European VC firm Lakestar launches new $400M fund for local and U.S. startups

Europe’s Lakestar has announced a fresh €350 million ($400 million) fund, as the Guernsey-based venture capital (VC) firm looks to plow more cash into European and U.S. startups.

Founded and chaired by European VC Klaus Hommels, who was an early investor in Skype, Spotify, Facebook, and other well-known tech companies, Lakestar II is a follow-up to the €135 million ($154 million) fund launched in 2013, which is still active.

The new fund will be used to invest in “all stages,” though it will particularly focus on early-stage and growth-stage investments across a “wide range of sectors.” And given the firm’s focus on the U.S. and Europe, it says it aims to “embrace” connections between the two regions — in other words, it wants to help foster relationships between complementary companies in its portfolio.