Most of the new funding will go to pre-seed and seed-stage companies, with €200 million set aside for subsequent co-investments.
SpeedInvest will raise another €500 million to invest in early-stage European tech startups.
Around €300 million will be invested in pre- and seed-stage technology startups through a fourth flagship fund called ‘SpeedInvest 4’.
The VC firm said the remaining €200 million is reserved for subsequent co-investments in companies within SpeedInvest’s portfolio.
SpeedInvest said all institutional investors in the previous €190m fund have returned to the newest flagship fund.
Principal investors in the newest fund include New Enterprise Associates, European Investment Fund, Bpifrance, sovereign wealth funds, banks, insurance companies, pension funds and large family offices.
The VC firm said 90% of the fund has already been committed by investors. Successful founders from SpeedInvest’s portfolio have also invested, including Bitpanda, GoStudent, Billie, Planetly, Twaice and Yokoy.
First launched in 2011 as a €10 million fund, SpeedInvest has grown to include over 40 investors across Europe with offices in Berlin, London, Munich, Paris and Vienna.
The venture capital firm’s portfolio also includes six unicorns, including insurtech startups Wefox, Tier Mobility and Ireland’s Wayflyer.
SpeedInvest said it has a sector-focused strategy and plans to invest in technology startups across deep tech, fintech, health, industrial tech, SaaS, marketplace and consumer sectors.
The VC firm’s CEO and managing partner, Oliver Holle, is pleased that “the founders really appreciate and benefit from” the company’s scalable investment platform.
“This new capital proves that European VC still has room to innovate.”
Alongside a new early-stage fund, SpeedInvest recently said it closed its €80 million Climate & Industry Opportunity Fund. The fund will invest in new climate tech startups addressing sustainability challenges in the industrial sector.
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