The launch of Plural's new fund is a boost to the growing startup activity in Europe, particularly as the region faces a venture funding shortage. The fund's largest sectors by investment are AI, frontier technology, and climate and energy. Plural has already made 27 investments in various sectors, including law-focused AI, nuclear fusion power plant development, and drug discovery platforms.
Key takeaways:
- Venture capital firm Plural has launched a 400 million euro ($436.4 million) fund, Plural Fund II, to support technology and AI startups in Europe.
- Plural's founders include Wise co-founder Taavet Hinrikus and Sten Tamkivi, co-founder of Skype, and the firm believes its founder-led approach will significantly support European entrepreneurs.
- Plural has already made 27 investments in various sectors and plans to continue investing at a pace of two to three investments per investor per year with its new fund.
- The launch of Plural’s new fund is a positive development for European startups, which have been facing a venture funding shortage in the region.