432m

Now, Plural itself is scaling up, with a fresh €400 million fund to back what Hogarth refers to as “transformational” startups in the region, bringing more operational know-how to get them running as businesses. Just six months before, Atomico reported, in its annual survey, that startups in Europe had raised a record $100 billion 2021. Plural’s €250 million debut fund itself was arguably a product of that: it was actually intended to be €150 million. Even Plural has sat on some of its money: Hinrikus said in an interview that it’s still making investments out of its first fund. “[With] AI right now, there’s a huge number of people building businesses that look identical to 500 other startups.