Even for Skype Co-Founder, Raising a Post-Brexit Fund is Hard
- Zennstrom’s Atomico raises $765 million fund venture fund
- Atomico has backed Supercell, Rovio, Climate Corp, Jawbone
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European startups have no bigger advocate than Niklas Zennstrom. In the decade-plus since he sold Skype to eBay Inc. for $2.6 billion he’s espoused the region’s potential as a counterpoint to Silicon Valley and poured parts of his fortune into promising companies. But as he tried to convince investors last year to join his latest venture capital fund to back European entrepreneurs, Zennstrom found he still has to do some convincing.
The U.K.’s vote to exit the European Union, along with lingering questions about Europe’s ability to generate Silicon Valley-like financial returns, complicated Zennstrom’s fundraising efforts for a new $765 million fund announced today by his London-based venture capital firm Atomico.