Skype Founder’s VC Firm Atomico Raises $1.24 Billion to Boost European Tech Startups
Niklas Zennström, a co-founder of Skype, launched Atomico, a venture capital business, which just announced the opening of two $1.24 billion new funds. With the goal of supporting European digital firms in their early and growing stages, these funds aim to give the industry much-needed support in the face of falling valuations and layoffs.
Developing the Tech Sector in Europe
Image Source: techcrunch.com
The fresh funding represents Atomico’s sixth round of funding, indicating a resurgence of hope for the European digital industry. In addition to a $485 million early-stage fund targeted at Series A firms, the firm has announced a $754 million growth-stage fund that targets startups from Series B to pre-IPO stages. This action is a reaction to a notable decline in venture capital funding for European technology, which decreased by about 50% in 2023 over the prior year.
Vision and Investment Strategy
The investment strategy used by Atomico is designed to accommodate entrepreneurs at various phases of their careers. Zennström stressed that European technology is “coming of age” and that in order to help businesses grow internationally, they need to have ambition, dedication, and knowledgeable investors. These firms now have the financial resources from Atomico to expand and contend on a worldwide scale.
Principal Financial Commitments and Upcoming Prospects
The company’s portfolio includes around 155 assets spread across 15 European nations, and it has already made investments in a variety of businesses, such as DeepL, Corti, and Pelago. Atomico’s mission to assist innovative companies is in line with the expanding European tech scene, which currently accounts for about 30% of the world’s early-stage capital.
Andreas Cleve, co-founder and CEO, Corti: “When we chose to partner with Atomico, our motivation was more than just funding; it was about finding a collaborator who truly understands what it will take to build the world’s most trusted generative AI for healthcare. As a lean team with a mission to impact billions of patients worldwide, we needed strategic guidance, operational support, and a shared vision for transformative change.”
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In summary
European tech companies are well-positioned to reach new heights with Atomico’s $1.24 billion fund, supported by a venture capital firm that recognises their particular potential and difficulties. This fundraising gives the region’s tech sector, which is about to undergo a huge transition, much-needed impetus.
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