Venture Capital

Atomico

Atomico is a leading European venture capital firm founded in 2006 by Niklas Zennström, the co-founder of Skype. Headquartered in London with roots in Stockholm, Atomico focuses on backing ambitious tech founders across Europe at Series A and beyond.

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The firm manages several billion dollars across multiple funds and has built a portfolio of household names. Atomico’s approach leverages Zennström’s global experience – the firm often helps startups expand internationally and recruits senior talent via its notable “Executive-in-Residence” program. Atomico has invested in companies spanning fintech, deep tech, software, and consumer internet.

Notable successes include Klarna (the Swedish fintech giant), Supercell (Finnish gaming, acquired by Tencent), Graphcore (UK AI chips), and MessageBird (Netherlands communications platform). Atomico was also an early backer of Stripe in the US and Viagogo. The firm is known for publishing the annual “State of European Tech” report, reflecting its thought leadership in the ecosystem.

In terms of investment size, Atomico typically leads or co-leads Series A–C rounds with cheques of $5–$50 million, and it has the capacity to follow-on through later stages. It closed its fifth fund of $820 million in 2020 and a $1.2 billion fund in 2022, underscoring investor confidence in European tech. Atomico’s team includes partners with experience at Google, Uber, Spotify, and more – providing operational support to portfolio founders.

The firm also stands out for its commitment to sustainability and diversity, integrating impact considerations and backing companies tackling climate change. Atomico’s influence is evidenced by the fact that as of 2025 it has produced five IPOs and multiple $10B+ exits in Europe. In summary, Atomico has established itself as a premier VC “built by founders for founders,” fueling Europe’s ascent with capital, expertise, and global networks.

United KingdomLondonSeries A+GeneralistTechnology

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Klarna

Stockholm, Sweden · Startup

Klarna is a Swedish fintech company that pioneered the “buy now, pay later” (BNPL) model globally. Founded in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson, Klarna started by offering online shoppers in Sweden a way to purchase goods on invoice (pay after delivery). Over the next decade, the company expanded across Europe and beyond, becoming a dominant online payments provider. As of 2021, Klarna was Europe’s highest-valued private tech company at $45.6 billion, reflecting meteoric growth fueled by consumers’ appetite for installment payments. Klarna’s app and services allow users to split purchases into interest-free installments or pay later, and it partners with over 450,000 retailers worldwide, including global brands like H&M, IKEA, and Nike. The company has over 150 million users across 45 countries and handled $80 billion in transaction volume in 2021. Klarna’s journey, however, has seen dramatic swings: after reaching a $45B valuation in mid-2021, a combination of rising interest rates and tech market downturn led to a downround in 2022, cutting its valuation to $6.7 billion (an 85% drop). The company restructured, laying off 10% of its staff, and refocused on profitability. By 2023, Klarna returned to profit and saw renewed growth, aided by expanding beyond BNPL into a full shopping app with price comparison, loyalty features, and banking services (Klarna obtained a banking license in Europe in 2017). In 2025, Klarna reportedly delayed an IPO amid market volatility but ultimately went public in September 2025, raising $1.37 billion. Despite valuation fluctuations, Klarna remains the global leader in BNPL, with a strong brand among Gen Z and millennial shoppers. Its journey from a small Stockholm startup to a financial giant serving 65 million customers (2025) at one point valued at $75 billion exemplifies the rise (and resiliency) of Europe’s fintech sector.

StartupLate StageFintechPayments

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Northvolt

Stockholm, Sweden · Startup

Northvolt is one of the most consequential climate-tech companies ever built in Europe because it attempted to establish a continental battery manufacturing base for the electric era. The company became a flagship industrial project by combining battery-cell production, recycling ambitions, and strategic partnerships with European automotive and industrial players. That vision mattered well beyond Sweden: Northvolt symbolized Europe's effort to reduce dependence on external battery supply chains and to anchor advanced manufacturing capacity closer to regional customers. Its story is also a reminder that deep industrial startups operate under very different constraints than software companies. Battery manufacturing requires enormous capex, long build cycles, complex procurement, and tight execution across energy, materials, logistics, and customer contracts. Even with that complexity and its later financial distress, Northvolt remains central to understanding Europe's climate and industrial-tech ecosystem because it reset expectations for how ambitious startup-backed manufacturing on the continent could be. In directory terms, Northvolt broadens the picture beyond software and marketplaces by representing the hardware-heavy, infrastructure-scale side of innovation that shapes the future of transport, energy resilience, and industrial policy across Europe.

StartupIndustrial Scale-upClimateIndustrialEnergy

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Lilium

Munich, Germany · Startup

Electric vertical takeoff and landing jets designed to unlock zero-emission regional air travel.

