Jan 31, 2022 - Economy

468 Capital raises $400 million to back European startups

Kia Kokalitcheva

Illustration of pile of money with hovering cursor — Illustration: Eniola Odetunde/Axios

VC firm 468 Capital has raised $400 million for its second seed-stage fund focused on European startups, and American ones with a connection to Europe.

Why it matters: The past year has been a record year for the European startup market, even attracting unprecedented levels of American venture capital.

It previously raised about $200 million (€170 million) for its first fund in mid-2020.

The firm is led by D2iQ co-founder Florian Leibert, former Global Founders Capital managing partner (and Rocket Internet board member) Alexander Kudlich, and former GFC partner Ludwig Ensthaler.

Given the partners' respective backgrounds, 468 is investing both in consumer services like ultra-fast delivery and e-commerce aggregators, as well as in business software and cloud infrastructure tech.
It also recently formed a second SPAC, which is listed on the Frankfurt Stock Exchange and raised $250 million in IPO proceeds. Its first one acquired kids' entertainment company Boxine.

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468 Capital raises $400 million to back European startups

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