European VC Atomico closes $1.24B across two funds for early- and growth-stage startups ➿➿➿➿➿➿➿➿➿➿➿➿ Atomico, a prominent European venture capital firm, has raised $1.24 billion across two funds, marking its largest fundraising effort to date.✅ 👉The amounts include $485 million for "Atomico Venture VI," primarily targeting Series A-stage companies, with some allocated for seed funding, and $754 million for "Atomico Growth VI," aimed at Series B to pre-IPO stages. This separation into distinct funds reflects Atomico’s shift towards focusing equally on later-stage investments, addressing hesitance among investors towards early-stage, pre-profit startups. The fundraising occurs amidst a downturn in global venture capital, with European startup funding halving in 2023 due to geopolitical events, inflation, and rising interest rates. 👉Atomico's annual reports indicate that despite the downturn, European VC funding remained slightly above pre-pandemic levels, suggesting potential stability in the tech market. Other VC firms in Europe are also raising significant funds, such as Accel’s $650 million for early-stage startups and Balderton’s $1.3 billion across two funds for various stages. #venture #venturecapital #investments