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Early stage investment fund Plural, based in Tallinn, Estonia and London, UK, announced on January 23 a new €400 million fund to support European technology entrepreneurs.
Founded in June 2022, Plural aims to match European startup entrepreneurs with investors who are also founders.
“Only 8% of European venture capitalists have ever founded a company, but founders building demanding businesses are better served by investors with first-hand experience.” Plural said in a statement.
Plural’s investor team includes Estonian Taavet Hinrikus, co-founder of Wise, and serial entrepreneur Sten Tamkivi. The team also includes Karina Nami, Ian Hogarth and Khaled Helioui. The 15-person Plural team is based in Tallinn, Estonia and London, UK.
Vital technology built across Europe
Since its founding, Plural has invested in 26 companies in six countries: Denmark, Estonia, Germany, the Netherlands, the United Kingdom, and the United States. The largest sectors in terms of investment are AI (31%), frontier technologies (16%), and climate and energy (14%).
Plural said the latest fund “exceeded its goals and attracted participation from some of the world’s most prestigious university endowments, foundations and family offices.”
Karina Nami, a partner at Plural, said the fund wants to take its investment model “deeper into the European ecosystem, where startup creation continues to outpace the US.”
Taavet Hinrichs said it’s a plural company whose founders are tackling the world’s biggest problems through technology. “By supporting the most ambitious founders with our hard-won experience, we are determined to build lasting global companies that have GDP-level impact and transform economies and societies,” he said in a statement. ” he said.
He added that “significant technology” is being built across Europe. More than 40% of European technology investment last year went into frontier and deep technologies, Hinrichs said. Cutting-edge technologies are emerging at the intersection of scientific breakthroughs and real-world implementation, including artificial intelligence, big data, the metaverse, and bioprinting.
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