Largest combined early-stage and growth funds focused on Europe
Balderton Capital, one of Europe’s leading technology venture capital firms, today announced the launch of its $615 million Early Stage Fund IX and $685 million Growth Fund II, aimed at supporting Europe’s most ambitious entrepreneurs from seed stage through to IPO.
“At Balderton, we believe the best way to change the world is to build a business – and that many of these world-changing businesses will be built in Europe,” said Bernard Liautaud, Managing Partner at Balderton. “As a firm, our mission is simple: to be the partner of choice for the founders starting and growing those European technology companies. These new funds put us in a position to do just that.”
There was strong investor demand for both Early Stage Fund IX and Growth Fund II, marking the first time Balderton has raised its early and growth funds simultaneously. The increasingly global mix of LPs in the firm’s funds has been drawn to Balderton’s European focus and track record of success over its 25-year history. This includes one of the largest and most prominent public state pensions in the United States, which is building a selective European VC portfolio, and British Patient Capital, the UK’s largest domestic investor in venture and growth opportunities.
Europe has a long and diverse history as a key hub for global tech, with proven successes across various sectors and countries. In just the last two years, Europe has established itself as a leader in AI, with London and Paris emerging as key innovation centres. The reasons for this are well-established: world-class institutions and engineers, a growing culture of entrepreneurialism, a developed funding ecosystem, and an increasing number of third and fourth-generation founders.
The growth of the European technology ecosystem has also delivered strong returns for investors. European VC funds have outperformed North American funds over both a 10 and 15-year period, according to data from Invest Europe and Cambridge Associates.
Since its founding in 2000, Balderton has invested in more than 275 technology companies across Europe. The current portfolio includes global category leaders such as Revolut, Dream Games, GoCardless, Contentful, Aircall, Wayve, Writer, and PhotoRoom. Many previous portfolio companies have successfully exited, including Darktrace, Depop, MySQL, Peakon, Recorded Future, Talend, and THG. Balderton’s investment history spans various technology sectors, including AI, fintech, B2B SaaS, digital health, mobility, gaming, and marketplaces.
In addition to hands-on support from its investment team, who possess invaluable operational and entrepreneurial experience, Balderton offers a range of services to its founders and portfolio companies, including:
- The Balderton Platform team, composed of experts in legal, finance, talent and people, marketing, and sustainability
- Executives in Residence – industry veterans with decades of experience as startup builders and operators, with expertise in areas such as sales, engineering, product, and legal
- The Balderton Community of more than 700 leading European technology executives from across the portfolio, who come together for peer support, networking, and events, forming one of the strongest startup networks in Europe
Additionally, Balderton takes unprecedented steps to support founders through its industry-leading Balderton Founder Wellbeing and Performance platform. This includes executive coaching, peer-to-peer support in CEO Forums, a health and fitness programme, and access to a digital platform for parent founders.
With Balderton’s 65 team members across Europe, $1.3bn in new funds, and a robust portfolio of more than 125 companies, the firm is excited to continue partnering with Europe’s top entrepreneurs as they build world-changing businesses.