TLDR:
– Venture capital firm Plural has launched a €400 million ($436.4 million) fund to support technology and AI startups in Europe.
– Plural Fund II aims to address the lack of former founders among venture capitalists in Europe, offering a founder-led approach to supporting entrepreneurs.
Venture capital firm Plural has launched a €400 million ($436.4 million) fund to support technology and AI startups in Europe. The fund, called Plural Fund II, comes just 18 months after the firm raised its previous fund of €250 million. Plural’s founders, including Wise co-founder Taavet Hinrikus and Skype co-founder Sten Tamkivi, believe that its founder-led approach will make a significant difference in supporting European entrepreneurs. Plural has already made 27 investments across various sectors and plans to invest at a pace of two to three investments per investor per year with its new fund. The fund’s largest sectors by investment are AI, frontier technology, and climate and energy. The launch of Plural’s new fund adds to the growing startup activity in Europe, particularly in the fintech sector. European startups have faced a venture funding shortage, leading many to explore alternative funding avenues such as government funds, corporate partnerships, and angel investing.
