Sprints, Early Backer of Revolut and Vinted, Raises €725 Million Fund

Sprints Capital, the venture firm whose early bets included Revolut and Vinted, has raised a €725 million fund. Bloomberg reported the close. The figure marks one of the largest venture raises disclosed in Europe this cycle, and it arrives from a firm with two of the continent's most valuable startups on its list of past investments.

For a sense of scale: €725 million is more than most European seed firms manage across their entire history. Sprints raised it in a single vehicle.

Who is Sprints?

The firm built its reputation on early-stage positions in companies that later became category leaders. Revolut, the London-based banking app, grew into one of Europe's most valuable fintechs. Vinted, the Lithuanian second-hand fashion marketplace, became the country's first tech unicorn. Sprints held stakes in both before those outcomes were obvious.

That track record is the mechanism behind the raise. Limited partners commit capital to firms that have already returned it on comparable bets. Two breakout wins from the Baltic region give Sprints a pitch most regional rivals cannot match.

What does the money buy?

A €725 million fund changes what a firm can do at each stage of the market:

• Larger initial cheques. More capital per deal means the firm can lead rounds rather than follow them.
• Reserves for winners. Funds of this size typically hold back half or more of the corpus to double down on portfolio companies that gain traction.
• Staying power. A deep reserve lets the firm defend ownership through later rounds without forcing early exits.

Bloomberg's report identifies the firms' backers only by outcome: the investors who once funded Revolut and Vinted now have €725 million more to deploy.

Why does the size matter now?

European venture fundraising has tightened since the easy-money years. Investors have concentrated capital in fewer, proven managers. A close of this scale signals that concentration has a beneficiary.

The comparison worth holding onto: Sprints once wrote the early cheques behind Revolut and Vinted. Its new €725 million fund now has to find the next two.