund (EIF) or taxpayer-funded British Business Bank money made it into the fund (Update: The EIF has confirmed to Business Insider it is a backer of Balderton’s new fund). It simply says that the latest fund has been raised from new and existing investors from Europe, the U.S. and Asia. The inclusion of a small number of Asia-based LPs differs from its previous fund, while the Europe and U.S. portion is split 60/40. [ Tech Crunch ]

ad ad