Overview

• Plural, a European venture capital firm founded by the creators of Wise, Skype and Songkick, has raised $436.4 million for its second fund, aiming to back technology startups in Europe.
• The fund, which exceeded its fundraising target, was raised from a mix of limited partners, including British and American university endowments, U.S. foundations and insurers, and strategic family offices in Europe and the United States.
• Plural plans to invest in two to three investments per investor per year with its new fund, focusing on early-stage startups rather than growth rounds.
• The firm has made 27 investments in total, with its largest sectors by investment being AI (31%), frontier technology (16%), and climate and energy (14%).
• Plural aims to build technology giants in Europe, focusing on deep tech and clean tech, and identifying winners in emerging categories that other funds may tend to ignore.