Index raises €400m early-stage fund

The fund is Index's seventh early-stage vehicle and was raised in just two to three months.

Index Ventures VII's predecessor was launched in April 2012 with a €350m target, which it met just two months later in June.

The news comes after the VC enjoyed a spate of its portfolio companies listing on the public markets with hefty valuations. London saw King and Just-Eat list on the stock exchange with market caps of $7bn and £1.4bn respectively – though both are now trading below IPO price.

Likewise, Criteo raised $250m in its IPO on the Nasdaq in October last year.

Just yesterday, Index announced it had taken part in a $25m funding round for TransferWise, a London-based international money transfer service. Other recent deals by the VC include a €6m investment alongside Alven Capital in Paris-based peer-to-peer car rental service Drivy; a $3.3m commitment to London-based Big Health alongside Forward Partners in April; and a $26m series-C round for Czech social analytics company SocialBakers alongside Earlybird.

The VC was not yet available for comment.

Investors
According to reports, the fund saw 20-30 backers with the majority of commitments coming from existing investors in Index's previous funds. Backers included pension funds, funds-of-funds and college endowments.

Investments
The fund will focus its investment strategy on early-stage technology companies and has split its focus into four areas: mobile consumer, enterprise, networks and financial services.

Sectors of focus include robotics, bitcoin, the Internet of Things, online security and marketplaces.

The vehicle will invest across Europe as well as in Israel and the US. Index's team will spread itself out across London, Stockholm, Berlin, Paris, the San Francisco bay area, Los Angeles, New York and Tel Aviv.

Advisers
Ogier Legal, Tim Morgan, Niamh Lalor, Alexandra O'Grady, Stephanie Edge (Legal).

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• Topics
• Venture
• Technology
• Index Ventures