European start-up investor Atomico opens its first Berlin office, demonstrating its growing commitment to the German start-up scene. The company has recently invested in German start-ups such as DeepL and Vaayu. Atomico’s Berlin office signals an important milestone for the local start-up ecosystem, as the investor has historically allocated 10% of its capital to the German-speaking region. Despite the current economic challenges and remote work trends, face-to-face exchange remains crucial in the industry. Atomico, founded by Skype creator Niklas Zennström in 2006, has invested in 120 start-ups.
Increasing presence in Europe
Atomico is expanding its presence in Europe, opening local hubs in Berlin and Stockholm, alongside its existing Paris office. With 75% of its investments from its recent fund going into EU-based companies and 58% of its investors holding EU passports, the firm aims to support European start-ups in scaling globally. The company has partnered with 17 of the 26 billion-dollar companies headquartered in Europe and has seen the region’s early-stage start-up pipeline match that of the United States. Europe holds 31% of global early-stage funding rounds under $5 million, while the US holds 33%. Both regions convert 1.9% of seed-funded start-ups into unicorns.
By opening local hubs in Berlin, Stockholm, and expanding its Paris presence, Atomico aims to deepen its involvement in these world-class cities for innovation. The firm has already demonstrated its commitment to the region through investments in start-ups like y42, Vaayu, PocketLaw, and Aplo. Dedicated team members are present in all locations, with Mathieu Marc (VP) and Konstantin Zedelius (VP) full-time in France and Germany, supported by Partners Laura Connell and Luca Eisenstecken. In Stockholm, Associate Amanda Hultman and Partner Andreas Helbig support the firm’s presence.
Atomico’s focus on mission-driven founders
Atomico has raised an $820 million mega fund in 2020, bringing its total assets under management to $2.7 billion. Led by founder Niklas Zennström, the firm seeks “mission-driven” founders at Series A and beyond, with examples including Healx, Infarm, and Koru Kids. Hiro Tamura, a London-based partner, focuses on early-stage consumer, fintech, software, and late-stage ventures, assisting companies with international expansion and helping founders with hiring, financing, introductions, and counsel. Sophia Bendz, a Stockholm-based partner, focuses on femtech and the Nordics, with a background as Global Marketing Director at Spotify and a prominent angel investor. She has developed Atomico’s angel programme for diversity in angel investing and early-stage company sourcing, building strong relationships with founders and supporting them through the ups and downs of the start-up journey.
Significance of Atomico’s Berlin office
The opening of Atomico’s Berlin office is an essential signal for the international venture capital markets, as the start-up scene closely monitors where venture capital firms operate their offices, using it as an indicator of a location’s standing in international competition. Christian Miele, President of the Federal Association of German Start-ups, welcomed the strengthened presence of esteemed investors like Atomico in Berlin. Recent investments in Germany include the Cologne-based online translator DeepL, which has become a unicorn, valued at over one billion dollars, thanks in part to Atomico’s financial support.
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