A British-Estonian investment fund has committed €400 million to support tech startups across Europe
Launched in June 2022, Plural seeks to connect European company creators with investors who have also served as founders.
“Only 8% of European VCs have ever built a company, yet founders building tough businesses are better served by investors with first-hand experience,” Plural said in a statement.
Among Plural’s group of investors are two Estonians: serial entrepreneur Sten Tamkivi and co-founder of Wise Taavet Hinrikus. Ian Hogarth, Khaled Helioui, and Carina Namih are also on the team. The London, UK, and Tallinn, Estonia, locations of the 15-person Plural team.
Important technology developed in Europe
Since its founding, Plural has made investments in 26 businesses located in six different nations: the US, the UK, Denmark, Estonia, Germany, and the Netherlands. In terms of investments, its top three industries are energy and climate(14%), frontier tech (16%), and artificial intelligence (31%).
“Exceeding its target and attracted participation from some of the most prestigious university endowments, foundations, and family offices in the world,” Plural stated of its most recent fund.
The fund aims to expand its investment approach “deeper into the European ecosystem, where startup creation continues to outpace the US,” according to Plural partner Carina Namih.
According to Taavet Hinrikus, Plural supports entrepreneurs that are using technology to address the largest issues facing the globe. He declared in a statement, “We’re determined to build enduring global companies that have GDP-level impact and transform economies and societies by supporting the most ambitious founders with our hard-won experience.”
He went on to say that “significant technology” is being developed throughout Europe; according to Hinrikus, more than 40% of European tech investment last year went toward frontier and deep tech. Frontier technologies—such as artificial intelligence, big data, the metaverse, and bioprinting—are developing at the nexus of revolutionary scientific discoveries and practical application.