Seedcamp raises $320M to split seed and growth investing

Seedcamp has raised $320 million across two vehicles, marking the firm’s largest fundraise to date and nearly doubling the size of its prior 2023 fund. The package includes $220 million for Seedcamp VII, which will back early-stage founders, and a $100 million Select fund for follow-on investments in growth-stage companies.

The structure gives Seedcamp more room to support companies beyond the first check, with the early-stage fund targeting roughly 100 to 120 startups and initial investments of about $1 million per deal. Select is designed to write larger follow-on checks of about $3 million to $5 million, mainly at Series B and later, which extends the firm’s reach as portfolio companies scale.

Seedcamp said the new capital will also support a deeper U.S. presence, including growth of its New York team, as it tries to connect European founders with American customers, capital, and networks. The firm reports more than 550 portfolio companies, 12 unicorns, and about $1 billion in assets under management, with limited partners including the British Business Bank, HarbourVest, Schroders, and Sofina.