Balderton Capital

Balderton Capital, a London-based venture capital firm founded in 2000, has established itself as a leading backer of European technology startups. With over $4.5 billion raised across ten funds, the firm transitioned to a multi-stage investment strategy in 2021, deploying capital from early-stage Series A rounds (typically $1M–$20M) to growth-stage investments ($25M–$50M). While primarily focused on Europe, Balderton occasionally participates in U.S. deals, particularly in sectors like enterprise software, fintech, and controlled environment agriculture (CEA).

Investment Focus & Track Record

Balderton prioritizes technology startups across industries, with a historical emphasis on SaaS, fintech, and digital health. Its portfolio includes 470+ companies, with 65 exits and 14 unicorns. The firm has demonstrated interest in controlled environment agriculture through two notable investments: vertical farming company Infarm and insect protein startup Better Origin. Balderton led Infarm’s $25M Series A in 2018 and participated in later funding rounds totaling $400M+ before the company ceased operations. In 2025, Balderton co-led Better Origin’s $16M Series A to scale AI-powered insect mini-farms for sustainable animal feed production, though this venture also ultimately closed.

Fund Structure & Investment Criteria

The firm manages separate early-stage and growth funds, with 2024’s $615M Early Stage Fund IX targeting Series A/B rounds and $680M Growth Fund II supporting later-stage companies. Balderton typically seeks founding teams with strong technical backgrounds and scalable business models, favoring sectors where technology drives operational efficiency. While greenhouse operators might find alignment through Balderton’s sustainability focus, its portfolio trends toward asset-light technology platforms rather than capital-intensive infrastructure projects.