Creandum announced the closing of its fifth fund at $300 million.
Creandum, a Stockholm, Sweden-based venture capital company, announced its fifth generation of the Creandum Early Stage Venture Funds - Creandum V.
Creandum V was closed at a €265 million ($300M) and according to the company was oversubscribed at its first close, as it was supported by new and existing investors, the latter primarily from the US.
The fund will follow the same strategy as previous Creandum Funds, focusing on early-stage opportunities at Seed and Series A level across Europe.
Creandum is based in Guernsey (an Island in the English Channel off the coast of Normandy), and has offices in Stockholm, Berlin and San Francisco.
Prior to this, the Swedish closed Creandum IV at EUR 180M in 2016. According to the company, its most successful fund was Creandum II, considered Europe’s best performing institutional venture capital fund ever, with a multiple on invested capital of 13x.
The company started from the Nordics and gradually expanded its investment scope across Europe, with successful exits from companies like Spotify, iZettle, Klarna, and Small Giant Games.