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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstall20VC closed a $400 million third fund focused on European startups, TechCrunch reported on October 15, 2024. Harry Stebbings said $125 million was earmarked for seed investments and $275 million for Series A rounds. The fund had not yet been deployed at the time of his interview; the report does not establish its later deployment, investments or performance.
How 20VC’s $400 million fund was allocated
The reported fund totals $400 million, divided between two investment stages:
| Stage | Reported allocation |
|---|---|
| Seed | $125 million |
| Series A | $275 million |
These are the allocations reported by TechCrunch on October 15, 2024. The article presents the fund as Stebbings’ third investment vehicle.
Why Stebbings said the fund would focus on Europe
Stebbings framed the fund as a commitment to European startups and to drawing attention to their potential. “I’m really fed up of everyone shitting on Europe,” he told TechCrunch, adding, “We have unbelievable companies, and we have incredible people. We need to make Europe great again. MEGA!”
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The phrase describes Stebbings’ stated ambition, not a measured finding about Europe’s technology sector relative to the United States. TechCrunch reported that most of the fund’s backers were based in the U.S., and that more than half of those U.S. backers were institutional investors.
What was known about deployment at the time
Stebbings told TechCrunch that the new fund had not yet been deployed because 20VC was still investing from its second fund, which raised $140 million in 2021. That is the status reported at the time of the October 2024 interview, not confirmation of the fund’s current status.
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TechCrunch also reported that 40 founders—including people from Atlassian, Canva, Deliveroo, Spotify, UiPath and Vinted—invested in the fund, alongside general partners from several venture firms. Backer identities do not establish the fund’s portfolio or its investment performance.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the reported fundraise does—and does not—tell you
Stebbings said the fundraising process took four weeks; TechCrunch attributed that timeline to him rather than independently verifying it. The fund size, stated allocation and backers describe its fundraising and intended investment strategy. They do not show which companies received funding or whether the fund generated returns.
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The October 15, 2024 report does not establish whether 20VC later deployed the fund, which startups it backed, or how it performed. Its deployment status should therefore be read as a historical snapshot, not a current update.
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