London-based pre-seed and seed stage venture capital firm Seedcamp has closed its heavily oversubscribed fifth fund dubbed as Fund V at £78 million in partnership with Rabo Frontier Ventures (RFV).
In Fund V, Seedcamp will increase the amount of capital it invests in pre-seed and seed stage companies and will reserve capital for follow-on rounds up to Series B.
Founders will continue to benefit from Seedcamp’s global network and in-house platform of support, engineered to help companies get off the ground and to Series A.
In spite of the challenging macro climate, Seedcamp’s Fund V was more than 50% over-subscribed and is backed by some of the world’s leading institutions, investors and 80 of the fund’s founders.
Some of the investors include British Patient Capital, Legal & General, OMERS, Index Ventures, Northzone, Sequoia, Underscore VC, Taavet Hinrikus (TransferWise), Daniel Dines (UiPath), David Helgason (Unity).
Seedcamp Fund V is an equal partnership between Partners Carlos Espinal, Reshma Sohoni, Sia Houchangnia and Tom Wilson.
Seedcamp launched in 2007 and its portfolio of over 360 startups includes European decacorn, UiPath, and unicorn businesses Revolut, Transferwise and Hopin. So far the VC has reportedly invested in 118 pre-seed and seed stage companies in its previous Fund IV which first closed on Nov 2017.
Managing Partner of Rabo Frontier Ventures, Jeroen van Doornik commented:
“Seedcamp is a strong brand in pre-seed and seed-stage and it’s great to partner with their latest fund, Seedcamp V. This fund will continue to focus on the same stage across Europe, building a large and diversified portfolio. I’m looking forward to work with the team and invest in some of the portfolio winners in future.”
Featured image credit: Seedcamp