Venture capital firm Lakestar has completed a $265 million continuation fundraise

ChainCatcher news, according to Techfundingnews, European venture capital firm Lakestar, which has made early investments in Spotify and Revolut, has completed a $265 million continuation fund raise, with secondary market specialists Lexington Partners, Industry Ventures, and Performance Equity Management serving as anchor investors.

This oversubscribed fund allows Lakestar to transfer equity from four existing funds into the new fund, thereby extending the holding period for portfolio companies while providing liquidity for limited partners looking to exit. Lakestar founder and chairman Klaus Hommels stated that this fund is one of the largest continuation funds in the European venture capital space.