TLDR:
- Sweden’s Creandum announces closing of €500M fund for European startups at Seed and Series A stages
- New fund comes at a time of economic shift, with tighter capital market and lower investment levels compared to 2021
Stockholm-based VC firm Creandum has successfully closed its latest fund, Creandum VII, securing €500 million to support European startups at the Seed and Series A stages. This new fund arrives amidst a time of significant economic shift, with a tighter capital market and lower investment levels compared to the high liquidity period of early 2021. Founded in the wake of the dotcom bubble, Creandum has a history of navigating economic downturns, including the 2008-09 financial crisis, which has informed the firm’s approach in maintaining a consistent investment cadence even during turbulent times.
The European tech market continues to present promising opportunities despite current challenges, and Creandum’s disciplined strategy led them to cap the new fund at €500 million, aiming to maintain focused and consistent returns for their investors. The investor base for Creandum VII includes a mix of university endowments, pension funds, and charitable foundations, with half of the capital raised coming from US investors, indicating a growing interest in European tech from across the Atlantic.
Recent trends in European tech show encouraging signs, with an uptick in funding and valuations driven by advancements in AI and SaaS. Cities like Paris are becoming hubs for AI innovation, and climate tech is also gaining traction with a significant portion of venture capital funding directed towards climate tech companies in Europe. Creandum’s new fund aims to capitalize on these trends, supporting startups with the potential to become global leaders in their respective fields as the economic landscape continues to evolve.
