Fund brief: Balderton raises $430M

Balderton Capital has held a $430 million first close for its fourth early stage European venture capital fund, which is targeting $500 million. This is Balderton’s first fund since spinning out as an independent entity from Benchmark Capital.

London-based Balderton Capital, formerly known as Benchmark Europe, raised $550 million for its third fund, which closed in December 2006.

Partner Barry Maloney last month told the Financial Times that there were plenty of opportunities to invest in the downturn.

“Part of the reason for raising this fund now is to take advantage of the opportunities that this stage of the cycle throws up,” he said.