London-based Atomico is describing this as its “largest ever fundraise,” although technically it is across two pots of money. “Atomico Venture VI” weighs in at $485 million for mostly Series A-stage companies (with some reserved for seed), and a separate $754 million fund — dubbed “Atomico Growth VI” — is for Series B through pre-IPO.
Raising and allocating money from separate funds is typical of many venture capital firms today, but that Atomico closed two separate funds, led by separate teams, is notable. The firm has historically leaned toward earlier funding rounds while dipping into later stages where it made sense. Now it’s setting itself up to focus just as much on the later stages of a startup’s journey with a dedicated fund.