Swedish venture capital firm Creandum has closed its eighth fund, securing €668 million. This marks a significant increase from the firm's inaugural €40 million fund launched in 2003. The new capital represents a one-third growth compared to the firm's seventh fund, which closed at €500 million in June 2024.
The fund is designated for approximately 30 early-stage startups, ranging from pre-seed to Series A. Creandum plans to split the capital equally between new investments and follow-on funding. The firm is now closed to new investors, having secured backing from various institutional entities across the United States and Europe.
Creandum is expanding its physical footprint with a new office in San Francisco to complement its existing locations in Stockholm, London, and Berlin. The firm notes that one in six of its early-stage investments has reached a valuation of $1 billion or more, citing portfolio companies such as Lovable, Black Forest Labs, Modal, and Rillet.
The firm's recent activity includes leading a $15 million pre-Series A round for Lovable in February 2025 and co-leading a $13.5 million seed round for Rillet in 2024. According to data from KPMG and PitchBook, Creandum's new fund accounts for approximately 5% of the total $14.9 billion raised by European venture funds through September.
