European tech investor Balderton launches $400 million start-up fund

LONDON (Reuters) - European venture capital firm Balderton Capital is launching a $400 million fund to invest in technology start-ups, bringing its total funds under management to $3 billion, it said on Tuesday.

Total venture capital funding in European start-ups hit a record high of 24.6 billion euros ($27.11 billion) in 2018, Balderton said in a statement.

“Europe has the potential to build the next generation of technology giants...we are seeing more and more exceptional founders,” said Bernaud Liautaud, managing partner at Balderton.

Balderton’s current portfolio includes Healx, which uses artificial intelligence to accelerate treatments for rare diseases, and digital account provider Revolut.

Reporting by Carolyn Cohn, editing by Louise Heavens