Lovable backer Creandum raises $750m for largest-ever fund to back AI boom

Swedish venture capital firm Creandum has raised $750m for its eighth fund, the largest in its history. The raise comes during a rush among investors to back hot AI startups in increasingly large early-stage rounds.

Creandum is known as an early backer of Lovable, and it has also been associated with companies such as Spotify and Klarna. The firm has tripled its presence in San Francisco over the last two years, reflecting a push to get closer to the US market where many leading AI companies are based.

Most of the article's body text is unreadable in the version available, so further details about the fund are not clear. These include how the money will be split across stages and sectors, who the investors are, and how many companies it will back. The page's tags point to topics the full piece touches on, including Anthropic, OpenAI, DeepMind, Emulate and Machenta, but the available text does not show how each is discussed.

The fund matters as a sign of how much capital is flowing to European-founded AI companies, and of Nordic investors expanding their reach into the US to compete for the most sought-after deals.