Funds

Five funds since 2012, each raised from the same small group of foundations, endowments and families, and each run by the partners who raised it.

: committed capital
: funds since 2012
: companies backed
: exits

By fund

Fund	Vintage	Size	Companies	Exits	Status	TVPI	DPI	Net IRR
Fund I Seed, Europe	2012	$85M	24	14	Fully realised	4.8x	4.6x	27%
Fund II Seed and Series A, Europe	2015	$180M	29	11	Harvesting	3.9x	2.1x	24%
Fund III Seed and Series A, Europe and North America	2018	$320M	31	6	Harvesting	2.6x	0.7x	22%
Fund IV Seed and Series A, Europe and North America	2021	$480M	34	2	Fully invested	1.4x	0.1x	–
Fund V Seed and Series A, Europe and North America	2025	$650M	9	0	Investing	–	–	–
Total		$1.7B	127	33

As of 30 June 2026. Figures are illustrative and unaudited, shown net of fees, expenses and carried interest, as of the date above. TVPI is total value to paid-in capital and DPI is distributions to paid-in capital. Past performance is not a guide to future results, and nothing on this page is an offer to sell or a solicitation of an offer to buy an interest in any fund.