Speedinvest CEO and managing partner Oliver Holle. Image: Klaus Vyhnalek
Most of the new funding will go to pre-seed and seed-stage companies, while €200m is reserved for follow-on co-investments.
Speedinvest has raised €500m in new capital for backing early-stage European tech start-ups.
Around €300m will be invested into tech start-ups that are at pre-seed and seed-stage through its fourth flagship fund, called Speedinvest 4.
The remaining €200m is being reserved for follow-on co-investments in companies within the VC’s portfolio.
Speedinvest said all the institutional investors from its previous €190m fund have returned for the latest flagship fund.
Major investors include New Enterprise Associates, the European Investment Fund and Bpifrance, alongside government funds, banks, insurance companies, pension funds and large family offices.
Speedinvest said 90pc of the fund has already been committed by its investors. Some founders from the VC’s portfolio have also invested, with backers from Bitpanda, GoStudent, Billie, Planetly, Twaice and Yokoy.
First launched as a €10m fund in 2011, Speedinvest has grown to include more than 40 investors across Europe, with offices in Berlin, London, Munich, Paris and Vienna.
The VC now has six unicorns in its portfolio, including insurtech start-up Wefox, e-scooter and e-bike player Tier Mobility and Ireland’s Wayflyer.
Speedinvest said it has a sector-focused strategy and plans to invest in tech start-ups across deep tech, fintech, health, industrial tech, SaaS and marketplaces and consumer sectors.
“This new capital proves there is still room to innovate in European VC,” said Speedinvest CEO and managing partner Oliver Holle.
“As more and more capital and talent floods the ecosystem, further professionalisation of our industry is required.”
Alongside the fresh funding, Speedinvest said it recently closed its €80m Climate & Industry Opportunity Fund. This fund will invest in new climate tech start-ups that address sustainability challenges in the industrial sector.
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