Index Ventures has raised $2bn in fresh capital, giving one of Europe's best-known VC firms a total of $3.5bn to deploy as it bets on AI creating the next generation of global technology companies.
The firm announced on Friday that it had closed a new $400m seed fund, a $900m venture fund and added a further $700m to its existing growth vehicle, increasing that fund from $1.5bn to $2.2bn. The new capital brings Index's total assets available for investment to $3.5bn across seed and growth stages.
Founded in 1996, Index has built one of Europe's strongest track records, backing companies including Revolut, Adyen, Figma, Roblox, Datadog and cybersecurity giant Wiz from their early days.
Recent events have boosted the firm's performance, including Google's $32bn acquisition of Wiz and Figma's IPO. Revolut, another longstanding portfolio company, recently completed a secondary share sale at a reported $115bn valuation.
The London-based firm said the new funds would allow it to continue backing founders "from first cheque to the public markets and beyond" across its core geography spanning Europe, Israel and the US.
The fundraising comes amid a wider slowdown in VC, where weak exit activity has made it harder for many firms to return cash to investors and raise successor funds. While capital has continued flowing into a handful of AI companies, startups in many other sectors have faced a tougher fundraising environment.
The raises reflect Index's growing conviction around AI. In a blog post announcing the raise, the firm argued that the technology is "putting the power to build into more hands than ever before", accelerating the path from idea to product and creating opportunities across sectors including cybersecurity, fintech, healthcare and consumer software.
Index has already increased its exposure to the sector, backing companies including Mistral, Cohere and former DeepMind researcher David Silver's startup Ineffable Intelligence.
