Atomico Raises Record $1.24 Billion for European Early and Growth Startups
European venture capital firm Atomico closes its largest fundraise ever, splitting $1.24 billion across two distinct funds for early and late-stage startups.
European venture capital firm Atomico closes new funds totaling $1.24 billion to back early- and growth-stage startups across the region. The London-based firm divides this record-breaking capital into two distinct pots, with $485 million allocated for "Atomico Venture VI" to target mostly Series A and seed companies, and $754 million designated for "Atomico Growth VI" to support Series B through pre-IPO businesses.
This strategic separation of funds marks a significant shift for Atomico, which historically focuses on early funding rounds. By operating separate funds led by different teams, the firm makes it easier to attract risk-averse limited partners who prefer to invest their money into proven, later-stage businesses rather than a single fund spanning from seed to Series F.
This massive fundraise occurs during a broader downturn in the global venture capital sphere, following an Atomico report that shows European startup funding halves in 2023 due to inflation and geopolitical events. However, optimists point out that recent funding levels actually remain slightly above pre-pandemic figures, suggesting that the European tech market sits on a much more stable footing than the grim headlines indicate.