London-based Seedcamp announces new £41M fund, almost double its ~£21M 2015 fund, to invest in early stage startups as it celebrates its 10 year anniversary
Context & Ripple Effects
Seedcamp marking ten years by nearly doubling its fund size — £41M against the ~£21M it raised in 2015 — lands mid-way through a stretch where seed-stage vehicles keep getting bigger: SV Angel overshot its target on a $53M sixth fund in late 2016, and Homebrew has grown each successive vehicle since 2013.
The London angle matters because the city now has follow-on depth: Accel's $500M Accel London V targets Series A and B in Europe and Israel, so a doubled Seedcamp fund feeds an ecosystem where seed bets no longer depend on US money for the next round. Entrepreneur First's $115M raise shows London's earliest-stage layer expanding on multiple models at once.
First-order effects
- Seedcamp gains roughly twice the deployable capital per vintage, letting it write larger initial checks or hold more reserves for follow-ons in its portfolio companies.
Second-order effects
- Seedcamp competes for deals and LP commitments against peers that are also scaling — SV Angel and Homebrew both raised larger funds than their predecessors — pushing seed pricing and founder choice upward in the markets all three touch.
Third-order effects
- If seed funds keep compounding in size while firms like Accel commit half-billion-dollar vehicles to European Series A/B, the seed-to-growth pipeline inside Europe thickens structurally, reducing dependence on cross-border capital for startups to scale locally.
The trend: Seed-stage venture funds are steadily enlarging each successive vintage, turning what was once angel-scale investing into an institutionalized asset class.