Stockholm-based VC frim Creandum has announced the successful first and final close of Creandum V, a €265m early-stage venture fund focused on high-potential opportunities across Europe.
Following strong demand from existing and new investors, Creandum V was heavily oversubscribed and enjoyed re-commitments from all institutional investors from Creandum IV, while also attracting several new investors primarily from the US.
The firm said it had not raised an even larger fund so as to remain focused on Seed and Series A investments. To date, the firm has helped to raise a total of €436m across 77 companies.
The Creandum Funds were shareholders in companies representing more than EUR 35 billion in exit value in 2018 alone including being the first VC investor in Europe’s biggest tech exit Spotify, which went public on the NYSE in April 2018 at a USD 29.5 billion market cap.
Other notable exits where Creandum was a shareholder include iZettle (acquired by PayPal for USD 2.2 billion), Small Giant Games (acquired by Zynga for USD 700 million), and Elastic (listed at Nasdaq with a market cap of USD 4.9 billion).
Creandum said that its second fund, which was the first venture capital investor in Spotify and iZettle, is Europe’s best performing institutional venture capital fund ever, according to industry experts.
Creandum V has selected Stockholm, Berlin and San Francisco based Creandum V Advisor as its exclusive advisor to the Fund.
“Looking forward we are excited to spend more time with founders across Europe ready to disrupt new industries on behalf of the Creandum V fund,” wrote operating partner Daniel Blomquist on a company blog.
“With ever faster technology change, an evolving ecosystem and 90% of GDP still left to disrupt, there has never been a better time to be a founder or an investor in venture capital.