European venture firm Atomico has raised its first dedicated growth fund as part of its largest fundraising effort to date.
The firm has focused on early-stage investing since its founding in 2006. “Since inception we’ve partnered with founders from series A, expanding to include growth investments in 2011,” the firm said in an announcement. “The new funds formalize this approach, with a specialized team for each stage of maturity.”
As the exit market has remained muted and start-ups are staying private longer, Atomico may see an opportunity to invest in promising companies at later stages or double down on its early-stage deals.
Its new growth fund, Atomico Growth VI, closed on $754 million to invest from Series B to pre-IPO.
The London-based firm also raised $485 million for a new early-stage vehicle, Atomico Venture VI, which will target Series A investments as well as occasional seed deals. Fund VI fell short of its $600 million target and is smaller than the firm’s two previous early-stage vehicles, according to fundraising data from affiliate title Private Equity International. Atomico V closed on $820 million in February 2020, beating its target of $750 million, while Atomico IV closed on $765 million in February 2017, exceeding its $750 million target, PEI reports.
Investors in Fund VI include Swedish pension AP Fonden 3, UK pension Brunel Pension, Japan Investment Corporation and Finland’s Mandatum Life Insurance Company, while LPs in the growth fund include AP Fonden 3, the UK’s Devon County Council Pension Fund, European Investment Fund, Japan Investment Corporation and Mandatum Life Insurance Company, according to PEI.
“European technology is coming of age. Meeting this opportunity requires ambition, hustle and commitment from founders, who need investors with the experience and perspective to see beyond market cycles,” firm founder and CEO Niklas Zennström said. “Our new funds bring them essential fire power to level up and achieve global scale from Europe.”
The funds have already made 21 deals, including investments in Cologne’s DeepL, Copenhagen’s Corti, Berlin’s Deeploi and Zurich’s Lakera.
Founded in 2006, Atomico has made more than 155 investments across 15 European countries. In addition to its headquarters, Atomico has offices in Paris, Berlin and Stockholm.
European venture firm Atomico has raised its first dedicated growth fund as part of its largest fundraising effort to date.
The firm has focused on early-stage investing since its founding in 2006. “Since inception we’ve partnered with founders from series A, expanding to include growth investments in 2011,” the firm said in an announcement. “The new funds formalize this approach, with a specialized team for each stage of maturity.”
As the exit market has remained muted and start-ups are staying private longer, Atomico may see an opportunity to invest in promising companies at later stages or double down on its early-stage deals.
Its new growth fund, Atomico Growth VI, closed on $754 million to invest from Series B to pre-IPO.
The London-based firm also raised $485 million for a new early-stage vehicle, Atomico Venture VI, which will target Series A investments as well as occasional seed deals. Fund VI fell short of its $600 million target and is smaller than the firm’s two previous early-stage vehicles, according to fundraising data from affiliate title Private Equity International. Atomico V closed on $820 million in February 2020, beating its target of $750 million, while Atomico IV closed on $765 million in February 2017, exceeding its $750 million target, PEI reports.
Investors in Fund VI include Swedish pension AP Fonden 3, UK pension Brunel Pension, Japan Investment Corporation and Finland’s Mandatum Life Insurance Company, while LPs in the growth fund include AP Fonden 3, the UK’s Devon County Council Pension Fund, European Investment Fund, Japan Investment Corporation and Mandatum Life Insurance Company, according to PEI.
“European technology is coming of age. Meeting this opportunity requires ambition, hustle and commitment from founders, who need investors with the experience and perspective to see beyond market cycles,” firm founder and CEO Niklas Zennström said. “Our new funds bring them essential fire power to level up and achieve global scale from Europe.”
The funds have already made 21 deals, including investments in Cologne’s DeepL, Copenhagen’s Corti, Berlin’s Deeploi and Zurich’s Lakera.
Founded in 2006, Atomico has made more than 155 investments across 15 European countries. In addition to its headquarters, Atomico has offices in Paris, Berlin and Stockholm.
