Aviva Investors, a London-based asset management business, announed it has made an €11.4 million investment with Lakestar, a European venture and growth capital firm specialising in technology.
This commitment to the Lakestar Growth Fund II targets growth-stage companies in deep tech, healthcare, fintech, and digitalisation.
The fund has already begun deploying capital, with recent investments including patient health assessment start-up Neko and low-cost satellite company Isar Aerospace.
Founded in Switzerland in 2012, Lakestar has previously backed prominent UK and European tech firms such as Revolut, Blockchain.com, and Spotify.
“Lakestar has a rich history and wealth of expertise, discovering and supporting pioneering companies which have grown to be at the forefront of their industries,”
said Ben Luckett, Managing Director of venture and strategic capital at Aviva Investors.
“The European technology sector has such vast potential to nurture world-leading ideas from globally-important clusters which can drive future growth. We believe Lakestar’s can give us unrivalled access to these opportunities, supporting portfolio company growth and unlocking long-term investment returns for our clients.”
This marks the third venture and growth capital investment announced by Aviva Investors this year, following its previous backing of Oxford Science Enterprises and Northern Gritstone.
It also follows the February launch of the Aviva Investors Venture and Growth Capital Long Term Asset Fund (LTAF), designed to offer pension funds better access to innovative companies.
Previously, Lakestar announced the closing of their Early IV and Lakestar Growth II funds, for around US$600 million to inject new capital into the next generation of European startups.
Featured image credit: edited from freepik
