The VC firm, founded by Mattias Ljungman, has announced its first fund with $60 million to invest in startups across Europe. Ljungman previously co-founded Atomico and invested in the likes of Klarna and Viagogo. Moonfire plans to invest between $100,000 and $500,000 in pre-seed funding per company and anything between $1m and $1.5m when it comes to seed funding. It aims to invest in between 10 and 12 start-ups each year.
“We believe a new generation of companies are providing ubiquitous and trusted access to knowledge, capital and well-being. There are three elements driving change – 1) access, 2) efficiency and 3) service quality – what we call “The Golden Triangle”. The interaction between these constituents are catalysing innovation. At Moonfire, we invest in this Golden Triangle, where companies efficiently leverage networks and platforms that offer a higher service quality and create exponential growth,” said the company in a blog post.