Revolut and Darktrace backer Balderton Capital has secured $1.3bn (£1bn) across two new investment funds.
Balderton raised $615m for its Early Stage Fund IX and $685m for its second Growth Fund. Between the two funds, Balderton will invest in firms from the seed stage through to initial public offerings (IPO).
The announcement marks the first duel raise from the venture capital firm for its early and growth stage funds.
“At Balderton, we believe the best way to change the world is to build a business – and that many of these world-changing businesses will be built in Europe,” said Bernard Liautaud, managing partner at Balderton.
“As a firm, our mission is simple: to be the partner of choice to the founders starting and growing those European technology companies. These new funds put us in a position to do just that.”
Founded in 2000, Balderton has backed almost 300 tech firms in Europe, including GoCardless, Wayve and Depop.
“The government wants the UK to be the best place in the world to start and grow a business,” said Growth Minister Lord Livermore.
“In particular, the UK needs to be better at supporting British scaleups which is why investment from Balderton Capital is crucial in driving their success, starting from seed stage all the way to full IPO.”
Investors in Balderton’s new funds include British Patient Capital – a subsidiary of the UK government-owned British Business Bank.
British Patient Capital provided a $90m commitment across the funds, with $25m going into the early-stage fund and $65m for the growth stage.
“We know that entrepreneurs in the UK and Europe have the talent and ambition to produce globally competitive companies,” said British Patient Capital investment director for funds Robert Greenwood.
“To build the next generation of global leaders, companies need partners that can support them through every stage of growth.”
Recent funding rounds led by Balderton include the £44m Series B round for carbon data platform Sylvera and edtech startup Grasp’s £3.1m round.
