Global venture capital firm, Index Ventures has raised $2 billion to fund startups in their early and late stages. The fundraising comes at a time startups are unsure of where their next funding will come from next due to the disruption in the business environment caused by the Coronavirus pandemic.
The fund will be split among startups to help lift their operation from the ground. Index Venture intends to be a leverage for the next generation of founders with groundbreaking ideas and innovations, which will be critical to the world’s social and economic recovery after the pandemic.
In a statement seen by Nairametrics, the international venture capital firm said:
“In such challenging times, it is heart-warming to see so many business founders responding swiftly to the crisis on their doorstep and committing support to others.
“As we navigate these choppy waters, we are witnessing the emergence of a new generation of exceptional leaders who, by doing the right thing not only for their business but for the people it touches, will inspire the long-term loyalty of colleagues, customers and others they work with.”
What does this mean for startups: With the $2 billion that is available, startups who can come up with innovations that could offer needed help during this COVID-19 pandemic, now stand a chance to access funding.
The VC is known for working with entrepreneurs and their companies at every stage regardless of the sector.
“Over several decades, we have been lucky to see the entrepreneurial spirit of gifted leaders shining through in good times and prior crises. As we adjust to absorb and mitigate the devastating human impact of the pandemic, we count on their leadership and inspiration.
“Innovation is often born out of adversity, and we have no doubt that the vision of future founders will be critical to the world’s social and economic recovery; their fresh thinking driving growth in the economy and building our resilience in the face of future threats. We are proud to have raised $2bn in new funds to support this next generation of entrepreneurs,” the statement read.
Index Ventures said it understands emerging into a “great company” from a startup level isn’t a walk in the park. This is why it would keep offering the necessary backing startups need to mitigate funding challenges.
“Closing the circle, the success of our entrepreneurs, in turn, helps to fund the research organisations, universities, medical institutes and pension funds that comprise our investor base.”