Seedcamp Launches $320M Fund to Accelerate US Expansion and Global Startup Growth

After spending nearly two decades focused on investing across Europe, early-stage venture capital firm Seedcamp announced on Monday that it has secured $320 million for its newest fund, with part of the strategy aimed at expanding its presence in the United States.

Fund VII is the firm’s largest investment vehicle to date, significantly larger than the $180 million it raised for Fund VI in 2023. The new capital will be divided between two investment strategies. Around $220 million will be allocated to Seedcamp VII for early-stage startup investments. In comparison, the remaining $100 million will be directed to a newly created growth fund called Select, which will support follow-on investments in later-stage portfolio companies.

Although Seedcamp already operates offices in New York City and Miami, the firm now plans to expand its U.S. team to strengthen connections between its European startups and American customers, investors, and strategic partners. The move also reflects the renewed importance of San Francisco and Silicon Valley as major hubs for technology and venture capital activity.

“We need to plug founders into the right connective networks,” said Reshma Sohoni, Seedcamp’s co-founder and managing partner.

Sohoni said Seedcamp will continue pursuing its long-standing strategy of backing startups at the earliest stages, including companies that are still pre-product, pre-revenue, or even before gaining meaningful traction. The firm also expects to continue sourcing investment opportunities through its extensive network of portfolio founders and limited partners.

That investment strategy has produced several notable successes over the years. Seedcamp was among the earliest investors in companies including Fluidstack, Hopin, Pleo, Revolut, Synthesia, UiPath, and Wise. Today, the firm manages more than $1 billion in assets, has invested in over 550 startups, and counts 12 unicorns within its portfolio.

According to Sohoni, Seedcamp VII plans to invest approximately $1 million as an initial cheque in around 100 to 120 startups before participating in subsequent funding rounds. The new Select growth fund will typically invest between $3 million and $5 million per company, primarily participating in Series B rounds and beyond.

Sohoni also revealed that Fund VII’s limited partners include British Business Bank, HarbourVest, Schroders, Sofina, and roughly 80 founders from Seedcamp’s own portfolio companies who have invested as angel backers.

The firm will continue investing across a broad range of sectors, although Sohoni said Seedcamp intends to avoid highly capital-intensive businesses such as mobility startups and marketplaces.

“We generally stay away from capital-intensive businesses because financing working capital isn’t an ideal model from day one. We’re very much focused on commercially driven companies,” Sohoni said.