Balderton raises $600m fund for early-stage startups

London-based Balderton Capital has raised its second fund of 2021. The new $600m fund will be focused on early-stage European startup companies.

Balderton was set up by former Esat Digifone CEO Barry Maloney initially as the European office of Silicon Valley venture capital group Benchmark and later Balderton Capital, which he headed until 2016.

The latest fund means Balderton has raised almost $4.5bn across 10 funds to date. It has invested in close to 300 ventures including early backing for Betfair and Revolut.

The firm said it has invested in 20 new startups so far this year in sectors ranging from reproductive health and instant commerce to data labelling and gaming.

Managing partner Bernard Liautaud said this year’s two funds support his firm’s transition from a leading Series A investor to a multi-stage fund. 

"(It) gives us more firepower and flexibility and helps us to uncover more hidden gems among Europe's startups."  he said.

"The launch of Fund VIII marks 21 years of seed and Series A investing at Balderton. In that time we have had the huge privilege to work with many irrepressible founders with outsized ambitions and we hope to do so once again." said General Partner Suranga Chandratillake. 

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