Creandum just closed a $750M fund.
It is the largest in the firm's 25-year history, and about 17x the size of its first one.
€668M ($750M) for Fund VIII, up from €500M in 2024
Around 30 new startups from pre-seed to Series A, with half the money kept for follow-on rounds
A new San Francisco office, after tripling the US team in a year
One in six of its early-stage investments is now worth $1B or more
Who they are?
Creandum is the Stockholm firm that backed Spotify, iZettle, Trade Republic and Lovable before almost anyone else. Staffan Helgesson started it in 2003 with €40M from two Swedish pension funds and no track record.
At Slush, we sat down with Staffan for 45 minutes. He told us how Creandum won Lovable over a lunch, why its term sheet was the only one Trade Republic got, and the one question he asks before backing any founder.
📚 In this newsletter, we break down how Creandum built one of Europe's best venture firms from nothing, and what founders and investors can take from it!
High-signal analysis on markets, capital and the companies shaping the next decade
Inside you will find:
How Creandum Went From Raising Zero to a $750M Fund
See how a firm with no track record survived its first ten years and turned Spotify into a franchise.How They Won Lovable With a Term Sheet at Lunch
Find out what happened in the 24 hours after Lovable launched, and why speed now decides who gets in.Why Their Best Deals Looked Uninvestable
Learn how Creandum backed Spotify before the music labels signed and fixed Trade Republic’s broken cap table.The Question Creandum Asks Before Backing Any Founder
See the three things Creandum looks for, and the SoundCloud mistake that changed how it picks.Why They Opened in San Francisco Before London
Find out how a firm from the edge of Europe made itself credible in Berlin and London by going to the US first.How to Build a VC Firm That Outlives Its Founder
Learn the partnership rules Creandum borrowed from Benchmark and McKinsey, and the four ways to build a firm.
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