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Klaus Hommels launches $400m fund for startup investment

Lakestar, the venture capital firm led by Klaus Hommels, an early backer of Skype, Facebook and King.com, has raised a $400m fund to invest in tech startups.

The Zurich-based firms Lakestar II, which is said to be the single largest fund in Continental Europe, follows on from Lakestar I, which raised €135m in 2013, and will be investing in startups across Europe and the US.

Hommels said: “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. To date we have invested in some of the world’s biggest start-ups. We plan to continue to do this, in Europe and the US.”

This funding sees Lakestar join the select group of VC’s with such heavyweight funds – such as Index Ventures and Accel Partners.

Operating in Berlin, Zurich and New York, Lakestar is hoping to help bridge the gap between the countries for investors and startups.

The fund will focus on early stage investments, such as seed funding and Series A rounds between $500,000 and $50m but will also be looking to make follow up investments.

 

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