Schroders has closed a $600m fund to invest in VC funds, startups and secondaries, as the multinational British investment bank doubles down on the GenAI opportunity.
The close comes months on from Schroders completing a first $500m close on a fund for early-stage UK companies, from which it’s backed AI avatar startup Synthesia and legaltech Luminance.
Schroders new fund will invest across all stages, sectors and regions with a focus on businesses “set to capitalise on the transformative potential of generative AI”, the company said in the statement.
“Disruptive innovation is occurring at pace and on a global scale, bringing compelling opportunities for investors,” said Steven Yang, head of innovation at Schroders Capital.
“Against this backdrop, we have seen increasing interest in venture exposure within sectors exhibiting strong innovation potential, with technology, artificial intelligence and biopharma at the forefront.”
Schroders recently poached Molten Ventures’ investor Dave Neumann, who joined the company in April and announced on LinkedIn he’d be working on direct investments at Series B and beyond, LP tickets for seed and Series A funds and secondaries for funds and companies.
Schroders provides a broad range of investment strategies and has $99bn assets under management.
The VC industry in Europe has seen a flurry of activity behind the scenes in recent months, with Atomico selling part of its portfolio and secretive VC firm Hedosophia raising more than $200m for a new secondaries fund.
Read the orginal article: https://sifted.eu/articles/schroders-new-600m-fund/
