Skype’s co-founder’s VC agency Atomico closes in on $1.2 billion fund

LONDON — Atomico, the London-based enterprise capital agency arrange and led by Skype co-founder Niklas Zennstrom, is near asserting a brand new start-up fund value round $1.2 billion, in accordance with trade sources accustomed to the matter.

The funding firm has virtually completed elevating an “early-stage” fund of round $400 million to again younger start-ups, two enterprise capitalists who didn’t want to be named because of the delicate nature of the discussions advised CNBC.

They added that Atomico can also be engaged on a “late-stage” fund of round $800 million to again extra established start-ups that require bigger quantities of capital to proceed rising.

Atomico didn’t reply to a CNBC request for remark.

A 3rd CNBC supply, a start-up government who additionally didn’t want to be named because of the nature of the discussions, advised CNBC that Atomico knowledgeable his firm that it’s within the strategy of elevating extra capital from restricted companions.

A number of different VC sources, who weren’t conscious of any particular fundraising plans, mentioned it would not shock them if Atomico introduced a brand new fund quickly. “I feel just about the world and his canine is elevating proper now,” one mentioned.

One other added: “(It) would not be a shock. Competitors is brutal in VC world.”

It is unclear how far more capital Atomico wants to lift for every of the funds and when the funds shall be formally introduced.

Atomico, which is headquartered in Mayfair, has raised 5 funds so far. The final one was an $820 million fund that was introduced in February 2020.

It has used its earlier funds to again a number of the world’s Most worthy start-ups together with fintech titans Stripe and Klarna. Different investments embody flying automobile start-up Lilium and synthetic intelligence chip designer Graphcore.

The amount of cash flowing into European start-ups has continued to rise over the past decade and plenty of huge U.S. VC corporations together with Sequoia Capital and Bessemer Enterprise Companions have arrange bases in London to make sure they do not miss out on offers.

A number of of Atomico’s rivals have additionally introduced vital funds within the final 12 months and new VC corporations are additionally being created.

On Wednesday, rival agency Balderton Capital, which can also be based mostly in London, introduced a $600 million early-stage funding on Wednesday, whereas Sofinnova Companions introduced it has raised 150 million euros ($169 million) in capital for its early-stage environmental influence fund.