SpeedInvest raises €500m for next wave of European tech start-ups

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, which it plans to invest into 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 VC company said the remaining €200m is being reserved for follow-on co-investments in companies within SpeedInvest’s portfolio.

SpeedInvest said all the institutional investors from its previous €190m fund have returned for the latest flagship fund.

Major investors into the latest fund include New Enterprise Associates, the European Investment Fund and Bpifrance, alongside government funds, banks, insurance companies, pension funds and large family offices.

The VC company said 90pc of the fund has already been committed by its investors. Some successful founders from SpeedInvest’s portfolio have also invested, including 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 company also has six unicorns in its portfolio, including insurtech start-up Wefox, 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.

The VC company’s CEO and managing partner Oliver Holle said he is glad to see that “our founders truly appreciate and benefit” the company’s scalable investment platform.

“This new capital proves there is still room to innovate in European VC,” “As more and more capital and talent floods the ecosystem, further professionalisation of our industry is required.”

Alongside the new early-stage fund, 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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