Creandum raises US$750 million for eighth fund
The Sweden-founded venture investor has opened a San Francisco office, with founder Staffan Helgesson arguing that the location strengthens its European investing.
Creandum has announced the closing of Fund VIII at US$750 million, describing it as its biggest fund so far. The venture capital firm also opened an office in San Francisco, where it has had a presence since 2012.
Founder Staffan Helgesson said being based in the US city helped the firm support portfolio companies and compete for European investments. He argued that seeing developments there made Creandum more attractive to founders and better informed as an investor.
Helgesson said the firm could conduct due diligence across the Atlantic and, sometimes, engage with founders in both locations during fundraising. Its other offices are in Stockholm, Berlin and London.
Although operating across several locations brought challenges, Helgesson said execution mattered more than the organisational model. He also said Creandum would not compromise on the quality of entrepreneurs to invest in a sector it considered exciting.
The firm's preceding fund, Fund VII, was €500 million. Creandum's investments include Spotify, Lovable, Black Forest Labs, Klarna and UK chip startup Olix.
