One of the UK's biggest venture capital firms raises fund to finance European tech startups


Raised a sixth fund of £281mn with a focus on European entrepreneurs

One of the UK’s biggest venture capital firms, Balderton Capital, has raised a sixth fund of $375mn (£281mn) dedicated to European technology start-ups and with a focus on ‘entrepreneurs who have a plan to build a really big company’.

“Valuation entry points are not as high as the ones in the US, but also you’re starting to see a lot more big companies coming out of Europe,” Balderton general partner and French entrepreneur, Bernard Liautaud, told City A.M.

“We had targeted $350m, we’re doing a bit more, but if you do too much, you start drifting in strategy,” Liautaud added.

Balderton Capital’s lead investor has also said the next world-class companies could emerge from Europe in fields including artificial intelligence, video gaming, music and messaging.

Since it was set up in 2000, Balderton Capital has backed a number of successful startups like transport app Citymapper, investment platform Nutmeg, and banking startup Revolut. Another of its most high-profile successes include early backing of Betfair before it went public, while a DNA analysis startup that uses artificial intelligence is one of its more recent investments.