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Note from Editors:
Lakestar, a VC firm led by Klaus Hommels, raised $385 million to expand operations in Germany and New York. Lakestar investments include Skype, Spotify, Facebook, AirBnb and European startups.

by Steven Bertoni

Klaus HommelsWhile European grapple over how to bail out the Greek economy, European VCs are having no trouble raising massive amounts of cash.

On August 24th, Lakestar, a Zurich-based VC led by Klaus Hommels, said it raised $385 million for its Lakestar II fund. That sum makes Lakestar II the largest single fund in Continental Europe. (The new raise  brings Lakestar’s  total assets under management to  $535 million). Hommels says he capped the raise at EUR 350 million($385 mm), but because of high demand, could have raised as much as EUR 600 million. “We got money from U.S. endowments and top plus wealthy Chinese families,” says Hommels. “I’m pretty happy.”

Hommels, made Forbes Midas List of top VCs in 2014 and 2015 for early bets on Skype, Spotify and Facebook FB +1.20%. Other investments include healthcare firm Oscar, AirBnB, plus European startups like Teralytics, Algomi, and GoEuro.

Read the full article:

Curated from Spotify Backer, Lakestar, Raises $385 Million Fund To Take On Europe’s Top VCs

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