London and San Francisco-based venture capital firm Index Ventures has announced the addition of $1.65bn (£1.24bn) in new funding for tech startups.
Now the UKs largest startup investor, Index has seen its strongest year yet so far in 2018, with exits in the last four months from Adyen, Dropbox, Izettle and Zuora. It has also backed familiar names like Funding Circle, Just Eat and Skype among dozens of others.
“With our transatlantic presence in San Francisco and London and with $1.65 billion in new capital, we believe we are well positioned to support the next generation of entrepreneurs building transformative global businesses,” said Index partner Jan Hammer.
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The funding will be split across the firms two funds, with $1bn being dedicated to growth stage investment and $650m heading into its ninth venture fund for earlier-stage businesses.
Known for its ability to select startups that have gone on to achieve billion-dollar valuations, Indexs backing has become a signal to investors of which companies are the ones to watch in tech.
Index has raised a total of $7.65bn for investing in startups since it was founded in 1996, with today's funding coming in even higher than its last raise in 2016 of $1.25bn.
The firm mentioned that the $1bn set aside for its growth fund will be specifically going towards companies like Deliveroo, Farfetch, Robinhood, Revolut and Slack, indicating that these startups will be looking to Index for fresh funding rounds in the near future.
Read more: What would it take to produce Europe's first tech titan?
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