Stockholm-based venture capital firm Creandum has closed a €668 million (US$750 million) fund called Creandum VIII. The vehicle will back early-stage technology startups from pre-Seed to Series A. It is the firm's largest fund to date.
Fund details
The new fund plans to support about 30 investments over the next two years. It follows a €500 million vehicle that closed in June 2024. The firm said it could have raised more but chose a disciplined size.
Firm track record
Creandum was founded in 2003 and has offices in London, Berlin, and San Francisco. Its early investments include Spotify, Klarna, iZettle, Depop, Bolt, and Trade Republic. More recent portfolio companies include Lovable, Black Forest Labs, Modal, and Rillet.
Investment strategy
The firm will keep a generalist strategy rather than limit the fund to a single technology. It sees particular opportunities in AI and enterprise technology. Creandum also plans to use AI tools to improve how it sources and evaluates companies.
Creandum is also expanding its San Francisco office. The West Coast team has tripled in the past two years. The firm aims to support European startups entering the U.S. and American startups seeking early-stage capital.