Seedcamp raises £78M for its fifth fund

European pre-seed and seed-stage VC Seedcamp has reached £78 million in the first and final close of its fifth fund, Seedcamp V, its largest to date.

The round was backed by investors including British Patient Capital, Legal & General, TIFF, LGT, Vintage IP, Isomer Capital and OMERS. VC backers include Index, Sequoia, Underscore VC, Northzone, Atomico and Draper Esprit. Angel backers include Taavet Hinrikus (TransferWise), Daniel Dines (UiPath), David Helgason (Nordic Makers/Unity) and Shakil Khan (Spotify).

The new fund comes three years on from the close of Fund IV, at £60 million, and this new fund increases the amount of capital it will invest in pre-seed and seed-stage companies, as well as reserving capital for follow-on rounds up to Series B.

Seedcamp backed Hopin, the virtual conferences platform which made hay during the pandemic and recently raised $125 million, giving it a $2 billion valuation.