Seedcamp's $320M Fundraise: Capital Allocation, US Expansion, and the Ambition to Back Europe's Next Global Giants

• Seedcamp VII (Flagship First-Check Fund): $220 million dedicated to pre-seed and seed investments in 100–120 startups. Typical first checks are roughly $1 million, and the firm plans to lead roughly 70% of deals with a 5–10% ownership target . The fund is deliberately tilting toward AI at the intersection of science and the physical world, including autonomous robotics, defense, health tech, and space manufacturing .
• Select Fund (Growth Follow-On Vehicle): $100 million set aside to back portfolio winners from Series B onward, with checks of $3–$5 million per deal . (One Facebook repost cited $95 million, but the official Seedcamp announcement and the overwhelming majority of reports confirm $100 million .)

The dual-fund structure solves a structural problem: Seedcamp can now defend its ownership in breakout companies through later rounds instead of watching larger crossover investors capture the upside .

US Expansion and the Transatlantic Bridge Strategy

Seedcamp is expanding its US team and opening a dedicated New York office, supplementing an existing presence in Miami . The firm describes this as a "transatlantic bridge" — connecting European founders to US capital, commercial and technical hiring networks, and customer access without requiring them to relocate .

Managing partner Reshma Sohoni said the goal is to "plug founders to nodes that are connective" and help them "think global from day one" . Managing partner Carlos Espinal added: "The last 20 years of European tech created companies that proved Europe could win. The next 20 will create companies that define entire industries globally from day one" .

Track Record and Portfolio

• AUM: Over $1 billion .
• Fund III returns: More than 13x DPI (distributed to paid-in capital) to limited partners .
• Fund IV: Above 5x net TVPI (total value to paid-in capital) .
• Portfolio: More than 550 companies, including Revolut, Wise, UiPath, Synthesia, Fluidstack, and Hopin — 12 unicorns in total .
• LP base: More than 80 previously backed founders reinvested in this fund .

The New European Ambition

Partner Sia Houchangnia captured the shift in European founder mentality:

"There was a time when European founders waited for permission to dominate global markets. That era is over. Whether it's a teenage dropout in Warsaw, a repeat founder in Paris, or a deeptech spinout from Zurich, the level of ambition is immediate and total. We've expanded our team and US presence to match that drive."

Partner Tom Wilson said the firm is at "the beginning of a new technological paradigm where AI increasingly intersects with science and the physical world," with many European founders emerging with global ambition from day one . Reshma Sohoni put the firm's posture bluntly: "Ambitious founders don't want to be coddled; they want the sharpest opinion around the table when the stakes are highest" .