TLDR:
Key points:
- Creandum raises €500mn fund to support European tech startups
- European tech investment is showing signs of recovery after a two-year slowdown
Swedish VC firm Creandum has raised a €500 million fund to support budding European tech startups, marking a potentially pivotal moment for tech investment in Europe. Following a two-year dry spell in the wake of the COVID-19 pandemic, the sector is seeing a resurgence, with funding and valuations on the rise, particularly in AI and SaaS.
The fundraising by Creandum follows several other significant deals in the tech investment landscape. Deep tech investor Plural Platform launched a €400mn fund, German VC World Fund secured €300mn for climate tech startups, and Belgian venture capital firm Imec.xpand raised €300mn for startups in semiconductors and electronics.
Investments in European startups are on the rise, with some of the biggest deals this year including funding for German machine translation unicorn DeepL, British fintech startup Abound, and London-based autonomous driving tech startup Wayve.
Half of the capital raised for Creandum’s fund came from US investors, indicating a renewed interest from the US in European tech. Creandum has recently backed startups like French AI startup H, German SaaS company Codesphere, and Spanish fintech Embat.
The European tech ecosystem is witnessing growth and rejuvenation, with US investors showing increased appetite for exposure to the region’s tech startups. This trend suggests a positive outlook for the future of European tech investment.
