Venture capital firm Plural has secured its second fund, amounting to €400 million, just 18 months after launching its initial fund of €250 million.
- Plural is known as a VC launched and led by former startup founders and Europe’s active angel investors. Its founding team includes Wise’s Taavet Hinrikus, Ian Hogarth, the founder of Songkick, Sten Tamkivi, and Khaled Helioui.
- Plural was launched in June 2022 as a €250 million fund, investing in early-stage startups. Its LPs included US and UK university endowments, US foundations and insurers, strategic family offices from Europe and the US, and global VC fund offunds. This time, all institutional investors have reinvested, with the majority increasing the funding, Sifted reports.
- The new fund will continue the strategy it has chosen from the beginning — each partner makes two investments into early-stage European companies per year, with checks ranging from €1-15 million. In 2023, HelixNano founder and scientist Carina Namih joined Plural, making it a fund of five partners.
- The fund has already invested in 26 companies across 6 countries, including Denmark, Estonia, Germany, the Netherlands, the UK, and the US during its 18 months of operations. Legaltech Robin AI, visual content moderation platform Unitary, power plant startup Proxima Fusion, and AI nursing assistant Teton are on the list.
“There’s never been a better time to invest in European founders. There’s a density of repeat founders now ready to tackle really important problems — from access to education and finance to sovereignty of energy,” Khaled Helioui ensured Sifted.
- Plural’s main ambitious goal set out in 2022 also remains the same: to have a GDP-level impact in Europe.
