Seedcamp

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Seedcamp
TypeLimited liability company
IndustryVenture capital
FoundedMay, 2007 (London, United Kingdom)
HeadquartersGoogle Campus, 4-5 Bonhill Street, EC2A 4BX, London, UK
Key people
Reshma Sohoni, Carlos Espinal
ProductsInvestments
Websitewww.seedcamp.com

Seedcamp is a European seed-stage venture capital fund, headquartered in London, launched in May 2007 by a group of 30 European investors.[1][2] The fund's Managing Partners are Reshma Sohoni and Carlos Espinal.[2][3][4]

As of August 2017, Seedcamp has a portfolio of over 250 companies who have gone on to raise over $1Bn in follow-on funding from leading investors across the globe.[citation needed]

In November 2017 Seedcamp announced the first close of its fourth fund at £41M - over 20x larger than the investor's first a decade earlier - with the plan to invest in 100 new startups from across Europe.[2]

Seedcamp's notable investments include Transferwise,[5][6] Revolut,[1] and UiPath.[1]

History[edit]

Seedcamp was originally created by Saul Klein and Reshma Sohoni.[7] Participating VCs and advisors in Seedcamp's launch included Index Ventures, Atomico Investments, Atlas Venture, Balderton Capital, TAG, Forsyth Group and Brown Rudnick.[8] Carlos Espinal joined as Partner in 2010.[9]

In 2014, Seedcamp announced a €20million Seed fund, which enables the early-stage investor in invest up to €200,000 into rounds between €300,000 and €2M. Seedcamp has invested in 24 seed stage startups[10] from its Seed Fund as of September 2015. The fund focuses on providing investment for startups looking to scale globally, rather than focusing on the initial hurdle of getting up-and-running.[11]

In October 2017, Seedcamp announced the acquisition of its first two funds by public listed company, Draper Esprit.[12] Seedcamp will maintain management of all companies, which includes fintech unicorn, TransferWise, as part of the sale.[citation needed]

In November 2017, Seedcamp announced the first close of a £41M seed fund to invest in 100 new startups across Europe[citation needed]. Seedcamp will lead pre-seed rounds with £100k and can anchor up to £250k by bringing angels and high net-worths into the round. Seedcamp will co-invest in seed rounds of up to £2M where there's already a lead investor on board.[citation needed] Seedcamp Fund IV consists of 60 LPs from across the globe including the likes of Index Ventures, Atomico, Draper Esprit, ADV, Idinvest, Korelya, Speedinvest[citation needed] and big business such as Investec, Thomas Cook Money, Unilever Ventures and MassMutual Ventures, marking the US-based insurer's first investment in Europe.[citation needed]

Seedsummit[edit]

Seedcamp spearheaded Seedsummit along with key global partners: a platform aimed at making it easier for startup entrepreneurs to find the most active seed investors relevant to their business.[13] Significantly, Seedcamp was able to sign up 21 European investors agree on a standard term sheet for startups. Techcrunch presented this as a “historic move”.[14]

Performance and notable exits[edit]

In October 2016, Seedcamp revealed it had returned its first fund almost 2x over.[15]

In January 2017, Seedcamp announced a small Secondary sale of its stake in fintech unicorn, Transferwise described as “one of the best European seed exits in recent years that wasn’t an acquisition or IPO”.[5]

In October 2017, Seedcamp Funds I & II were acquired by Draper Esprit for $26.3 million, delivering a reported 4x return to investors.[12][16][17]

Other notable exits include: Mobclix bought by Velti for $50M,[18] RentMineOnline bought by RealPage for $9.5M,[19] Crashpadder acquired by Airbnb,[20] and Talasim acquired by Jeeran.[21]

References[edit]

  1. ^ a b c "Europe's Seedcamp closes 4th fund at $81 million, partners with equity crowdfunding platform Seedrs". VentureBeat. 2018-05-22. Retrieved 2020-06-04.
  2. ^ a b c "Ten years on: Seedcamp outs new £41M seed fund and says it's ready to invest in tokens". TechCrunch. Retrieved 2020-06-04.
  3. ^ Evans, Peter. "Q&A with angel investor Reshma Sohoni". ISSN 0140-0460. Retrieved 2020-06-04.
  4. ^ "Is it possible to balance working in VC and motherhood?". Sifted. Retrieved 2020-06-04.
  5. ^ a b "Seedcamp sells part of its stake in European unicorn TransferWise". techcrunch.com. Retrieved 2017-08-10.
  6. ^ Ghosh, Shona. "Seedcamp cut its TransferWise stake just as Andreessen Horowitz upped its shares". Insider. Retrieved 2020-06-04.
  7. ^ "Interview with Seedcamp founder Saul Klein". Econsultancy. Retrieved 2015-11-30.
  8. ^ Arrington, Michael. "TechCrunch Partners With SeedCamp Europe". TechCrunch. Retrieved 2015-11-30.
  9. ^ "Seedcamp gets serious". Telegraph.co.uk. Retrieved 2015-11-30.
  10. ^ "Your First Round Fund". seedcamp.com. Retrieved 2015-11-30.
  11. ^ "Seedcamp Launches a Fund Focused on Helping Startups Achieve Longevity". The Next Web. Retrieved 2015-11-30.
  12. ^ a b "Publicly-listed UK VC Draper Esprit acquires Seedcamp's Fund I & II for $23.6M". TechCrunch. Retrieved 2020-06-04.
  13. ^ "Seedsummit Brings Europe's Seed Investors Together for the First Time". Techcrunch. Retrieved 2012-08-26.
  14. ^ "In A Historic Move 15 European Investors Agree on Standard Term Sheet for Startups". Techcrunch. Retrieved 2012-08-28.
  15. ^ "Seedcamp's fund performance shows booming European start-up scene". ft.com. Retrieved 2017-08-10.
  16. ^ Konrad, Alex. "This Seed-Stage VC Founder Sold His Entire First Fund At A 4x Profit. Will Others Follow?". Forbes. Retrieved 2020-06-04.
  17. ^ "Draper Esprit acquires Seedcamp Funds I and II for €20 million". Tech.eu. Retrieved 2020-06-04.
  18. ^ "Mobclix Acquired by Mobile Marketing Company Velti". Techcrunch. Retrieved 2012-08-27.
  19. ^ "Realpage Acquires RentMineOnline". NASDAQ. Retrieved 2012-08-27.
  20. ^ "Airbnb Buys Crashpadder its Largest UK Competitor". CNET. Retrieved 2012-08-30.
  21. ^ "Jeeran Acquires Talasim". The National. Retrieved 2012-08-27.

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