Lakestar II: New €350m fund focusing on European and US-based startups

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European venture capital firm Lakestar has announced it has closed on a new €350m ($398m) fund Lakestar II. Lakestar II is the largest fund to be raised by Lakestar, and one of the largest VC funds in Europe. It is early investor in Spotify, Skype, King.com, Airbnb and Facebook.

The Founder and Chair of Lakestar, Klaus Hommels, is a leading European business angel and venture capitalist. He has been involved in numerous successful Internet investments.

Regarding the new fund he stated: “We were very pleased to have received interest in Lakestar II from many prominent investors – in fact, the fund was significantly oversubscribed. However, €350m is the right size to give our portfolio companies the appropriate level of personal attention and support from our partners, and to help these businesses grow. The European technology market is continuing to boom. We’re seeing high-quality investment opportunities in tech, in a venture capital ecosystem that has materially improved and is increasingly producing market-leading companies on a global scale.We’re also seeing a shift in the way the most promising companies access funding – rather than going public, major players are seeking private funding later in their development, providing opportunities for follow-on investments in strong performers. We have invested in some of the world’s biggest start-ups up to now. We plan to continue to do this, in Europe and the US.”

Focus with the new fund is going to be primarily on early-stage investments and on growth stage investments when start-ups are looking for the resources to grow and scale. The firm’s geographical focus will embrace Europe and the US, and facilitate connections between the two geographies for its companies. The size of Lakestar II will allow the partners to invest at all stages. Rather than focus on a particular segment within the digital industries, Lakestar is looking across a wide range of sectors. This will allow its experienced partners to capitalise on opportunities to build disruptive businesses across different major markets.

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