Seedcamp Fund IV holds £60m final close

The final close included contributions of £2m from founders and through collaboration with equity crowdfunding platform Seedrs.

Following on from its first close on £41m in November 2017, the London-based venture capital firm's latest fund has made 15 investments to date, notably backing Factmata, Sweatcoin, Pace, Homie, Vantik, Doctorly, StepLadder, Maze and Veratrak. 

Seedcamp intends to back around 100 startups across Europe with its fourth investment vehicle.

Its first vehicle, the Seedcamp I fund, closed on €2.5m in June 2007, followed by the €3m Seedcamp II fund in November 2010 and Seedcamp 2.0, its third fund, on €26.74m in July 2014.

Investors
Seedcamp Fund IV is backed by global corporates, venture capital firms and funds-of-funds. These include Investec, Unilever Ventures, Thomas Cook Money, MassMutual Ventures, ADV, Draper Esprit, Index Ventures, Atomico, Idinvest Partners, Underscore Ventures, Speedinvest, Korelya, LocalGlobe, HenQ and British Business Investments, the commercial arm of the UK-government-backed British Business Bank.

Entrepreneurs backing Seedcamp's fourth fund include Daniel Dines, from UiPath, and Taavet Hinrikus, from TransferWise. Angel investors including Michael Pennington (Gumtree), Ed Wray (Betfair) and Barry Smith (Skyscanner) also supported the fundraising.

Institutions backing the fund as part of the final close include Orange Digital Investments, Cachette Capital Management and MUFG.

Investments
The VC firm intends to lead funding rounds with £100,000 and can anchor up to £250,000 by bringing in its network of angel investors and high-net-worth backers. At the seed stage, where there is already a lead investor on board, it intends to invest up to £400,000 in rounds of no more than £2m.

People
Seedcamp – Reshma Sohoni, Carlos Eduardo Espinal (co-managing partners).

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