European VC firm Sprints raises €725 million for fifth fund, over half already deployed

PANews October 13 news, according to Bloomberg, European venture capital firm Sprints has completed fundraising for its fifth fund, reaching €725 million (approximately $810 million). Henrik Persson, co-founder and managing partner of the firm, said the fundraising took about a year, and more than half of the capital has already been deployed to invest in new companies and existing portfolio companies, with backers including endowments, foundations, pensions, and family offices. Sprints invested early in Revolut and is the largest shareholder in second-hand trading app Vinted, and has also invested in Flightradar24 and payments company Checkout.com. Its portfolio company Fin, an AI customer service company, was acquired by Salesforce this year for $3.6 billion. Persson said the firm has not invested in any foundation AI companies, because most such companies have not yet formed a business model.