20VC, the London-based investment firm run by Harry Stebbings, announced today that it has raised its third fund, sized at $400 million – to be split between Seed ($125 million) and Series A ($275 million). Today’s announcement marks a 2.5x increase in fund size from 20VC’s second fund of $140 million in June 2021, at a time when many are struggling to fundraise.

Investors include MIT Investment Management Company, Horsley Bridge, and Rothschild-backed RIT Capital Partners.

Harry Stebbings, 20VC’s Founder and Managing Partner, said:

“We are here to build a generational-defining firm. Raising $400 million from the calibre of investors that we have is a testament to their belief in us and to our model working. It’s time to put our heads down and work harder than ever.”

20VC’s core differentiation is its unique structure. Founded on the realisation that operators, not investors, provide immense value to high-growth companies; 20VC has three unique sub-funds – 20Sales, 20Growth and 20Product. Comprised of 24 of the best operators in their fields, these sub-funds work together as a reliable and repeatable machine – to find, pick and win the best companies.

20Sales is an all-female team of sales and revenue professionals including GTM Leaders at Notion, OpenAI and Vanta. 20Growth includes executives from hyper-growth companies like Doordash, Dropbox, Shopify and Pinterest. And 20Product comprises CTO and Product veterans from LinkedIn, Nubank, Snapchat and Spotify.

20VC is growing faster than ever now with over 150 million downloads to date. Through this media vehicle, Harry has conducted over 2,750 interviews with over 800 of the world’s best CEOs and Founders from OpenAI’s Sam Altman to Salesforce’s Marc Benioff, to Spotify’s Daniel Ek and LinkedIn’s Reid Hoffman. 

The fund also counts founders from Atlassian, Candy Crush, Canva, Capital One, Datadog, Deliveroo, Eventbrite, Iconiq, Procore, Spotify, UiPath and Vinted. GPs from firms such as Accel, Benchmark, Coatue, Cyberstarts, Founder Collective, Founders Fund, Khosla, NEA and TCV also participated.

Josh Kushner, Founder of Thrive Capital, said: 

“Harry is an exceptional partner to entrepreneurs and an important figure in promoting important ideas in the technology ecosystem.”

Ryan Akkina, Global Investment Team, MIT Investment Management Company, said: 

“The combination of the 20VC media company and sub fund structure is truly unique. Harry is building one of the highest potential next generation venture brands, and we are thrilled to back 20VC.”

Lead image: Harry Stebbings, the Founder and Managing Partner of 20VC. Photo: uncredited.