London venture capital investor Blossom Capital raises $432 million

·2 min read
Blossom Capital founder Ophelia Brown, center, with managing partners Alex Lim, left, and Imran Ghory (Blossom Capital)
Blossom Capital founder Ophelia Brown, center, with managing partners Alex Lim, left, and Imran Ghory (Blossom Capital)

Blossom Capital, one of the few female-led venture capital firms in London, has raised a new pot of money to invest in early-stage tech businesses.

Blossom, founded in 2017 in London by former Index Ventures and LocalGlobe investor Ophelia Brown, has raised its third fund, pulling in $432 million (£316 million) from investors. It claims to be Europe’s largest dedicated “Series A” fund, meaning it only backs companies at the point they first raise institutional investment.

Brown said: “With this new fund we are continuing with our high-conviction strategy of providing foundational capital to entrepreneurs, so their Series A creates an undeniable strategic advantage.”

The raise takes Blossom’s total assets since founding to over $1 billion. It has backed startups including Checkout.com, which was recently valued at $40 billion, Pigment, Duffel and Tines.

The new fund will target crypto companies, which Blossom said reflects “the evolution of crypto from a niche financial tool to a mainstream asset class.” The firm’s first investment in the space, MoonPay, recently went on to raise $555 million.

Alex Lim, a managing partner who recently joined the firm, said: “Fund III is the latest step in our mission to support a new generation of world-beating companies from Europe. Founders need more than just capital from an investor at the early stage; they need partners who go above and beyond to make them successful.

“We have built a diverse partnership and tailored services offering, and are constantly pushing ourselves to provide ever-higher levels of service to European founders. We are excited to partner with more founders who share our ambition for Europe as a global technology hub.”

Blossom claims to use artificial intelligence to help it source investments and says it finds around a third of companies that way.

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