Observed Signal · Dec 13, 2022 · Funding · Source: Trending Topics · Impact: 2/5 · Sentiment: Positive
Speedinvest Raises €500M for Fourth Fund, Largest Austrian Startup Fund
Vienna-based venture capital firm Speedinvest announced its fourth fund totaling €500 million. The vehicle is split into a €300 million Seed Fund for new pre-seed and seed tech startups and a €200 million Opportunity Fund for follow-on investments in existing portfolio companies. The new capital brings Speedinvest's assets under management to more than €1 billion. Limited partners include NEA, the European Investment Fund, Bpifrance, Raiffeisen Bankengruppe Österreich, Erste Bank and KfW Capital. Speedinvest plans to build a portfolio of about 100 new startups across Europe over the next three years. CEO Oliver Holle described 2022 as the most difficult fundraising year in a decade but said the firm is now in Europe's upper VC league, with six unicorns and 20 so-called 'soonicorns' in its portfolio.
A €500M European VC fund raise is significant for the broader tech startup ecosystem and may fuel future AdTech/MarTech startups, but the article is not directly about an AdTech/MarTech product or platform event.
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Key Takeaways & Evidence Grounding
- Speedinvest raised €500 million for its fourth fund.
- €300 million is allocated to new pre-seed and seed investments, €200 million to follow-on investments.
- Speedinvest's total assets under management exceeded €1 billion.
- LPs include NEA, the European Investment Fund, Bpifrance, Raiffeisen Bankengruppe Österreich, Erste Bank and KfW Capital.
- The portfolio includes six unicorns: Bitpanda, GoStudent, Open, Tier Mobility, Wayflyer and wefox.
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