5/28/2023 0 Comments Mid air thief![]() ![]() SoftBank and its mighty Vision Fund made a big play in Europe several years ago, out of offices in London, but it's also seen a number of bum bets among them, and this year the bad news has compounded, with the firm reporting huge losses, leading to downsizing and restructuring to shore up investor confidence. Looking at some of the biggest names in growth funding and their activities in Europe, there indeed does seem to be a vacuum in the market at the moment, providing interesting opportunities for those willing to step up. (Those figures, incidentally, come from Atomico, Brochado's previous home and also a stalwart of European-based funding for home-grown startups.) But within that European investors accounted for just 30% of growth round funds by value. Investments in European startups stood at $20 billion in 2017 and ballooned to more than $100 billion by 2021 - with bigger, later-stage rounds accounting for a bulk of that increase. These are notable details not just because of the current, constricted investment climate, but because Europe has actually been a minority player in the growth-funding story in this region. This is the first fund EQT Growth has raised specifically for tech investments, Brochado added, and it stands as one of the biggest first-time growth funds in Europe to date. (The full size of the fund is €2.4 billion, including commitments from EQT employees and the EQT Network the latter are not fee-generating.) ![]() Over two-thirds of that capital is still available. In the latest development, EQT - the private equity and venture firm based out of Stockholm - is announcing that it has closed a €2.2 billion ($2.2 billion) fund for EQT Growth, which it will be using for investing in European and Israeli founders and startups in areas like enterprise, consumer, health and climate tech, with typical rounds ranging between €50 million and €200 million.ĮQT partner Carolina Brochado said in an interview that the fund was first opened in 2021 and that the company has made seven investments out of it already since then. if they want to grow (and raise money to do so) have been receding in the rearview mirror for a while now, so much so that even in these leaner times - where all fundraising and tech bets are tightening up - we're still seeing some significant money and optimism getting channeled into later-stage businesses. The days of European startups relocating to the U.S. ![]()
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