Stripe and Klarna backer Atomico has raised two funds to drive progress within the European tech start-up scene.
European enterprise capital agency Atomico has raised $1.24bn throughout two funds in its largest ever fundraise to proceed fuelling start-ups.
The increase contains the $754m ‘Progress VI’ fund which goals to assist firms from Sequence-B to pre-IPO and a $485m ‘Enterprise VI’ fund for firms in Sequence A or at seed stage.
That is greater than a 50pc improve on its $820m increase underneath the Atomico V fund in 2020.
“European expertise is coming of age,” mentioned Atomico founder and CEO Niklas Zennström. “Assembly this chance requires ambition, hustle and dedication from founders, who want buyers with the expertise and perspective to see past market cycles.
“Our new funds convey them important fireplace energy to degree up and obtain international scale – from Europe.”
Headquartered in London, Atomico has already made 21 investments into start-ups throughout Europe, together with DeepL and Pelago underneath the brand new Progress VI fund and Neko Well being, Dexory and Deeploi underneath the brand new Enterprise VI fund.
In keeping with Atomico, one-in-six firms it has backed is presently valued at greater than $1bn, together with Irish-owned Stripe that reached a market valuation of $70bn earlier this 12 months.
A report from Atomico final 12 months valued the European expertise ecosystem at $3tn, rivalling international rivals. Europe now captures near 30pc of worldwide early-stage funding and is creating extra new firms than every other area.
The report confirmed that European VCs have constantly outperformed their US counterparts over the previous twenty years by at the least matching, and most often, beating benchmarks from VCs throughout the pond in addition to European buyout and public equities.
The information additionally confirmed that extra firms are cropping up in Europe when in comparison with the US within the AI sector bringing a lot of the seed funding.
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