Estonian Plural raises €400M for its second fund, €660M in total

Plural, an Estonian-founded investment firm, has raised a second fund at €400 million. The fundraising took place just 18 months after the launch of its first €250 million fund, informs.

  • Launched in 2021 by Taavet Hinrikus, Ian Hogarth, Sten Tamkivi, and Khaled Helioui, Plural Platform is a European investment platform “set up for the unemployables”. The firm invests serious time and capital in a new wave of world leading tech companies from Europe.
  • Since the launch, Plural has made a total of 26 investments into the startups, including:
    • Proxima Fusion, a German fusion energy company;
    • KOOS, a Tallinn-based SaaS platform;
    • Unitary, a London-based startup working in the field of visual content moderation;
    • Arbonics, an Estonian carbon and ecosystem platform.
  • The firm focuses on such industries as: 31% are in AI, 16% are “frontier tech”, and 14% are climate tech. 23% of its portfolio companies have female founders and more than half of its portfolio is led by women or minority founders. The firm claims that each partner has been doing two investments per year, typically with an amount of €1 million-€15 million into early-stage European companies.

We’ve now raised €660 million in total to back important missions and have a GDP-level impact in Europe, address systemic risks and reduce the opportunity gap worldwide through the companies we back. Thanks to everyone who has been part of the Plural journey so far. We’re just getting started!

Plural team commented on their LinkedIn page.

Plural LPs include US and UK university endowments, US foundations and insurers, strategic family offices from Europe and the US, and global VC funds of funds. According to Plural, with their help the firm aims to achieve the goal it set out in 2022: having GDP-level impact on Europe.