Funds
Five funds since 2012, each raised from the same small group of foundations, endowments and families, and each run by the partners who raised it.
- committed capital
- $1.7B
- funds since 2012
- 5
- companies backed
- 127
- exits
- 33
By fund
| Fund | Vintage | Size | Companies | Exits | Status | TVPI | DPI | Net IRR |
|---|---|---|---|---|---|---|---|---|
| Fund ISeed, Europe | 2012 | $85M | 24 | 14 | Fully realised | 4.8x | 4.6x | 27% |
| Fund IISeed and Series A, Europe | 2015 | $180M | 29 | 11 | Harvesting | 3.9x | 2.1x | 24% |
| Fund IIISeed and Series A, Europe and North America | 2018 | $320M | 31 | 6 | Harvesting | 2.6x | 0.7x | 22% |
| Fund IVSeed and Series A, Europe and North America | 2021 | $480M | 34 | 2 | Fully invested | 1.4x | 0.1x | – |
| Fund VSeed and Series A, Europe and North America | 2025 | $650M | 9 | 0 | Investing | – | – | – |
| Total | $1.7B | 127 | 33 | |||||
As of 30 June 2026. Figures are illustrative and unaudited, shown net of fees, expenses and carried interest, as of the date above. TVPI is total value to paid-in capital and DPI is distributions to paid-in capital. Past performance is not a guide to future results, and nothing on this page is an offer to sell or a solicitation of an offer to buy an interest in any fund.
Photo: Altaf Shah / Pexels
The portfolio, by the numbers
Counted from the 24 companies in the portfolio directory, by the round of our first investment and the sector they work in.
Realised
- HealthAcquired by Calder HealthFund III2025
- ClimateIPO, Oslo BørsFund II2024
- InfrastructureAcquired by PalisadeFund II2023
- SoftwareIPO, NYSEFund II2022
- HealthAcquired by Halvard MedicalFund II2021
- IndustrialsIPO, NasdaqFund I2021
- InfrastructureAcquired by Cobalt SystemsFund I2020
- FintechAcquired by Meridian BankFund I2019