Early conviction, held for the long run.
We lead seed and Series A rounds for technical founders in Europe and North America, and stay with them through every round that follows.
A small partnership, built for the long climb.
Six partners, one fund at a time, and a handful of new companies a year, so every founder works with the person who made the decision to back them.
$1.7B
under management
127
companies backed
33
exits
2012
first fund
Selected companies
Where we invest
Six sectors where a technical team with a head start can build something that lasts.
Fintech
Payments, lending, insurance and the back office of money.
5 companies
Climate
Storage, materials and the software that runs a cleaner grid.
5 companies
Health
Diagnostics, clinical operations and care outside the hospital.
4 companies
Infrastructure
Data, security and the platforms developers build on.
4 companies
Software
Tools that change how teams plan, decide and get work done.
3 companies
Industrials
Robotics, manufacturing and the physical supply chain.
3 companies
Five funds, one approach
Each fund is raised from the same small group of foundations, endowments and families, and run by the partners who raised it.
$1.7B
committed across 5 funds since 2012
Fund statistics
Fund I
2012
$85M
Fund II
2015
$180M
Fund III
2018
$320M
Fund IV
2021
$480M
Fund V
2025
$650M
