Atomico, the venture capital firm founded by Skype’s Niklas Zennström, announced the launch of two new funds totaling $1.24 billion. These funds aim to support European entrepreneurs at various stages of their growth, from early-stage startups to those nearing IPO. With this significant financial boost, Atomico seeks to empower European technology companies to compete on a global scale.
Previously, Atomico’s emphasis was on nurturing European startups through its $820 million fund, Atomico V. The new funds—comprising the $754 million Atomico Growth VI and $485 million Atomico Venture VI—illustrate a more than 50% increase in available capital. This shift represents Atomico’s growing ambition and confidence in the potential of European technology ventures. Historically, European startups have faced challenges in securing substantial early-stage funding, but recent trends indicate a changing landscape.
Atomico Growth VI is designed to collaborate with companies from Series B to pre-IPO, providing them with the necessary resources to scale globally. Simultaneously, Atomico Venture VI focuses on early-stage investments, predominantly at Series A, but also includes selective Seed opportunities. This dual-fund approach ensures comprehensive support for startups at different growth phases.
Focus on Founders
Since its inception in 2006, Atomico has maintained a founder-centric philosophy. Niklas Zennström highlighted the readiness of European technology to compete internationally, emphasizing the importance of experienced investors to guide ambitious founders.
“European technology is coming of age. Meeting this opportunity requires ambition, hustle and commitment from founders, who need investors with the experience and perspective to see beyond market cycles,” Zennström stated.
Europe’s tech ecosystem, valued at $3 trillion, is gaining ground on its global counterparts. The region now accounts for nearly 30% of global early-stage funding and fosters a higher rate of new company creation compared to other regions, indicating a robust and dynamic market.
Strategic Investments
Atomico has invested in over 155 technology companies across 15 European countries. Notable portfolio companies include Aiven, DeepL, Klarna, and Supercell, among others. One in six of these investments is valued at over $1 billion, showcasing Atomico’s knack for identifying high-potential ventures.
Recent investments under Atomico VI include 21 new ventures, while Atomico Growth VI has partnered with companies like DeepL and Pelago. On the other hand, Atomico Venture VI has supported startups such as Neko Health and Dexory, demonstrating a balanced investment strategy across various tech sectors and stages of growth.
The establishment of these new funds marks a pivotal moment for European technology, providing essential capital for startups to scale and innovate. As Atomico continues to foster the growth of high-impact companies, the European tech ecosystem stands to benefit significantly from this targeted financial support.
