Atomico is a European venture capital firm that secured 1.2 billion USD across two funding rounds from several investors. The company closed the new funding round at $1.24 billion. The VC firm described this as the largest-ever fundraising. The development came when the venture capital market in Europe was facing challenges. The company plans to use these fresh proceeds to back early-stage and growth-stage companies.
The latest funding round by Atomico surpassed the last round by 50 percent. The Securities and Exchange Commission mentioned that the VC firm plans to raise around 600 to 750 million USD for the venture and growth funds. Atomico fell behind its venture target by around 20 percent.
Techcrunch mentioned that the firm falling behind its original funding target highlights the willingness of fewer investors to back the early-stage company. This fund was raised from the participation of its family offices, CXOs, and founders. The firm claims to have made around 21 investments across both funding rounds including Atomico Growth VI, Pelago, and series B funding round of Cort.
The two funding rounds comprised $754 million focused on growth-stage companies and $485 million fund focused on early-stage startups. The company initially targeted 1.35 billion closing round. The Venture Capital firm previously focused on earlier funding rounds later on the company started to make late-stage investments through its new growth fund. This fund will be focused on late-stage startups across climate tech, artificial intelligence, and fintech sectors. This initiative helped small businesses to get funds to grow and scale their operations while developing a market presence.
The company claims to lead the funding across India at the early stage. Atomico specializes in making investments in growth-stage startups. Atomico has made around 173 companies since its inception with an average of 11 new investments each year. Tracxn reported. This development came after European startups encountered difficulties during funding rounds. The global funding ecosystem has caught increased investor interest.
This month, Next Bharat Ventures also launched Rs 340 crore India-focused funds to focus on early-stage Indian startups. The firm is focused on backing the startups and helping them grow while opening more job opportunities. The investments help the startups to enhance their engineering, finance, operation, category management, and growth.
Coclusion:
London-based Venture Capital firm Atomico aims to back European startups in the climate tech, fintech, and tech sectors. The company announced the closing of its funding round at $1.24 billion. The VC firm raised this amount across two rounds including $754 million for growth-stage startups and 485 million USD for early-stage startups.
The company intends to invest in several late-stage startups across these areas. The company generally makes investments in early-stage stage startups. Atomico originally aimed a final close for this fund at 1.35 billion USD. This fund will mainly focus on startups in sectors including fintech, and climate tech. The VC firm has invested in around 117 startups since its inception, including 11 new investments.
