Atomico, a London-based venture capital firm that has backed fintech companies like Stripe and Klarna, has raised $1.24 billion across two new funds—including its first dedicated growth capital arm—to address the shortage of late-stage technology financing in Europe. Despite a challenging fundraising environment and falling short of its initial $1.35 billion target, the new funds are 50% larger than Atomico’s previous fund. Atomico plans to focus on startups applying AI to specific solutions, such as Germany’s DeepL and Denmark’s Corti, rather than investing in highly valued general AI model competitors, viewing the current climate as an opportunity for companies to shift towards sustainable growth despite some past portfolio setbacks.
Klarna-Backer Atomico Raises $1.24 Billion to Spur Startup Growth in Europe
