Hummingbird Ventures raises $200m for seed, opportunity funds

EU-based VC firm Hummingbird Ventures said it has raised a total of US$200 million for two separate funds.

Hummingbird Ventures founder Barend Van den Brande / Photo credit: Hummingbird

The company has launched its new seed fund HV4 at US$60 million, aiming to invest anywhere from US$500,000 to US$5 million in the earliest stages of a startup.

It also allocated US$140 million for its opportunity fund, which it will use to further back its portfolio companies with up to US$20 million in aggregated commitments.

Moving forward, Hummingbird will increasingly look for healthcare and biotech startups to invest in. This strategy has prompted the firm to sign up healthcare experts Pablo Lubroth and Tess van Stekelenburg to be part of its investment team.

Hummingbird has already invested in two medtech startups from its new funds, it said.

From its new opportunity fund, the company invested in India-based healthcare startup Pristyn Care, which it had also invested in last year.

Additionally, Kernal Biologics is its first investment for HV4. The US-based company develops treatments whose potency can be dialed up without harming healthy tissues.

Founded in 2010, some of Hummingbird’s previous investments include those made in Deliveroo, Khatabook, FPL Technologies, Shutl, and Instacarro.

Hummingbird claims its fundraise for the new funds were oversubscribed in 10 days, gaining support from its existing private investor base and over 200 shareholders in a first and final closing.