BERLIN (Reuters) – Venture capital firm Index Ventures said on Thursday it had raised $2 billion for growth investments, backing entrepreneurs it reckons will lead the way out of the economic slump caused by the coronavirus pandemic.
Of the bumper fundraising round, $800 million will be invested by its Index Ventures 10 fund and $1.2 billion by Index Growth 5.
Index Ventures, which is based in San Francisco and London, focuses chiefly on early-stage investments. Seven out of 10 of its bets are Series A or earlier.
“Innovation is often born out of adversity,” partner Jan Hammer said in a statement. “We take the long view and remain committed to investing in ambitious entrepreneurs at this unprecedented time.”
Index Ventures, which focuses mainly on Europe and North America, has floated nine portfolio companies over the past two years including Dutch payments company Adyen (ADYEN.AS), data analytics platform Datadog Inc (DDOG.O) and online collaboration tool Slack (WORK.N).
Reporting by Douglas Busvine; Editing by Michelle Martin