Venture Capitalist Firm to Raise Next Largest European Fund

Published on: 11 Jul, 2018

Venture capitalist firm Lakestar is attempting to raise the next largest European fund for startup investments. Lakestar is targeting around USD 800 Million in investments, according to three people with knowledge of the matter. There’s no certainty of the final amount and discussions among investors are still ongoing. Skype co-founder, Niklas Zennstrom, created the previous largest European fund last year, which was valued at USD 765 Million.

Klaus Hommels founded Lakestar in 2013 and the Company currently has offices in Switzerland and London. Hommels is one of Europe’s most popular tech investors and has a track record of valuable moves into Spotify Technology S.A.( NYSE: SPOT), Facebook, Inc. (NASDAQ: FB) and Skype in their early days. Razor-maker, Harry’s, and financial startup, Revolut, had recent investments in Lakestar, and the Company’s new fund would be the first since its 350 Million-euros (USD 413 Million) in 2015.

Large funds have been announced this year, including Highland Europe’s USD 541 Million to invest in European technology companies and Eight Roads Ventures’ USD 375 Million fund.

Lakestar’s will be investing in two groups: young startups and growth-stage companies, according to two people with familiar with the plans.

The interest in technological investment has increased as European technology companies have seen successful returns. Spotify, the music streaming service, became the second most valuable technology company in Europe when it reached a USD 30 Billion valuation in its listing on the New York Stock Exchange in April and Dutch payments processor Adyen BV raised about 947 Million-euros in its introduction in June at Amsterdam.


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Andy Liao



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