Creandum closes $750M Fund VIII, its largest ever, for seed and Series A

Strong AI focus

The fund is likely to invest heavily in artificial intelligence. Creandum's current portfolio already includes AI companies such as Lovable, Olix, Modal and Black Forest Labs. The firm said it raised the money from "multiple elite US and European institutional investors".

A bigger presence in San Francisco

Creandum has had a presence in San Francisco since 2012 and has now opened a new office there. US staff will work alongside colleagues in Stockholm, London and Berlin, which the firm says gives founders a single partner across Europe and the US.

The move reflects what Creandum describes as a one-directional flow of capital between the two markets: roughly half of all money invested in European tech over the last year came from the US, while very little US tech funding came from Europe. As US venture firms increasingly compete for deals in Europe, Creandum says it is expanding in San Francisco while continuing to back founders across Europe.

Staffan Helgesson, founder and partner, said that after nearly 25 years in venture, one belief has only grown stronger: "it's the founders you back that matter most." He said Fund VIII stays focused on finding the boldest and most ambitious early-stage founders in Europe, and increasingly in the US, and being the first to back them. He credited that approach for investments such as Lovable, Spotify, Modal, Black Forest Labs and Rillet.

For European startups, a larger fund from a locally rooted investor adds fresh early-stage capital at a time when American firms are bidding for the same deals.