Europe

Lakestar's fourth early-stage fund, which was seeking €250m, closed on €280m, while its second growth vehicle closed on €320m after targeting €750m.

A surge of investment in climate- and sustainability-focused companies in Europe has swelled the ranks of tech and non-tech workers eager to join such companies, while rising quality of life considerations are influencing where people choose to work.

With more than 25% of total capital invested in European tech companies going to the carbon and energy sector, sustainability-focused start-ups have attracted tech workers from other parts of the world.

Firm founder Jason Howard says New Catalyst Strategic Partners plans to initially do seven to 10 deals, with investments between $60 million and $75 million or more.

An extended timeline to liquidity means LPs will be more careful about which GPs they continue to allocate to in 2024.

Without additional deep tech growth capital, Europe risks standing on the sidelines as other countries harvest its fruits of innovation, writes Krish Ramadurai of Harmonix Fund.

Investors in Fund II include AXA Venture Partners, BPI France, Mubadala Investment Company and Ontario Teachers’ Pension Plan.

The London-based firm raised $190m for its second flagship fund, which will target late-stage investments in B2B SaaS companies.