Seedcamp Research
Investment Thesis
Seedcamp is Europe's original seed fund, founded in 2007 as a program born out of the Seedcamp Week accelerator and evolved into a sector-agnostic, first-check venture fund. The firm's positioning is "By Your Side from Day One," built around three pillars: "Unfiltered advice," "Unwavering support," and an "Unrivalled network." Rather than betting on a specific sector, Seedcamp backs "world-class founders at their earliest stages" and explicitly says the founder and the scale of their ambition matter more than the business's current stage. In practice this means funding companies from pre-product through early revenue, but not later-stage companies that have already raised several million dollars from other investors.
Sector Focus
Seedcamp is sector-agnostic by design, but current portfolio concentration and recent investment activity point to strength in: AI-native software and AI infrastructure, fintech and payments, enterprise/vertical SaaS, developer tools and infrastructure, security, healthtech/biotech, climate, and consumer marketplaces. The firm has recently signaled increased interest in "physical AI" and science-adjacent categories (surgical intelligence, longevity, space manufacturing) without becoming a specialist deep-tech fund — partner Tom Wilson has stated the firm remains "very, very focused on the stage that we invest" rather than the sector.
Stage Focus
Seedcamp is a first-check investor, focused on pre-seed and seed. They are explicit that they are not a fit for companies that have already raised several million dollars. The firm also runs a Select fund purely for follow-on capital into existing portfolio companies at Series B and beyond — this is reserve capital for winners, not a new-logo strategy.
Check Size
Typical first checks range from $350K to $1.25M. The newly announced Fund VII ($220M) is the core first-check vehicle, while the companion $100M Select fund is dedicated to Series B+ follow-ons for existing portfolio companies that are scaling.
Lead Tendency
Seedcamp prefers to lead or co-lead rounds and works collaboratively to build syndicates with angels and other investors, explicitly avoiding aggressive negotiating tactics with founders.
Recent Activity
Seedcamp announced $320M in new capital in June 2026 (Fund VII: $220M for first checks; Select: $100M for follow-ons), pushing total assets under management past $1 billion — a milestone for a firm founded in 2007 with a $2.5M debut fund. Historical fund performance has been strong: Fund III has returned more than 13x DPI to LPs, and Fund IV is tracking more than 5x net TVPI. Since the Fund VII announcement, Seedcamp has continued deploying actively, backing Sherpa ($2.2M, AI operating system for the workforce), Resolyst, Waniwani ($8M, AI-native distribution for financial services), Uncovr ($7M, AI system of intelligence for surgery), and Opereit ($2.5M, logistics inefficiency). The firm is also deepening its US presence via its New York office, positioning itself as a transatlantic bridge for European founders seeking US capital, networks, and customers.
Portfolio Highlights
Seedcamp's portfolio spans 550+ companies with a combined enterprise value exceeding $100B, including 12 companies valued above $1B and 30+ valued above $100M. Flagship outcomes and scaled companies include Revolut, Wise, UiPath, Synthesia, Fluidstack, Dust, 9fin, Function Health, Primer, Sorare, Pleo, and Lindus Health. Notable recent-vintage bets include BioOrbit (space manufacturing/bio), Sunrise Robotics, Outpost Bio, and a wave of AI-native companies (Waniwani, Uncovr, Opereit, Sherpa, Resolyst).
Team
- Reshma Sohoni — Co-Founder & Managing Partner
- Carlos Eduardo Espinal — Managing Partner
- Tom Wilson — Partner
- Sia Houchangnia — Partner
- Felix Martinez — Partner
- Hilary Howe — Partner
- Antonia Whitecourt — Chief Operating Officer
- Will Bennett — Principal
- Devin Hunt — Venture Partner
The firm describes its core investing team as seven investors, supported by a network of 1,200+ operators, including 80 founders who invested directly in Fund VII.
Decision Process
Investment decisions run through the full partner team. The process is intentionally compressed: an initial conversation is typically followed by further meetings or async (email/WhatsApp) diligence; if there is strong interest, founders pitch to the full partner team for 45 minutes. Seedcamp aims to reach a decision within two weeks of first meeting a founder. Founders can pitch directly via the firm's public "Pitch Us" intake page.
Founder Preferences
Seedcamp looks for founders with grit, tenacity, and the vision to build new markets from scratch, rather than optimizing for a particular pedigree or sector background. The firm emphasizes being a genuine early partner — offering candid advice and hands-on support — rather than a passive check-writer.
Geographic Focus
Primarily Europe and Israel, or companies with a distinctly European angle — the firm states these are "the market opportunities we understand the most" and where they can add the most value. Seedcamp maintains a growing US presence, with team members based in New York and on the West Coast, explicitly to help portfolio founders access US capital, networks, and customer relationships as they scale internationally. Headquarters is in London, UK.