A VC which backed Revolut, Deliveroo and Wise at the seed stage has launched a new $300 million fund to back early-stage startups.
Index Ventures said global fund Origin II – $100m larger than Origin I – is ‘designed for extraordinary entrepreneurs’.
“Entrepreneurship at its best begins with a simple question: ‘What if..?’ It’s a curiosity that has fuelled innovators for centuries to challenge the status quo, driven by a relentless belief in what’s possible,” the VC said.
“Undeterred by what could go wrong, they are powered by the pure obsession with what could be, if an idea does work. Will [Shu] from Deliveroo explored how to deliver your favourite restaurant meal to you in 30 minutes, and Nik [Storonsky] at Revolut formulated a plan to create better financial products for millions.
“They are why investing from seed has always run to our core, and why three out of four of our initial investments are made at the earliest stages.
“We are now seeking the next generation of founders who are prepared to ask: ‘What if?’ And we believe this is the right time to be asking those questions.
“Extraordinary entrepreneurs succeed regardless of the macro dynamics. They don’t start a business based on rallying markets and trending VC investments but instead are driven by a singular mission and complete conviction.
“In fact, uncertain times have time and time again produced some of the most successful companies. From Airbnb to Adyen, Slack to Skype, Google and Spotify, innovative companies have always been founded or grown during a downturn.
“They operate in an environment with fewer competitors, where startups produce better, more resilient teams with a greater focus and agility than legacy players.”
Index describes its approach as ‘collaborative with the seed community’ – co-investing with seed funds, solo general partners and angel investors for the benefit of founders.
It works with investee companies to develop hiring strategies; gain access to key decision-makers at well-known companies for partnerships; gain advice from a network of product, sales, finance and operations specialists; and establish stock option plans.