The fund will primarily invest in Seed and A rounds across Europe with sufficient capital to follow and support startups from early to late stage financing.

Stockholm-based VC firm Creandum said on Monday it has closed ahead of schedule its 180-million euro early stage venture capital fund Creandum IV.

“The high demand points to a thriving European startup ecosystem and Creandum’s robust track record of investing early into European leaders such as Spotify, iZettle, Neo Technologies and Tictail,” the company said in a statement.

The fund will primarily invest in Seed and A rounds across Europe with sufficient capital to follow and support startups from early to late stage financing. “Creandum has been privileged to be backed by world class investors since the start. The same investors have been coming back and this year we are honored to see new European, Middle East and US pension funds and endowments join as investors in the fund. These investors all believe in the European startup opportunity and back Creandum’s early stage focus.” said Staffan Helgesson, General Partner, Creandum Advisor AB.

The first Creandum fund launched in 2003 with Creandum spending most of its capital over past decade within the Nordic startup scene. According to Creandum research, the region has produced nearly 10% of the world’s and 50% of Europe’s billion dollar tech exits over the past 10 years.

Creandum said it had also appointed Greg Anderson to head its PR and marketing activities.