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20VC closes new $400M fund to 'make Europe great again' says Harry Stebbings | TechCrunch

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Summary
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75% Informative

Harry Stebbings' 20VC has closed a $400 million fund, his third investment vehicle.

The fund will focus on backing startups in the region, using his media nous and connections to bring more attention to them overall.

The majority of the backers in this fund are out of the U.S. , with more than half of that institutional money.

European VCs have a strong suit to play with European startups.

Stebbings has yet to change the economics of VC , however.

He predicts that for 1% of firms, VC returns will be much, much bigger than ever, though, and better than ever.

With a lot of the firms he’s invested in still relatively young, and the IPO market still dead, he says.

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