London VC firm Blossom Capital launches new £142m tech fund

David Prior's picture

London-based VC firm Blossom Capital has launched a £142 million fund to invest in European tech startups.

It comes just 11 months after the firm's first fund raise, worth £65m.

Launched by Ophelia Brown (pictured) in 2017, Blossom has so far invested in payments unicorn Checkout.com, traveltech startup Duffel and cybersecurity platform Tines.

“The volume and quality of European startups is now five times what it was five years ago," said Brown.

"The US funds have noticed this and they are investing more frequently and with more capital in the very best European startups.

"Blossom Capital has established itself across Europe as the first choice for entrepreneurs in part because of our strong relationships with the US’s very best investors. Today we announce our second fund through which we will keep investing with conviction in European-founded companies that we know will one day operate successfully in global markets.”

Recent data from Tech Nation and Dealroom showed that investment in UK tech surged 44% to £10.1billion in 2019, outperforming Europe and more than France and Germany combined.