Venture capital (VC) agency Index Ventures has announced a whopping $1.65 billion in funds because it targets world startups at numerous phases.
The cash is break up throughout two pots — $650 million for the agency’s ninth enterprise fund (geared toward earlier stage startups), and $1 billion for its fourth progress fund (geared towards “scale ups”).
Index Ventures’ earlier fund closed at $550 million in 2016, whereas its third progress fund closed at round $706 million a 12 months earlier.
The highway main to those newest funds was a brief one, based on the corporate, which mentioned it made the choice to lift the brand new funds throughout its annual assembly in April and had secured the entire aforementioned money by the top of June.
Founded in 1996, Index Ventures at the moment claims twin headquarters in London and San Francisco. It has backed quite a lot of big-name corporations by the years, together with Etsy, Facebook, Flipboard, King, Skype, Slack, SoundCloud, TransferWise, and Zendesk. In the previous few months alone, Index Ventures has claimed 4 notable exits, with Sweden’s iZettle selling to PayPal for $2.2 billion, Dropbox floating on the Nasdaq, Adyen going public on European inventory change Euronext, and Zuora selling its shares on the New York Stock Exchange.
Index Ventures’ new funds are the most recent in a spate of funds to emerge from VC companies with ties to Europe. Last week, Berlin-based Earlybird closed a fresh €175 million ($204 million) fund centered on early-stage “deep tech” startups throughout Europe, which got here shortly after Highland Europe introduced a $540 million growth-stage fund. Elsewhere, U.Ok.-based Kindred Capital closed its inaugural fund at around $112 million, Seedcamp announced its fourth fund at $81 million, and U.Ok.-focused IQ Capital raised a $165 million fund for early-stage transformative startups