HomeEstoniaPlural Launches Second €400M Early-Stage Fund

Plural Launches Second €400M Early-Stage Fund

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Plural, a London, UK and Tallinn, Estonia-based early-stage investment firm set up by founders and operators, is launching its second €400M early-stage fund. 

The capital was raised 18 months after the debut fund. Since inception, Plural has invested in 26 companies in six countries across Denmark, Estonia, Germany, the Netherlands, the UK and US. Its largest sectors by investment are AI (31%), frontier tech (16%) and climate & energy (14%).

Backed companies include RobinAI, UnitaryAI, Field, Isometric, Proxima Fusion, VSParticle, Sano Genetics, and Teton, among others.

The new fund accelerates Plural mission to have GDP-level impact on Europe, address systemic risks and reduce the opportunity gap worldwide through the companies it backs. The fund’s investment cheques range from €1m to €15m.

The investment team includes Taavet Hinrikus (Wise), Ian Hogarth (Songkick), Sten Tamkivi (Teleport), Carina Namih (HelixNano) and Khaled Helioui (Bigpoint). The are supported by a platform scaling team, which now comprises seasoned operators with deep industry experience, who provide support to portfolio founders across a range of functions, including legal, fundraising, marketing and product.

Commenting on the close of the new vehicle, Carina Namih, Partner, said: “When we launched Plural 18 months ago, we knew that European founders were being underserved by a lack of operators turned investors but even we couldn’t have predicted so much appetite for a different approach. We’re galvanised by the trust founders have placed in us to support them on their journeys tackling serious problems from developing clean energy that will save the planet to making the internet safer. With Fund II, we want to take this new model of investing even deeper into the European ecosystem, where startup creation continues to outpace the US, providing a huge opportunity that we have a responsibility to maximise.” 

Taavet Hinrikus added: We know that significant technology is being built across Europe – more than 40% of European tech investment in the past year has gone into frontier and deep tech. Founders tackling major world problems through technology are exactly the types of companies we are backing at Plural. By supporting the most ambitious founders with our hard-won experience, we’re determined to build enduring global companies that will have a GDP-level impact and be transformative for economies and society.

VCWire

23/01/2024