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Headquartered in London and co-founded by Estonian talent, venture company Plural is in early talks to raise a €1B third fund, reports Sifted. This would mark one of the largest VC vehicles ever raised by a European firm founded by startup operators.
If the fundraising succeeds, it will represent a dramatic growth from Plural’s previous vehicles: a €250M debut fund in 2022 and a €400M second fund in 2024. The new raise would come just four years after the firm’s launch.
Plural was co-founded by Estonian tech veterans Taavet Hinrikus (co-founder of Wise) and Sten Tamkivi (former Skype executive), alongside Ian Hogarth and Khaled Helioui. The firm maintains offices in both London and Tallinn.
The founding team identified a critical gap in European venture capital: only 8% of European investors have operational backgrounds, compared to over 50% in the United States. Plural positions itself as a hands-on investor, leveraging the founders’ experience building and scaling global tech companies.
The firm has already backed several high-profile European startups, including nuclear fusion company Proxima Fusion, defense tech decacorn Helsing, and spacetech firm The Exploration Company. Plural typically leads early-stage rounds, investing from €1 million to €10M.
Fundraising remains at an early stage, and Plural has not commented publicly on the reported target. The firm is seeking commitments from both European and international limited partners. For Estonia, it could be yet another story of continuous growth and development of the local ecosystem — aside from being a land of startup unicorns, the country is now getting its first local billion-dollar VC fund.
