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Seedcamp raises £41 million

The London-based firm will continue to target pan-European startups.

Seedcamp held a first close at £41 million for its fourth flagship venture fund.

Seedcamp Fund IV will continue the firm’s pan-European focus, making seed investments in European startups across a variety of sectors. The fund, which has a target size of £50 million, will lead seed rounds of up to £2 million through check sizes of £100 thousand to £400 thousand, according to Seedcamp’s press release.

Investors in Fund IV include Investec, Unilever and MassMutual Ventures.

The total raised so far has surpassed the size of the London-based firm’s predecessor vehicle, Seedcamp 2.0, which raised £28 million in 2014.