Sprints Raises €725 Million for Fifth Fund, Over Half Deployed

European venture capital firm Sprints has completed fundraising for its fifth fund, totaling €725 million (approximately $810 million). The fundraising took about a year, and over half of the capital has already been deployed, primarily for investments in new companies and existing portfolios. The investors include endowments, foundations, pension funds, and family offices. Sprints made early investments in Revolut and is the largest shareholder of the second-hand trading app Vinted, as well as investing in Flightradar24 and payment company Checkout.com. Its portfolio company, AI customer service firm Fin, was acquired by Salesforce this year for $3.6 billion. Sprints has not invested in any foundational AI companies, as most of these companies have yet to establish a business model.

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