Seedcamp, one of the best known startup accelerators and seed investors in Europe raised $30 million from a variety of investors to set up ‘Seedcamp 2.0’, an extensive accelerating program that involves backing around 100 ventures over the next four years not only through enrolling them into acceleration camps but also via direct seed investment.
In a statement, the company said they will now back companies from start to scale, because they are ‘bigger and better, allowing them to back more entrepreneurs, and at a faster pace.’.
European Investment Fund is giving almost half of the new funds whereas the rest comes from investors that include Index Ventures, Connect Ventures, WhiteStar Capital, Credo Ventures, Caixa Capital, Yandex, DC Thomson and Foley & Lardner, Barry Smith, Taavet Hinrikus.
The company said “Seedcamp is building an evolution of our acceleration model fit for the next decade.We have raised a new fund, worth more than $30m, that allows us to be much more ambitious about the way we support startups… (Because) in our experience, providing the first $75,000 investment and a three-month program to support the growth of a $10m business is not good enough anymore. Breakout success is all about scale and getting the $200,000, $2M, and $20M of investment that will help build a $1B business.”
Seedcamp clamis to be the first accelerator outside the US that back start-ups at scale, often supporting completely unproven founders in then-immature markets in Europe.