Creandum closes £560m fund to back UK seed and Series A founders
This article covers Creandum, a venture capital firm, closing its eighth vehicle, Creandum Fund VIII, at £560m and using the raise to double down on early-stage investing while expanding in the United States. The fund will back Seed and Series A founders worldwide, with half the capital earmarked for new investments and half reserved for follow-on rounds to support portfolio growth and transatlantic scaling.
Creandum has closed its eighth vehicle, Creandum Fund VIII, at £560 million and is using the raise to double down on early-stage investing while expanding in the United States. The fund will back Seed and Series A founders worldwide, with half the capital earmarked for new investments and the other half reserved for follow-on rounds in existing portfolio companies — a sign of intent to invest through multiple funding stages.
Why it matters
A £560 million early-stage fund is material in today’s venture market. By allocating 50 percent of the pool to follow-ons, Creandum is signalling a preference for backing founders beyond the first check — a useful edge when later rounds can be harder to secure. The raise also formalises a deeper push into the US, where the firm has operated for over a decade.
Investors in Fund VIII include a mix of US and European institutions, the firm says. Creandum was founded in 2003 and has built a sizeable footprint in European venture capital over the past two decades.
Inside the portfolio
Creandum’s portfolio exceeds 200 companies. That roster includes some high-profile names that demonstrate the firm’s reach across fintech, mobility, music and climate tech.
- Spotify and Klarna are among its better-known early bets and reflect Creandum’s history of backing companies that scale internationally.
- Bolt and Trade Republic point to investments in mobility and fintech challengers.
- Modal and Olix represent the firm’s play in AI infrastructure.
- Black Forest Labs and Lovable sit on the models and applications side of Creandum’s AI exposure.
- Rillet and Fuse Energy show continuing interest in fintech and energy verticals.
Creandum says one in six of its early-stage investments has reached a valuation of £750 million or more, a metric it uses to underline its hit rate at the Seed and Series A level.
Expanding in the US
Creandum has been present in San Francisco for 13 years and has now opened a new office at 58 South Park Street. The firm has tripled its investment team in the city and is building a platform team intended to support portfolio companies across growth and operations.
The San Francisco office will operate alongside Creandum’s teams in Stockholm, London and Berlin, signalling a transatlantic approach to sourcing and supporting early-stage founders.
Who’s behind the fund
Creandum was founded in 2003 and has grown into a multi-market investor focused on Seed and Series A rounds. The firm says Fund VIII will continue that focus while putting more weight on the United States.
In the announcement, Staffan Helgesson, Founding Partner at Creandum, said:
After nearly 25 years in venture, one belief has only grown stronger: it's the founders you back that matter most. With Fund VIII, we remain focused on one simple thing - finding the boldest and most ambitious early-stage founders in Europe - and increasingly in the US - and being the first to back them. That core focus is what led us to incredible companies like Lovable, Spotify, Modal, Black Forest Labs, and Rillet, to name but a few.
Founder perspective
Creandum highlights its role as an early backer for several portfolio companies. That hands-on relationship is reflected in founders’ comments.
In the announcement, Nicolas Kopp, Founder & CEO at Rillet, said:
Creandum believed in us early, when we were just a small team coming out of stealth. They have been our first call ever since.
The bigger picture
Creandum’s Fund VIII sits within a broader trend of established European VCs raising larger pools to stay competitive with US firms and to be able to support winners through multiple rounds. The firm’s explicit split between new commitments and reserves for follow-ons will matter to founders deciding between competing term sheets.
The fund’s emphasis on AI infrastructure, models and applications mirrors the wider investor move into AI across Europe and the US. Creandum’s US expansion underscores increasing cross-Atlantic competition for early-stage deals and the desire among European investors to be active where founders and talent cluster.
For UK and European founders, an enlarged Creandum with a stronger US presence means more capital available at Seed and Series A and potentially a deeper bench of follow-on support — a notable development for startups aiming to scale internationally.
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