Balderton Capital raised $1.3 billion across two funds, with its Early Stage Fund IX receiving $615 million and its Growth Fund II securing $685 million. The raise was met with cautious optimism, signaling a revival in European VC after lackluster years post-ZIRP and COVID-driven period of 2021 and 2022.
Partner Suranga Chandratillake mentioned that the funds were raised faster than ever, with 80% coming from existing LPs and a significant contribution from an unnamed U.S.-based institution. He highlighted the growing recognition of European venture as a significant part of the global VC landscape.
European AI startups such as Mistral, Wayve, and Poolside AI now represent 18% of all European VC funding, according to Dealroom. Balderton's recent investments include companies like Checkly, SAVA, and Tinybird, among others.
While Balderton has made notable investments in the European market, its exclusive focus on Europe has caused it to miss out on opportunities with prominent AI startups like OpenAI and Anthropic emerging from Silicon Valley and receiving substantial backing.
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