Blossom Capital is a venture capital and private equity firm that invests in consumer, enterprise, internet, and startup sectors. It is popular for investing in European startups at their Series A stage.
Blossom capital has raised $432 million in a third fund from its partners across Europe and the US. The fund of $432 million is its biggest fund focused on European Startups Series A stage ever.
It was founded by Candice Lo, Imran Glory, Mike Hudack and Ophelia Brown. According to Ophelia Brown, “We launched back in 2018 thinking there was a gap in Series A funding. Now we see that opportunity set growing each year, and not just in London, Paris and Berlin, but a lot of other cities in Europe”.
Blossom Capital has recognized how big funding rounds can be and will be in the future and that is why it is venturing into early rounds, specifically Series A, so as to maximize the opportunities from investing. About ten years ago, it was rare to see a Series A round in Europe that exceeded $5 million but now this is no longer the case and the median size for Series A funding round stands at $10 million. The belief is that this figure can and will go higher, creating newer milestones as well as fresh opportunities.
Blossom Capital has invested in a number of startup categories and while it is known to be a generalist venture capital firm, it focuses on Series A rounds. Some of the startups that Blossom Capital have invested in include business forecasting specialist Pigment, payments company Checkout.com, Delivery startups Dija, and a host of others that cut across video, cybersecurity, etc.
The new fund of $432 million will be used to continue investment in Series A rounds but this time around, the company will be investing in startups associated with cryptocurrency.
Cryptocurrency is the order of the day and there lay many opportunities within the new sector. Of course, Blossom Capital wants to tap into them. According to co-founder Ophelia Brown, she bought her first Bitcoin in 2012 and although the cryptocurrency has experienced some setbacks of late, she is optimistic that opportunities will continue to come out of it.
According to Alex Lim who recently joined the company, the company wants to do more in cryptocurrency-related activities and business including crypto infrastructure, Web3 and protocols, and customer services. “Our focus is to invest early. It’s not just a bubble. There are markets being created here”, he said.