Balderton Capital, a leading European venture capital firm, has announced two new funds totaling $1.3 billion to support ambitious tech entrepreneurs across the continent. The firm raised a $615 million Early Stage Fund IX and a $685 million Growth Fund II, marking the first time Balderton has raised early and growth-stage funds simultaneously.

Bernard Liautaud, managing partner at Balderton, emphasized the firm’s commitment to backing innovative European businesses: “[W]e believe the best way to change the world is to build a business — and that many of these world-changing businesses will be built in Europe,” he said.

The funds attracted a diverse mix of global investors, including British Patient Capital, the U.K.’s largest domestic investor in venture opportunities, and the City and County of San Francisco Employees’ Retirement System, which committed $35 million earlier this year. This strong investor interest reflects Europe’s growing prominence as a tech hub, particularly in artificial intelligence, with London and Paris emerging as key innovation centers.

Balderton’s track record includes investments in over 275 technology companies since its founding in 2000. Its portfolio features successful exits such as cybersecurity provider Darktrace and social shopping app Depop, as well as current high-growth companies such as content managing system Contentful and fintechs Revolut and GoCardless.

Beyond financial backing, Balderton offers comprehensive support to founders through its platform team, industry veterans serving as Executives in Residence, and a community of over 700 technology executives. The firm has also implemented a Founder Wellbeing and Performance platform, providing resources including executive coaching and peer support.

With its new funds and a team of 65 across Europe, Balderton is poised to continue its mission of partnering with top entrepreneurs building world-changing companies in the region’s thriving tech ecosystem.