Seedcamp raises $320m for new fund to expand its us footprint

At a glance:

• Seedcamp closes $320 million for Fund VII, its largest fund to date
• $220 million earmarked for early‑stage deals, $100 million for growth‑stage follow‑ons via the new Select fund
• The firm will grow its New York and Miami teams to link European portfolio companies with U.S. markets

Fund VII details and allocation

Seedcamp announced on Monday that it has raised $320 million for its seventh flagship fund, a dramatic increase from the $180 million raised for Fund VI in 2023. The capital is split into two distinct vehicles: Seedcamp VII, a $220 million early‑stage pool, and Select, a $100 million growth‑stage fund designed for follow‑on investments. The early‑stage vehicle plans to write roughly $1 million as a first check into 100‑120 startups, while Select will target $3‑5 million per check in later‑stage rounds, typically Series B and beyond.

Expanding the US presence

Although Seedcamp already maintains offices in New York City and Miami, the new capital will fund a broader U.S. hiring push. Co‑founder and managing partner Reshma Sohoni explained that the firm wants to “plug founders to nodes that are connective,” linking its European portfolio to U.S. customers, investors, and the revitalised Silicon Valley ecosystem. The expansion aims to capitalize on the renewed gravity of San Francisco and the broader Bay Area as a hub for later‑stage financing.

Investment thesis and portfolio track record

Seedcamp’s thesis remains focused on being among the first investors in nascent startups—whether they are pre‑product, pre‑revenue, or even pre‑traction. The firm leverages its deep network of founders and limited partners to source deal flow. Historically, Seedcamp has backed a roster of high‑profile companies, including:

• Fluidstack
• Hopin
• Pleo
• Revolut
• Synthesia
• UiPath
• Wise These investments have helped Seedcamp amass 12 unicorns among more than 550 companies and $1 billion in assets under management.

Limited partners backing the fund

The limited‑partner roster for Fund VII includes a mix of institutional investors and founder‑angels. Notable LPs are:

• British Business Bank
• HarbourVest
• Schroders
• Sofina In addition, 80 founders from Seedcamp’s own portfolio have contributed as angel investors, underscoring the firm’s community‑driven approach to capital raising.

Sector focus and exclusions

While Seedcamp will continue to invest across a broad range of sectors, Sohoni noted a deliberate avoidance of capital‑intensive businesses such as mobility platforms and traditional marketplaces. “We tend to avoid capital‑intensive startups because funding working capital isn’t a great model on day one… We’re definitely a commercial‑driven investor,” she said. This stance reflects a preference for businesses that can achieve early profitability or strong unit economics without massive upfront spend.

Outlook and what’s next

With the fund now closed, Seedcamp’s immediate priority is to deploy capital quickly, especially in the United States where the firm sees a surge of cross‑border opportunities. The dual‑track structure—early‑stage Seedcamp VII and growth‑stage Select—gives the firm flexibility to stay involved as portfolio companies scale. Observers will watch how the expanded U.S. team translates into deal flow, and whether the firm can replicate its European success in the highly competitive American market.