Analysis

September 22, 2023

Three European VCs fundraising right now

Here are the firms that have made filings indicating a fundraise


Eleanor Warnock

2 min read

Taavet Hinrikus

Many of Europe’s biggest VC firms have announced new funds within the last two years, and some have lots of money left to deploy. 

But a few are out fundraising again, in one of the toughest environments for securing LP cash in many years. Over half of VCs say the fundraising environment is “bad”, according to a survey of over 100 investors by Sifted this week. 

While most VCs must keep schtum until they’ve closed or partially closed a fund, they are regulated by law, so have to make filings in relevant jurisdictions. 

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Here’s who is fundraising now, according to US Securities and Exchange Commission (SEC) and Luxembourg filings (one of the most popular domiciles for VCs in Europe). 

Plural

  • Founded by Taavet Hinrikus, Ian Hogarth, Sten Tamkivi and Khaled Helioui, the founder- and operator-led fund announced its first fund of €250m last year.
  • It hired a fifth partner, Carina Namih, a scientist and former CEO of biotech startup HelixNano, earlier this year.
  • The fund has already begun to fundraise for a second vehicle, according to SEC filings and Luxembourg filings from June. 
  • A spokesperson declined to comment. 

DN Capital

  • The Auto1 backer is raising its sixth global VC vehicle, according to SEC and Luxembourg filings from earlier this year. 
  • It announced its fifth fund of $350m in 2021.
  • The firm has since opened an investigation into allegations of sexual harassment by its founding partner Nenad Marovac, following a report by Sifted. DN Capital says the allegations do not reflect the culture at DN Capital. A spokesperson for Marovac says he was “shocked, disappointed and saddened to learn of the allegations and that they did not reflect him as a person nor the culture at DN Capital."
  • The firm declined to comment. 

Lakestar

  • The backer of Alan and Revolut is raising a second growth fund and a fourth early-stage fund, according to SEC and Luxembourg, from 2022.
  • Bloomberg earlier reported that Lakestar has raised the early-stage vehicle with $260m. 
  • Koehler Group is an LP in both funds, according to an announcement. 
  • Lakestar declined to comment on fundraising activities due to regulatory requirements.

Eleanor Warnock

Eleanor Warnock was Sifted’s deputy editor and cohost of Startup Europe — The Sifted Podcast. Find her on X and LinkedIn