Creandum raises $750m for its eighth and largest venture fund
Creandum’s reported €668 million Fund VIII will target pre-seed to Series A startups, with about 30 investments planned over two years.
By Dominic Okoye · Staff Writer
· 3 min read
Creandum has raised a reported $750 million for Fund VIII, its eighth and largest vehicle, to invest in technology startups from pre-seed through Series A. The Creandum $750m fund is a generalist early-stage pool rather than an AI-only vehicle, although the firm expects artificial intelligence to account for much of the opportunity, according to Dealroom.
The Stockholm-based firm plans to make about 30 investments in the next two years, Bloomberg reported, citing partner Fredrik Cassel. Dealroom reported that the €668 million fund will divide its capital evenly between new investments and follow-on rounds, reserving a substantial share for companies already in its portfolio.
The fundraise arrives as early-stage AI rounds have grown larger, Sifted reported. That backdrop helps explain Creandum’s interest in the category, but the reported mandate remains broader than AI.
What will Creandum’s $750m fund invest in?
Fund VIII is intended for pre-seed through Series A technology companies. Those stages cover companies ranging from the earliest institutional rounds through businesses preparing to scale after initial validation. For more on the distinction, see Seed vs. Series A funding.
Creandum has previously backed Spotify and Klarna, and more recently invested in AI coding company Lovable and AI model maker Black Forest Labs, according to Seeking Alpha’s report of the fundraising. The firm has also invested in AI cloud startup Modal, accounting software company Rillet and Emulate, a world-models startup founded by three former Google DeepMind employees, the report said.
Cassel told Bloomberg that investors should look beyond large-language-model developers as companies consider open-source technology from Europe and China. That is an investment view relayed in the reporting, not a stated requirement for Fund VIII’s portfolio.
How does Fund VIII compare with Creandum’s prior fund?
Creandum’s prior fund was €500 million and closed in 2024, according to Dealroom and Seeking Alpha. Dealroom described Fund VIII as roughly one-third larger. The new fund is reported to have commitments from about 30 institutional investors in Europe and the US, including university endowments, pension funds and charitable foundations, and to be closed to new investors.
The firm is also extending its operating reach beyond Europe. Creandum has reportedly tripled its San Francisco team during the past two years, with the stated aim of working with US founders and helping European portfolio companies expand into the US, Dealroom reported.
The reported investment count and new-versus-follow-on allocation clarify the broad deployment plan, but do not establish the size of an initial cheque or the number of new companies the fund will back. For operators seeking capital, the practical signal is a larger pool that is intended to support both new early-stage bets and subsequent financings.
This story draws on original reporting from Sifted.
