Atomico raises $477m for third fund

Atomico's original Securities and Exchange Commission (SEC) filing for the fund, dated 25 October 2012, stated that the firm was originally seeking to raise $392m and had already pulled in approximately $286.8m. The fund was originally named Atomico Ventures III before the firm amended it in a subsequent SEC filing.

Another SEC filing in December 2012 shows that the firm had upped its offering amount to $396.8m, having raised $301.5m by that point.

The firm is no longer fundraising for its third vehicle, having reached $476.6m. The fund is domiciled in the Cayman Islands and launched in 2011.

Atomico III's predecessor, Atomico Ventures II, raised $165m and held its final close in March 2010.

Investors
The European Investment Fund (EIF) is one of Atomico III's investors. EIF committed €20m to the vehicle via the £200m UK Future Technologies Fund (UK FTF) and the €5bn Risk Capital Mandate, the latter of which EIF manages on behalf of the European Investment Bank. The UK FTF is a technology-focused fund-of-funds launched by EIF and the UK government.

Atomico stated on its website that the fund's LPs are from Europe, Asia and the US. According to the firm's latest SEC Form-D filing, approximately $414.6m of the vehicle's total was committed by non-US investors.

Investments
Atomico focuses its investments on young companies operating in the technology sector, mainly investing in Europe and the US.

The fund has already made an investment of more than $25m in Finnish game developer Supercell as part of the company's $130m series-C round in April. A 51% stake in Supercell was recently sold to Japanese telecoms group SoftBank and GungHo Online Entertainment for $1.53bn, resulting in a healthy return on the partial exit for the company's venture capital backers.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Venture
• Technology
• European Investment Fund