Lakestar II: the investment company behind Facebook, Airbnb and Spotify launches a fund of 350 million euros
The Lakestar II fund is the largest to be raised by the company to date and the company, which has offices in Guernsey, Berlin and Zurich, will focus on supporting businesses in its native Europe and the United States.
Lake star has provided start-up investments to tech giants including Facebook, Airbnb, Spotify, Skype and King.com, and will seek out companies with the same potential while leveraging its experience to support opportunities for scale.
Lakestar founder Klaus Hommels and his team plan to use connections in Europe and the United States to advance companies seeking early stage and growth funding to develop a presence for partners in all geographic areas.
“We are very pleased to have aroused the interest of many leading investors in Lakestar II. In fact, the fund has been significantly oversubscribed. However, $ 350 million is the right size to give our portfolio companies the right level of personal attention and support from our partners, and to help these companies grow, ”Hommels said.
Lakestar was among the investment firms that backed Berlin-based on-demand home services company Helpling, which then bought out rival UK-based service Hassle.com.
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Alex Depledge, CEO and Founder of Hassle.com, said at the time: Our goal from the start has always been to become a global home cleaning brand. This strategic move brings us considerably closer to that goal.
While Lakestar has experience focusing on digital developments, it will not be limited to one area and plans to target multiple industries. It is a decision which was taken to have more chances to create disruptive companies in various major markets.
Hommels added: The European tech market continues to grow. We saw high-quality investment opportunities in technology, in a venture capital ecosystem that has improved dramatically and produced more and more market-leading companies globally.
“Also seeing a shift in the way the most promising companies access finance rather than going public, key players are seeking private finance later in their development, providing opportunities for follow-on investments in top performing companies. . To date, we have invested in some of the biggest startups in the world. We plan to continue to do so, in Europe and the United States.