StartupGrowthAerospaceMobility

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Sherry Coutu

Cambridge, United Kingdom · Angel Investor

Sherry Coutu CBE is a prominent angel investor and entrepreneur known for championing the UK’s scale-up ecosystem. Originally from Canada, Coutu moved to the UK and in 1994 founded Interactive Investor, an online brokerage, which she led to an IPO in 2000. After exiting that venture, she became a full-time angel in 2000 and has since invested in 50+ tech companies, focusing on consumer internet, education, and fintech startups. Coutu has been an early backer of notable UK startups like Zoopla and LoveFilm, and holds LP stakes in several venture funds. Beyond investing her own capital, Sherry Coutu is famed for her advocacy of “scale-ups” – mid-stage companies poised for high growth. In 2014, she authored the landmark Scale-Up Report for the UK government, highlighting the economic importance of helping startups grow into larger firms. This led her, alongside LinkedIn’s Reid Hoffman, to found the ScaleUp Institute in 2015 – a nonprofit that provides resources, mentorship, and policy advocacy for scaling businesses. Coutu also founded Founders4Schools and Digital Boost, initiatives connecting students and small businesses with experienced entrepreneurs. She remains an active non-executive director on multiple boards – past roles include serving on the boards of the London Stock Exchange Group (LSEG), the University of Cambridge Finance Board, and Pearson plc. In the angel community, Sherry Coutu is respected not only for her investments but for her mentorship and network: she often provides board-level guidance and operational mentorship to founders. Appointed Commander of the Order of the British Empire (CBE) in 2013 for services to entrepreneurship, Sherry Coutu is a pivotal figure helping UK tech startups navigate the jump from startup to scale-up.

Angel InvestorPre-Seed to Series AGeneralistTechnology

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Amber Business Angels Network

Szczecin, Poland · Angel Investor

A network grown by the Polish Entrepreneurship Foundation in Szczecin, uniting ~50 investors from across Poland. Amber invests in projects that at least have a prototype or beta, focusing on those with high potential and market access. Notable focus: early post-prototype startups requiring angel funding to commercialize (diverse sectors, strong emphasis on the West Pomerania region).

Angel InvestorPre-Seed to SeedGeneralistTechnology

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aws Gruenderfonds

Vienna, Austria · Accelerator

An Austrian fund providing capital for startups and fostering entrepreneurial growth through various support programs.

AcceleratorLate Seed to Series ATechnologyGeneralist

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Carlos Espinal

London, United Kingdom · Angel Investor

Carlos Espinal is a Managing Partner at Seedcamp and a long-time early-stage investor known for backing European founders from pre-seed onward.

Angel InvestorPre-Seed to SeedTechnologyStartups

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Sterling Angels

Krakow, Poland · Angel Investor

Also known as the Polish Business Angel Network, Sterling Angels is a community of private investors and some VCs who co-invest in early-stage companies. Based in Kraków, Sterling Angels not only provides capital but also mentoring and connections to help startups succeed. Notable focus: Southern Poland’s startup scene – tech startups in need of both funding and business expertise.

Angel InvestorSeedTechnologyGeneralist

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11x

London, United Kingdom · Startup

11x is the breakout star of the UK's agentic AI wave, known for building "digital workers" that replace full job functions rather than merely assisting them. Founded in 2022 by Hasan Sukkar, the company frames its product as autonomous employees rather than software tools. That positioning is controversial, but it resonates with revenue teams seeking to eliminate manual drudgery and scale outreach without linear headcount growth. The flagship product, Alice, is an AI Sales Development Representative that can source leads, research accounts, craft highly personalized outreach, and follow up continuously. In late 2024, 11x launched Jordan, a multilingual AI phone agent that conducts real-time voice conversations for qualification and support in more than 30 languages. Together, these agents can run a large portion of the outbound funnel end-to-end, from initial outreach to handoff, with human oversight focused on high-value exceptions. By early 2026, 11x had exploded in valuation after a Series B led by Andreessen Horowitz, a rare win for a UK-first startup. The company processes millions of interactions for high-growth tech companies such as Otter.ai and Airwallex and is expanding its footprint in San Francisco to preempt US-based competitors. The roadmap centers on "digital teams" that coordinate multiple agents across tasks: one agent identifies a lead, another calls, a third negotiates logistics, and a final agent drafts the contract. This orchestration layer is the company's strategic bet on becoming the default system for revenue operations. The company's roots include Y Combinator's Summer 2023 batch, which accelerated its US network and credibility, and its UK engineering base sits in the London Bridge tech hub. Investor support spans US and European capital: a16z led the Series B, Benchmark led the Series A, Lux Capital participated early, Quiet Capital backed growth, and 20VC provided influential local support. In 2026, 11x is the UK's most visible play on AI-native revenue teams, aiming to become a category-defining platform for autonomous sales operations.

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