Seedcamp’s New Portfolio Analysis Maps Europe’s Flourishing Tech Scene

Comment

Image Credits:

Back in September 2007 I attended a startup pitch event held in a London university lecture theatre. The surroundings weren’t plush. The slightly musty lecture theatre didn’t hint at the ambitions of the people present. But when Niklas Zennstrom, co-founder of Skype walked in, and joined in a panel of other seasoned tech entrepreneurs, everyone knew something important was happening.

What we saw of course, was the birth of Seedcamp, the first truly pan-European accelerator which went on to become a dedicated early-stage fund. Eight years on, it’s now releasing an updated portfolio analysis, on the occasion of passing 200 invested companies.

Of the 206 companies it’s so far invested in, 149 of them are still operational, 45 ended up shutting down and it’s had 12 exits of one sort or another. Thus its failure rate is less than 25%, a decent figure for most investors. Its companies have raised a total of $365M in funding, with the pace of investing speeding up. The last two years saw it invest in 95 startups.

Co-founded by Reshma Sohoni and Saul Klein, and now led by Sohoni and Partner Carlos Espinal, Seedcamp held multiple events across Europe to network Founders, Investors and Mentors. And the pace was, in those early years, blistering. Although I went on a few of their trips, their programme was intense.

The largest sector it’s now invested in is FinTech, with investments such as Transferwise, Revolut, Curve and Monese. And a €20M seed fund launching in mid-2014 now has 29 companies in its portfolio.

Sohoni said: “Seedcamp was born out of a need to connect the best parts of the European tech ecosystem to build businesses that could be world-class. Since we launched, the tech scene has changed dramatically. We have multiple tech hubs that are creating multi-billion dollar businesses. We have an influx of capital, particularly in London, with sizeable capital available that you didn’t see in 2007.”

Carlos Espinal, Partner at Seedcamp, added: “We’ve always been sector agnostic when considering companies for investment, but there are waves of innovation that emerge, and we do our best to get ahead of them and invest early. For example, 15 per cent of our portfolio is FinTech, a growing and exciting space in Europe, and recently we’ve made more investments into PropTech which now makes up 7 per cent of our companies.” It’s also invested in blockchain, cyber security and artificial intelligence.

Other data points include:

• 84 per cent of Seedcamp backed companies have received further funding.

• Number of investments per year: 2007 – 6, 2008 – 7, 2009 – 9, 2010 – 14, 2011 – 19, 2012 – 28, 2013 – 28, 2014 – 35 (7 were Seed), 2015 – 60 (22 were Seed).

• Top sector per year based on number of investments: 2007 – Analytics, 2008 – Analytics, 2009 – AdTech, 2010 – Cloud/Saas, 2011 – Cloud/Saas, 2012 – FinTech, 2013 – e-Commerce, 2014 – Media, 2015 – FinTech.

• Portfolio includes: FinTech – 15 per cent, Cloud/SaaS – 13 per cent, Analytics – 10 per cent, e-Commerce – 10 per cent, Media – 8 per cent, PropTech – 7 per cent, Developer Tools – 5 per cent, Social – 5 per cent, Marketplaces – 5 per cent, Gaming – 4 per cent, Communications – 3 per cent, IoT/Hardware – 3 per cent, HealthTech – 2 per cent, AdTech – 2 per cent, Travel – 2 per cent, Security – 2 per cent, EdTech – 2 per cent.

• Seedcamp companies have created over 2,500+ jobs in tech.

• It’s reviewed startups from 70 different countries and backed startups from 37.

• Seedcamp has co-invested alongside over 500 VCs, angels and corporate investors with 34% of the Seedcamp portfolio being backed by at least one US-based investor.

The latest 15 companies (pre-seed and seed) to join the Seedcamp portfolio include:

Alterest Investment – Investment management platform
for marketplace finance

Authentiq – Strong authentication without the
passwords

Beeline – Smart navigation for bicycles

Buildcon – Construction management tool

Cardlife – Subscription management platform

Finance Fox – Insurance comparison and
advice application

Greenhouse – Cloud-based continuous integration
service for mobile app developers

Nanoget – Online rental management platform

Open Sensors – An Internet of Things company
providing public and private infrastructure for real-time data.

Repositive – Find genomic data relevant to your
work, collaborate on data projects and make your datasets discoverable and
accessible

Rock Pamper Scissors – Discover
talented stylists & salons then book online

SwiftShift – Real-time workforce management

ThingThing – Third party keyboard to access and
share your photos, documents, calendar and more

Unlease – Revolutionizing the rental market by
creating a platform for flexible, medium-term sublets.

Unmanned Systems – World=E2=80=99s first and only
Drone-as-a-Service (DaaS) platform

Applications are currently open for pre-seed investment and will close on January 31st.

More TechCrunch

Companies are always looking for an edge, and searching for ways to encourage their employees to innovate. One way to do that is by running an internal hackathon around a…

Why companies are turning to internal hackathons

Featured Article

I’m rooting for Melinda French Gates to fix tech’s broken ‘brilliant jerk’ culture

Women in tech still face a shocking level of mistreatment at work. Melinda French Gates is one of the few working to change that.

