Hello Moonfire

Posted on 3 November 2020 by Mattias Ljungman

I’m excited to welcome you to Moonfire Ventures.

Since my early days in venture capital, I have had a strong belief that opportunities around Seed in Europe were being missed. The data shows that European Seed is underfunded: it has not received the same attention as it has in the US and China. In the US, it’s easy to name 10 or more Seed funds that have had a big impact financing the next generation of founders. In Europe, the attention has been on the Series A and B segments of the market. Today, in particular, there is the opportunity to fill the gap for another top tier Seed fund investing across Europe.

I’m full of hope for what’s to come and I’m deeply thankful for what has been  – and all the people who have had an impact on me along the way.

I started Moonfire after 13 years at Atomico and am profoundly thankful for having worked there with a world-class group of people, who taught me an incredible amount and made me aim higher every single day.

Atomico re-energised venture capital in Europe and rewrote its course by placing big bets and backing game-changing businesses. We were the first credible founder-led venture fund, then the largest new fund of its time, then the first European fund with a growth acceleration team, and the first with clear diversity targets. A special thanks must go to Niklas Zennstrom. Our over-a-decade-strong partnership has been one of the real highlights of my working life.

It’s also impossible to single out all of the inspiring founders I’ve had the privilege to work with, and companies that I’ve helped to become part of Atomico’s portfolio. Many of these founders have become close friends, as we shared some incredible experiences together.

I believe passionately that the world needs European entrepreneurs to aim for the stars and bridge the widening gap between the world’s economic powerhouses. Where most see Europe as Silicon Valley’s less ambitious cousin, I see huge potential, across multiple European countries.

My interest has always been in the earliest stages. With a lot of downstream capital, there is a big opportunity to create outsized returns investing in the formative years into the best and brightest founders in Europe.

We now have over 100 $1bn companies in Europe, with some having reached $50bn in valuation. There is a new generation of founders coming out of these success stories, which is breeding further success. If I can help entrepreneurs at the very start of their journeys to create the right foundations to drive growth exponentially, I’ll be doing what I’m meant to be doing. That is why I founded Moonfire.

I also see enormous potential to collaborate with the angel ecosystem, to strengthen and expand its capabilities through our software. I believe it’s time to reimagine how venture capital adds value by embracing technology to help with discovery, evaluation and more efficient provision of support for the most promising ventures. The potential is very exciting.

2020 has been a year of change, challenge and growth at Moonfire. We have made our first investments and could not be more thrilled to be working with a group of the brightest and best founders around.

We invest across Europe with a key focus on the UK, France and the Nordics, and our investment areas are the future of work, gaming, healthcare SaaS and fintech. These are areas I have been fortunate enough to be involved in with $bn outcomes.

The Moonfire team is growing fast and the future is bright. Watch this space.