Austrian Fund With Fresh Cash Wants to Be BlackRock of Startups
- Speedinvest raises €500m seed fund despite market turmoil
- Cash prompts ambitions to scale operations, deepen team focus
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An Austrian investor specializing in early-stage startups wants to model itself after the world’s largest money manager, BlackRock Inc., after raising one of Europe’s largest dedicated funds.
Vienna-based Speedinvest GmbH closed a fourth funding round with €500 million ($528 million) for so-called seed and pre-seed investments. The cash haul is the sixth largest this year among its peer group of European venture capitalists, that typically target later-stage investments, according to PitchBook data. It raises the company’s managed assets to more than €1 billion.