Balderton Capital announced that it has closed its sixth funding round. The London-based firm will use its newest $375 million fund to expand its commitment to backing young European companies.
“It reflects the increasing opportunity we see in Europe,” said Bernard Liautaud, Managing Partner of Balderton. “There’s been a huge change in the past decade in the landscape. We have entrepreneurs who are much more ambitious.”
Over the last ten years, Balderton has played a key role in the emerging European venture capital and enterprise scene. The firm currently manages $2.6 billion in assets. Liautaud noted that in just the past year, its portfolio companies raised $850 million in follow-on funding.
“These are companies that are in good health, and they are doing well, and they are attracting outside capital,” he said.
This new fund includes current investors and new ones from Europe, the U.S., and Asia. The fund size tops the $305 million it had raised for its fifth fund. With an increase to seven partners, Liautaud said the firm has more bandwidth to scour Europe for startups and help guide them as they scale up.
“We have a partnership that has now worked together for many years,” said Liautaud. “And we have a track record. So, when we look at the performance and the quality of the companies that were in the prior funds, it gives investors a lot of confidence. What we still need to develop is entrepreneurs who have the drive to take it all the way. I think we are starting to see that now. European entrepreneurs have 10 times the ambition of a decade ago.”