Atomico, one of Europe’s largest venture capital firms, has raised $1.24 billion in new funds to invest in startups across the region. The firm is focusing on early- and growth-stage companies to understand how the market is evolving.
The funds, “Atomico Venture VI” and “Atomico Growth VI,” totaling $485 million and $754 million respectively, aim to support Series A and B through pre-IPO companies. This move reflects a shift in focus towards later-stage startups.
By raising and allocating money from separate funds, Atomico is attracting more risk-averse investors who may be hesitant to invest in early-stage companies. This also allows the firm to support tried and tested businesses with dedicated funds.
Despite a downturn in the global venture capital market, European VC funding has remained steady. Atomico’s latest fund, its largest to date, marks a significant milestone for the firm.
Founded in 2006 by Skype co-founder Niklas Zennström, Atomico has seen steady growth in its funds over the years. The recent funding surpasses the previous one by more than 50%.
While Atomico fell short of its venture funding target, it has already made investments in several companies across both funds. These investments signal the firm’s commitment to supporting startups at various stages of growth.
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