After 18 years of focus on Europe, early-stage investor Seedcamp has raised 320 million dollars (around 295 million euros) for its latest fund - and with that money it's heading to the United States. It's the largest fund in the firm's history, double the 180 million dollars it raised in 2023.

The money is split: 220 million dollars goes toward early-stage investments through Seedcamp VII, and the remaining 100 million is set aside for later-stage growth investments, through a new fund called Select. Seedcamp already has offices in New York and Miami, but now it wants to expand its team in the US in order to connect its European companies with American clients and capital.

"We have to connect founders with the bridges that connect," said Reshma Sohoni, co-founder of Seedcamp, pointing to the fact that San Francisco and Silicon Valley are once again becoming the centre of gravity for the tech world.

And there's the quiet story Europe doesn't want to hear: a fund that spent 18 years building European startups now carries the money across the Atlantic because the biggest opportunities are there again. How many European founders, as soon as they grow, end up in San Francisco instead of Berlin, Paris or London? Balkan startups are at the even further end of the same flow - built at home, sold or relocated upward. Capital always finds its way to power, and power in tech still speaks English with a Californian accent.