Lakestar

Quick read

Lakestar is a pan-European multi-stage VC founded in 2012 by Klaus Hommels, with offices in London, Zurich, Berlin, New York, and Hong Kong. It manages over €2.8bn across four early-stage and two growth funds, with landmark early bets on Spotify, Revolut, Klarna, Skype, and Airbnb. In 2025, Hommels signalled a strategic pivot away from generalist funds toward focused themes — particularly defence tech — while the firm closed a $265m continuation vehicle to extend its hold on key portfolio companies.

Key facts

Founded

2012

Founders

Klaus Hommels

Employees

40-47

Sectors

generalist, fintech, enterprise, ai, healthcare

Website

lakestar.com

Investment thesis

Lakestar backs technology-enabled businesses from seed to growth, with a long-standing focus on fintech, deep tech, healthcare, and defence tech. Founded on early wins in consumer internet (Spotify, Airbnb, Revolut), the firm is now pivoting toward concentrated, theme-driven bets — particularly European defence and dual-use technology — rather than generalist fund cycles.

Recent activity

• May 2025fundraise
  Lakestar closed a $265 million continuation fund, allowing it to retain stakes in top portfolio companies including Spotify and Revolut backers for longer. x.com
• Mar 2026investment
  Lakestar co-invested in TYTAN Technologies' $3.5B Series A, one of its largest reported rounds to date. startupintros.com
• Jan 2026investment
  Lakestar backed Antidote in a $5m seed round for AI-driven billing compliance in legal tech. tracxn.com
• Jan 2026investment
  Lakestar participated in GeneralMind's $12m raise for AI-powered supply chain automation. tracxn.com
• Jun 2025press
  Bloomberg reported deteriorating relations between Lakestar and Terra Quantum CEO Markus Pflitsch as the Swiss quantum startup sought a fresh funding round. x.com
• Apr 2025press
  Founder and Chairman Klaus Hommels published a letter signalling Lakestar would no longer raise generalist VC funds, instead concentrating on defence tech and high-conviction themes. linkedin.com
• 2025investment
  Portfolio company Dexory, a UK AI and robotics firm, secured $80m in Series B led by DTCP with Lakestar among existing investors. linkedin.com
• Mar 2025investment
  Lakestar backed Belgian AI startup Ravical with €7.3m to automate professional workflows. linkedin.com

Notable investments

• TYTAN TechnologiesSeries AMar 2026startupintros.com
• AntidoteSeedJan 2026tracxn.com
• GeneralMindSeedJan 2026tracxn.com
• LightiumSeed2025linkedin.com
• DexorySeries B2025linkedin.com
• RavicalSeedMar 2025linkedin.com
• AlanGrowth2024linkedin.com
• Terra QuantumGrowth2022x.com

Key people

Named individuals at the firm. We don't expose direct email or phone — use their LinkedIn for outreach.

• Klaus Hommels · Founder & Chairman
  LinkedIn
• Steven Jacobs · Partner & CPO
• Stephen Nundy · Partner & CTO
• Chris Magazzeni · Partner
  LinkedIn
• Christoph Schuh · Partner
• Markus Wagner · Partner
• Manu Gupta · Partner

Sources

• Lakestar – Startup Intros
• Klaus Hommels | Lakestar
• Bloomberg: Lakestar $265m continuation fund
• Lakestar – Tracxn Investor Profile 2026
• Lakestar | LinkedIn
• Bloomberg: Lakestar vs Terra Quantum
• Lakestar – CB Insights
• Lakestar Advisors – OpenVC

Other VCs in United Kingdom

• Balderton Capital · Early-stage VC, London·
• Atomico · Multi-stage VC, London·
• Molten Ventures · Multi-stage VC, London·
• Octopus Ventures · Early-stage VC, London·
• Hoxton Ventures · Seed VC, London·
• Episode 1 Ventures · Seed VC, London

Explore VCs by sector

• Generalist in United Kingdom
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Globally

• Generalist worldwide
• Fintech worldwide
• Enterprise software worldwide

Frequently asked