Financial services firms Legal & General and Rabobank were among the limited partners in a £78m ($103m) fifth fund closed by UK-headquartered venture capital firm Seedcamp yesterday.
British Patient Capital, Tiff Investment Management, LGT, Vintage IP, Isomer Capital, Index Ventures, Atomico, Underscore, Draper Esprit, Venrex, Sequoia Capital and Northzone were also among the 80 backers for the Seedcamp V fund.
Founded in 2007 as a Europe-focused seed fund, Seedcamp provides funding for startups along with access to a community of founders and investors that can offer feedback or advice.
Seedcamp’s portfolio companies have included UiPath, the automation software provider valued above $10bn as of July this year; cross-border financial transfer service TarnsferWise, valued at $5bn the same month; and virtual event platform Hopin, which raised $125m this week at a $2.15bn valuation.
The firm said in a blog post announcing the find: “Like many, we have had more than our fair share of issues when it comes to fundraising: economic recessions, Brexit, global pandemics – you name it, we have been through it.
“That is why Fund V, more than 50% oversubscribed and raised in the midst of covid-19, feels all the more special. It is the first time we feel we genuinely have not had to fight tooth and nail to explain to investors why, by now, we know what we are doing.”
