20VC, the London-based venture capital firm led by Harry Stebbings, has successfully closed its third fund, raising an impressive over €360 million. This new fund is split into two key parts: €114.7 million for Seed investments and $252.3 million for Series A funding.
This latest round marks a 2.5x increase from 20VC’s second fund, which raised $140 million in June 2021. The announcement comes at a time when many firms are facing challenges in fundraising. Key investors include MIT Investment Management Company, Horsley Bridge, and Rothschild-backed RIT Capital Partners.
Harry Stebbings, 20VC’s Founder and Managing Partner, said: “We are here to build a generational-defining firm. Raising $400 million from the calibre of investors that we have is a testament to their belief in us and to our model working. It’s time to put our heads down and work harder than ever.”
20VC’s core differentiation is its unique structure, which includes three distinct sub-funds: 20Sales, 20Growth, and 20Product. Each sub-fund comprises highly experienced operators, not investors, who deliver unique value to the portfolio companies. Comprised of 24 of the best operators in their fields, these sub-funds work together as a reliable and repeatable machine – to find, pick and win the best companies.
A distinctive approach to venture capital
20Sales, an all-female team of sales professionals, includes go-to-market leaders from companies like Notion, OpenAI, and Vanta. 20Growth features seasoned executives from high-growth companies such as DoorDash, Dropbox, Shopify, and Pinterest, while 20Product includes product and technology veterans from renowned firms like LinkedIn, Nubank, Snapchat, and Spotify.
The firm’s growth isn’t limited to its investment activities. Through its media platform, 20VC has reached over 150 million downloads, with Harry Stebbings having conducted more than 2,750 interviews with some of the most influential CEOs and founders in the tech world. Notable guests include Sam Altman of OpenAI, Salesforce’s Marc Benioff, Daniel Ek of Spotify, and LinkedIn’s Reid Hoffman.
20VC’s portfolio is also impressive, with founders from companies like Atlassian, Canva, Capital One, Datadog, Deliveroo, and Vinted, among many others. General partners from leading venture firms such as Accel, Benchmark, Coatue, and Founders Fund have also participated in the new fund.
Josh Kushner, Founder of Thrive Capital, said: “Harry is an exceptional partner to entrepreneurs and an important figure in promoting important ideas in the technology ecosystem.
Ryan Akkina, Global Investment Team, MIT Investment Management Company, said: “The combination of the 20VC media company and sub-fund structure is truly unique. Harry is building one of the highest potential next-generation venture brands, and we are thrilled to back 20VC.”
Read the orginal article: https://www.eu-startups.com/2024/10/london-based-investment-firm-20vc-raises-its-third-fund-sized-at-over-e360-million/
