Index Ventures raises $2bn across two new funds

Alessia Argentieri
28 April 2020

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Venture capital firm Index Ventures has raised $2bn across the simultaneous closings of Index Ventures Growth V and Index Ventures X.

Index Ventures Growth V, which invests in later-stage companies and growth rounds, raised $1.2bn, while Index Ventures X, which targets earlier rounds for smaller startups, closed on $800m.

These two closings represent a significant increase on Index's previous growth and venture funds' size. The VC held a $1bn final close for Index Ventures Growth IV and a $650m closing for Index Ventures IX in July 2018.

Founded in 1996, Index specialises in seed capital, and early-stage and late-stage investments. The firm injects up to €20m into companies operating across the technology and life-sciences sectors in Europe and the US, with a focus on Switzerland and Israel. The firm is headquartered in both London and San Francisco, with additional offices in Switzerland and Jersey.

Index has previously backed well known tech companies Deliveroo, Revolut and Transferwise, as well as European tech hits iZettle and Adyen. More recently it invested in London-headquartered childminding platform Tiney and Stockholm-based healthcare software provider KRY.

Ogier's Jersey investment funds team advised the GP on the fundraising.

Investors
The funds built a diversified investor base composed of research organisations, universities, medical institutes, pension funds and funds-of-funds. Numerous LPs from the firm's previous vehicles re-upped to these new funds.

Investments
The funds plan to split their investments between the US and Europe.

"Our new funds will focus on companies that are fundamentally transforming the way we live and work, as well as those providing the enterprise infrastructure and AI to underpin these changes in society and the economy," Index said in a statement.

People
Index Ventures – Neil Rimer (partner).