Firstminute Capital, a brand new pan-European seed fund cofounded by Lastminute.com’s Brent Hoberman, announced it has closed an oversubscribed first fund at $60 million.

The agency claims to have round two dozen founders of billion-dollar tech companies on board, and it has nabbed a notable “cornerstone investor” within the type of Atomico, a fellow London-based VC fund based by Skype co-creator Niklas Zennström. Atomico really signed up Hoberman last January as a part of a brand new entrepreneur companions program.

“For two decades, he [Hoberman] has done more than most to find, support, and encourage Europe’s best founders,” famous Zennström. “That’s why we were so pleased he became one of our entrepreneur partners last year and it’s why, when Brent told us about Firstminute, we wanted to be his first investor.”

Together with Hoberman, Firstminute Capital was cofounded by Spencer Crawley, who will function head of investments, and the corporate confirmed that it’s in its “final stages” of making additional hires.


Firstminute mentioned that it plans to take a position as much as $750,000 in early-stage European companies at valuations of lower than $10 million, offering startups with “more than 18 months of runway.”

“We hope to help the next generation of top entrepreneurs, both with our reach and by giving them credibility and support,” added Hoberman. “We will invest not just in the U.K., but across Europe. We were aiming to raise $60 million for our first fund and to have achieved that with oversubscription before our final close is a strong signal for European technology. ”

Various funds aimed toward European startups have come to fruition over the previous 12 months or so — again in February, Atomico closed a $765 million pot, one the most important funds to emerge from the area. Elsewhere, 83North announced an oversubscribed $250 million fourth fund for European and Israeli startups; Partech Ventures closed a $440 million and $108 million fund for growth- and early-stage startups, respectively; Northzone closed a $335 million fund; and Index Ventures closed a $550 million fund for seed and enterprise investments in Europe, Israel, and the U.S.

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