The Balderton Capital team at their London HQ
The money raised from the venture capital firm’s sixth successful funding round will be used to invest in early stage tech companies across Europe.
Balderton Capital, a leading investor in Series A-stage technology companies, has raised £280m to support a new generation of European-born global tech businesses.
The funding has been raised from new and existing investors from Europe, the US and Asia and hopes to find Europe’s next ‘tech unicorn’.
“Europe’s technology sector has already produced many game-changing global companies, but we are still waiting for our continent’s very own Google, Amazon or Facebook to emerge,” says Bernard Liautaud, Balderton Capital’s managing partner.
“As European start-ups grow bigger faster, we are convinced that is finally about to change. With growth accelerating - this year to date European companies have attracted more than US$12.5bn of venture investments – the continent can now produce and scale tech businesses of global significance.
“From AI to gaming, and music to messaging, Europe has built up reservoirs of world-class expertise which has inspired a generation of entrepreneurs with ten times the ambition of a decade ago,” he adds.
Balderton has a track-record of backing breakthrough companies ranging from MySQL to Betfair, and The Hut Group to Yoox Net-a-Porter, and over the past few years has invested in some of Europe’s most dynamic and fastest-growing tech businesses.
These include data analytics company Talend, which went public on the NASDAQ in 2016; AI start-up Magic Pony, which was acquired by Twitter last year; Kobalt, the world’s leading independent music services company; and NaturalMotion, the mobile gaming business, acquired by Zynga in 2014.
This year the firm has looked at more than 2,000 start-ups, from which it has made 10 investments in five countries since March, including Luno, Hiya and SOPHiA Genetics.
Balderton’s previous fund (Fund V) has seen a range of category leaders such as Nutmeg, Revolut, Prodigy Finance, Aircall, Carwow, and Frontier Car Group emerge.
A small team with entrepreneurial roots, Balderton’s partners have between them founded companies that went on to become multi-billion dollar businesses, and worked in the engine rooms of some of the world’s best-known tech brands - including Uber and Dropbox.
They have backgrounds and deep networks in Silicon Valley and beyond, and have returned to Europe to play their part in building businesses which will fuel economic growth, jobs and opportunity.