Lakestar closes second fund at almost $400 mln

European venture firm Lakestar has raised 350 million euros (about $398 million) for its oversubscribed second fund. Lakestar II will focus mostly on early-stage or growth-stage investments. Monument Group was the placement agent.


European venture capital firm Lakestar has announced it has closed on a new €350m ($398m) fund, Lakestar II. Lakestar II is the largest fund to be raised by Lakestar, and one of the largest VC funds in Europe.

Lakestar Founder and Chairman Klaus Hommels said:
“We were very pleased to have received interest in Lakestar II from many prominent investors – in fact, the fund was significantly oversubscribed. However, €350m is the right size to give our portfolio companies the appropriate level of personal attention and support from our partners, and to help these businesses grow.”

Klaus Hommels and his partners at Lakestar have extensive experience in the start-up and venture scene. They have made investments at several stages in a number of billion-dollar European and US start-up companies.

The firm’s geographical focus will embrace Europe and the US, and facilitate connections between the two geographies for its companies. The size of Lakestar II will allow the partners to invest at all stages. The fund will focus primarily on early stage investments, and on growth stage investments when start-ups are looking for the resources to grow and scale.

Monument Group served as placement agent, supporting Lakestar in accessing a diverse set of investors in the US.

A record of success
Lakestar has a strong record of delivering value for its portfolio companies and investors. Lakestar I, the partners’ previous fund, is invested in some of the most well regarded start-ups in the US and Europe, including Harry’s (US), Oscar (US), Algomi (UK), GoEuro (Germany) and Teralytics (Switzerland).

Rather than focus on a particular segment within the digital industries, Lakestar is looking across a wide range of sectors. This will allow its experienced partners to capitalise on opportunities to build disruptive businesses across different major markets.

Lakestar Founder and Chairman Klaus Hommels added:
“The European technology market is continuing to boom. We’re seeing high-quality investment opportunities in tech, in a venture capital ecosystem that has materially improved and is increasingly producing market-leading companies on a global scale.

“We’re also seeing a shift in the way the most promising companies access funding – rather than going public, major players are seeking private funding later in their development, providing opportunities for follow-on investments in strong performers. To date we have invested in some of the world’s biggest start-ups. We plan to continue to do this, in Europe and the US.”

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About Lakestar
Lakestar is the general partner of the Lakestar II fund, and a leading investor in European and US businesses. It was founded and is currently chaired by Klaus Hommels.

Lakestar’s partners launched Lakestar I, a €135m ($154m) fund, in 2013. This fund is currently active, and continues to invest in follow-on rounds for its existing portfolio.

Lakestar has offices in Berlin, Zurich and Guernsey, and aims to help great teams with disruptive products to build outstanding businesses.

About Klaus Hommels
Klaus Hommels, a leading European business angel and venture capitalist, has been involved in numerous successful Internet investments including Skype, Airbnb, Facebook,, Xing and Spotify. He scouts for promising start-ups that have the potential to become major players in the Internet space.

Klaus graduated with a Master’s degree in Business Administration from the University of Fribourg in Switzerland and holds a PhD in Finance from the same university.

He was ranked as the top Europe-based venture capital investors in 2013, 2014 and 2015 in the Midas List of Forbes Magazine. Klaus was also named Investor of the Year 2011 & 2012 at NOAH Advisors Conference.