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Image credits: Creandum

Creandum, a Stockholm-based early-stage venture capital firm, announced that it has raised its sixth early-stage fund of $500M (approx €448M). The Creandum VI fund was oversubscribed and includes additions from some of the most renowned global universities, endowments and foundations. 

While the Swedish VC continues to focus on fintech and consumer apps, its industry-agnostic approach allows the company to double down on growth areas like the creator economy, energy, web3, metaverse, and climate tech.

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General Partner Simon Schmincke says, “The early stage is where we have always been most comfortable. We commit to founders before the world catches on before everyone knows before it’s obvious.”

“This new fund will continue to back similarly talented product-led founders, identifying the next-gen of European unicorns. In nearly 20 years, we have learned an inimitable amount about what early teams and founders look like that develop products and services the world needs next,” he adds.

Creandum says that 1 in 8 of its portfolio is a unicorn, including Spotify, Klarna, Pleo, Depop, iZettle, Trade Republic, and more. 

Creandum: What do you need to know

Founded in 2003, the company has backed Europe’s most ambitious tech companies from seed to exit across industries. To date, the company has invested in more than 120 companies in four of the most vibrant startup ecosystems globally: Stockholm, London, Berlin, and San Francisco. 

The company has recently opened an office in London, joining San Francisco, Berlin, and Stockholm and enabling the team to invest in and support startups across Europe and beyond. 

Each Creandum fund over the last fifteen years now holds valuations between 6x and 13x, says the company.  

“In our experience, founders who focus on building the best products still prevail. Those who dare to think in generational opportunities and solutions will succeed by virtue of their burning passion for product excellence,” says Sabina Wizander, who rejoined Creandum as Partner last year.