Creandum, investor in Lovable and Black Forest Labs, closes new $750 million fund
European early-stage VC Creandum has closed Fund VIII, its largest fund ever, at $750 million, up from the previous Fund VII of €500 million ($560 million). The new fund will invest in seed and Series A rounds, with half the capital for new projects and the rest for follow-on rounds, and may focus heavily on AI; its current portfolio includes Lovable, Olix, Modal and Black Forest Labs. Creandum is also opening a new office in San Francisco, working in coordination with its teams in Stockholm, London and Berlin.
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European early-stage VC firm Creandum, which has backed the likes of Lovable, Klarna and Black Forest Labs, today said it had closed its largest ever fund, a $750m fund. The new $750m fund, Fund VIII, is up in size from Creandum’s previous fund, Fund VII, which was a €500m ($560m) fund.
The new fund will back founders at seed and Series A, with half of the capital going to new investments and the rest to follow-on rounds, the VC said.
The fund is likely to invest heavily in AI, with its current portfolio including AI firms Lovable, Olix, Modal and Black Forest Labs.
Creandum said it has raised funding for the fund from ”multiple elite US and European institutional investors”. Creandum has had a presence in San Francisco since 2012 and has now opened a new office in the city, it said.
It said Creandum staff in the US will work alongside Creandum staff in Stockholm, London and Berlin, giving founders a single partner across Europe and the US.
Creandum pointed out that capital flows between the US and European tech remain largely one-directional, with roughly half of all capital invested in European tech coming from the US over the last year, while very little US tech funding came from Europe.
It added: “As US venture firms increasingly compete for deals in Europe, Creandum is expanding its work in San Francisco, while continuing to back founders across Europe.”
Staffan Helgesson, founder & partner, said: “After nearly 25 years in venture, one belief has only grown stronger: it’s the founders you back that matter most. With Fund VIII, we remain focused on one simple thing - finding the boldest and most ambitious early-stage founders in Europe - and increasingly in the US - and being the first to back them. That core focus is what led us to incredible companies like Lovable, Spotify, Modal, Black Forest Labs, and Rillet, to name but a few.”