European pre-seed and seed-stage VC Seedcamp has reached £78M in the first and final close of its fifth fund, ‘Seedcamp V’, its largest to date.
The round was backed by investors including British Patient Capital, Legal & General, TIFF, LGT, Vintage IP, Isomer Capital, OMERS. VC backers include Index, Sequoia, Underscore VC, Northzone, Atomico and Draper Esprit. Angel backers include Taavet Hinrikus (TransferWise), Daniel Dines (UiPath), David Helgason (Nordic Makers/Unity) and Shakil Khan (Spotify).
The new fund comes three years on from the close of Fund IV, at £60M, and this new fund increases the amount of capital it will invest in pre-seed and seed-stage companies, as well as reserving capital for follow-on rounds up to Series B.
Seedcamp backed Hopin, the virtual conferences platform which made hay during the pandemic and recently raised $125m giving it a $2bn valuation.