3 hours ago
I’m rooting for Melinda French Gates to fix tech’s  broken ‘brilliant jerk’ culture

Blue Origin has successfully completed its NS-25 mission, resuming crewed flights for the first time in nearly two years. The mission brought six tourist crew members to the edge of…

Blue Origin successfully launches its first crewed mission since 2022

Creative Artists Agency (CAA), one of the top entertainment and sports talent agencies, is hoping to be at the forefront of AI protection services for celebrities in Hollywood. With many…

Hollywood agency CAA aims to help stars manage their own AI likenesses

Expedia says Rathi Murthy and Sreenivas Rachamadugu, respectively its CTO and senior vice president of core services product & engineering, are no longer employed at the travel booking company. In…

Expedia says two execs dismissed after ‘violation of company policy’

Welcome back to TechCrunch’s Week in Review. This week had two major events from OpenAI and Google. OpenAI’s spring update event saw the reveal of its new model, GPT-4o, which…

OpenAI and Google lay out their competing AI visions

When Jeffrey Wang posted to X asking if anyone wanted to go in on an order of fancy-but-affordable office nap pods, he didn’t expect the post to go viral.

With AI startups booming, nap pods and Silicon Valley hustle culture are back

OpenAI’s Superalignment team, responsible for developing ways to govern and steer “superintelligent” AI systems, was promised 20% of the company’s compute resources, according to a person from that team. But…

OpenAI created a team to control ‘superintelligent’ AI — then let it wither, source says

A new crop of early-stage startups — along with some recent VC investments — illustrates a niche emerging in the autonomous vehicle technology sector. Unlike the companies bringing robotaxis to…

VCs and the military are fueling self-driving startups that don’t need roads

When the founders of Sagetap, Sahil Khanna and Kevin Hughes, started working at early-stage enterprise software startups, they were surprised to find that the companies they worked at were trying…

Deal Dive: Sagetap looks to bring enterprise software sales into the 21st century

Keeping up with an industry as fast-moving as AI is a tall order. So until an AI can do it for you, here’s a handy roundup of recent stories in the world…

This Week in AI: OpenAI moves away from safety

After Apple loosened its App Store guidelines to permit game emulators, the retro game emulator Delta — an app 10 years in the making — hit the top of the…

Adobe comes after indie game emulator Delta for copying its logo

Meta is once again taking on its competitors by developing a feature that borrows concepts from others — in this case, BeReal and Snapchat. The company is developing a feature…

Meta’s latest experiment borrows from BeReal’s and Snapchat’s core ideas

Welcome to Startups Weekly! We’ve been drowning in AI news this week, with Google’s I/O setting the pace. And Elon Musk rages against the machine.

Startups Weekly: It’s the dawning of the age of AI — plus,  Musk is raging against the machine

IndieBio’s Bay Area incubator is about to debut its 15th cohort of biotech startups. We took special note of a few, which were making some major, bordering on ludicrous, claims…

IndieBio’s SF incubator lineup is making some wild biotech promises

YouTube TV has announced that its multiview feature for watching four streams at once is now available on Android phones and tablets. The Android launch comes two months after YouTube…

YouTube TV’s ‘multiview’ feature is now available on Android phones and tablets

Featured Article

Two Santa Cruz students uncover security bug that could let millions do their laundry for free

CSC ServiceWorks provides laundry machines to thousands of residential homes and universities, but the company ignored requests to fix a security bug.

2 days ago
Two Santa Cruz students uncover security bug that could let millions do their laundry for free

TechCrunch Disrupt 2024 is just around the corner, and the buzz is palpable. But what if we told you there’s a chance for you to not just attend, but also…

Harness the TechCrunch Effect: Host a Side Event at Disrupt 2024

Decks are all about telling a compelling story and Goodcarbon does a good job on that front. But there’s important information missing too.

Pitch Deck Teardown: Goodcarbon’s $5.5M seed deck

Slack is making it difficult for its customers if they want the company to stop using its data for model training.

Slack under attack over sneaky AI training policy

A Texas-based company that provides health insurance and benefit plans disclosed a data breach affecting almost 2.5 million people, some of whom had their Social Security number stolen. WebTPA said…

Healthcare company WebTPA discloses breach affecting 2.5 million people

Featured Article

Microsoft dodges UK antitrust scrutiny over its Mistral AI stake

Microsoft won’t be facing antitrust scrutiny in the U.K. over its recent investment into French AI startup Mistral AI.

2 days ago
Microsoft dodges UK antitrust scrutiny over its Mistral AI stake

Ember has partnered with HSBC in the U.K. so that the bank’s business customers can access Ember’s services from their online accounts.

Embedded finance is still trendy as accounting automation startup Ember partners with HSBC UK

Kudos uses AI to figure out consumer spending habits so it can then provide more personalized financial advice, like maximizing rewards and utilizing credit effectively.

Kudos lands $10M for an AI smart wallet that picks the best credit card for purchases

The EU’s warning comes after Microsoft failed to respond to a legally binding request for information that focused on its generative AI tools.

EU warns Microsoft it could be fined billions over missing GenAI risk info

The prospects for troubled banking-as-a-service startup Synapse have gone from bad to worse this week after a United States Trustee filed an emergency motion on Wednesday.  The trustee is asking…

A US Trustee wants troubled fintech Synapse to be liquidated via Chapter 7 bankruptcy, cites ‘gross mismanagement’

U.K.-based Seraphim Space is spinning up its 13th accelerator program, with nine participating companies working on a range of tech from propulsion to in-space manufacturing and space situational awareness. The…

Seraphim’s latest space accelerator welcomes nine companies

OpenAI has reached a deal with Reddit to use the social news site’s data for training AI models. In a blog post on OpenAI’s press relations site, the company said…

OpenAI inks deal to train AI on Reddit data

X users will now be able to discover posts from new Communities that are trending directly from an Explore tab within the section.

X pushes more users to Communities

For Mark Zuckerberg’s 40th birthday, his wife got him a photoshoot. Zuckerberg gives the camera a sly smile as he sits amid a carefully crafted re-creation of his childhood bedroom.…

Mark Zuckerberg’s makeover: Midlife crisis or carefully crafted rebrand?