Creandum IV closes on €180m

The VC stated the fund was oversubscribed and reached its hard-cap at first close. Fundraising began in September 2015, with Asante Capital acting as placement agent and Andulf providing legal advice. The vehicle is based in Guernsey.

Creandum has grown its investment team at the start of 2016 with two new investors: Simon Schmincke joined from Earlybird and Bjarke Staun-Olsen from Rocket Internet's beauty marketplace Vaniday.

The VC closed its previous vehicle Creandum III on €135m in May 2013.

Investors
Investors hail from the Nordic region, Europe, the Middle East and North America. Among the fund's limited partners are pension funds, life insurance companies, university endowments, family offices, tech corporations and VC funds-of-funds. Cornerstone investors Skandia and AP6, which have backed Creandum since 2003, also invested in the latest vehicle. 

Investments
Creandum plans to back 30-40 startups within the next four to five years. Portfolio companies will be mainly from the Nordic region, but the VC will continue to make occasional investments across Europe.

The focus will be on seed and series-A rounds and a maximum investment of up to €20m per company. The fund has not made any investments yet.

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