European venture capital firm Lakestar closed its second fund at €350m (approx. $398m).
Lakestar II will focus on early stage investments, and on growth stage investments when startups are looking for the resources to grow and scale.
Led by Founder and Chairman Klaus Hommels, Lakestar geographically targets Europe and the US to facilitate connections between the two continents. At a segment level, the firm will invest within the digital industries, and looking across a wide range of sectors.
Lakestar I, the previous €135m ($154m) fund, has been invested in companies like Harry’s (US), Oscar (US), Algomi (UK), GoEuro (Germany) and Teralytics (Switzerland). This first vehicle is currently active, and continues to invest in follow-on rounds for its existing portfolio.
Lakestar has offices in Berlin, Zurich and Guernsey.