Europe's longest-running early-stage VC has raised its largest fund yet.
London-based Seedcamp has closed $320m across two vehicles: a $220m flagship fund for first-check investments and a $100m Select fund to back portfolio winners through Series B and beyond, the firm announced on 22 June.
Founded in 2007, Seedcamp was the first institutional investor in Revolut, Wise, UiPath, Synthesia, and Fluidstack. The firm now manages over $1bn in assets. Its third fund has returned more than 13 times the capital invested to its backers, according to the firm, with its fourth fund currently valued at more than five times what investors put in.
The new fund doubles down on first-check investing – backing founders before the company or category is obvious – while expanding the firm's US team to help European founders access American capital and commercial networks from day one.
"The last 20 years of European tech created companies that proved Europe could win," managing partner Carlos Espinal said in a statement. "The next 20 will create companies that define entire industries globally from day one."
Seedcamp's impact bets
Though Seedcamp carries no explicit impact mandate, its portfolio includes more than 20 sustainability-focused startups, according to data from Dealroom.
One of those is Winnow. The British startup has raised $36m to date to scale its computer vision tech that track what commercial kitchens throw away – cutting food waste by up to 50% for clients including IKEA, Hilton, and Marriott.
Another is Oxford-based Gardin Agritech, which puts optical sensors in greenhouses to measure photosynthesis in real time, giving growers early warning of crop stress before it's visible to the human eye. The startup raised $4.5m last year from Navus Ventures and MMC Ventures.
Lastly, there's Kelvin, which raised a €4.7m seed round in 2024 or its an AI model that tells homeowners exactly what energy renovations their property needs – and what they'll cost.
Seedcamp's more recent investments include space manufacturing company BioOrbit, autonomous robotics developer Sunrise Robotics, and AI agent company Dust.