Sifted - Europe’s 100 most active investors

Good morning there,

When JP Morgan acquired an almost 50% stake in Viva Wallet, one of Greece’s biggest fintech companies, it was hailed as a triumph for the country's fledgling startup ecosystem. 

But three years on, the relationship between the two has soured after disputes over Viva Wallet's valuation and alleged breaches of the pair's shareholder agreement led to a long-running legal drama.

Now Viva Wallet's CEO has filed an injunction against JPM, Sifted has learned, in an attempt to block the banking giant from pursuing any further lawsuits or takeover attempts. 

Sifted approached JPM for comment. 

Elsewhere today:

• The 100 most active VCs in Europe
• What Europe's startups can learn from DeepMind
• Ex-General Catalyst and La Famiglia investor Judith Dada joins Visionaries Club

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🔧 Tencent-backed startup Ultraleap has been sold for parts, laying off more than half its staff in the process.

💰 London-based Linq, the app helping people protect their intimate images, has raised a pre-seed funding round.  

✍️ Exclusive: Former La Famiglia and General Catalyst investor Judith Dada is joining Berlin-based VC Visionaries Club as a general partner.

🧠 European startups could learn a lot from DeepMind — but institutional investors need to step up if they’re to have any chance of repeating its success, writes our editorial director John Thornhill. 

🇺🇸 Though a lot of Europe’s most active LPs are regional public-private investors like the European Investment Fund, some of the US’s largest LPs have been backing European VC funds for years. 

💸 Sifted tracked the 100 most active investors in 2024 — and the startups they backed.

Sifted Talks | Online. On March 12, fintech reporter Tom Matsuda is bringing together panellists from Flo Health, Cherry Ventures and Navan to discuss the new CFO mindset —how to balance profit with growth. RSVP here.

Sifted Talks | Online. Sifted senior reporter Freya Pratty is joined by Dexory and Yamato to discuss how expanding into the APAC market can offer startups a world of opportunities — but it requires meticulous planning. RSVP here.

Sifted Summit 2025 — tickets have dropped!

Registration for Sifted Summit 2025 is officially live! From October 8-9 at Magazine London, 3,000+ founders, operators and investors will come together to shape the future of European tech. Experience the Sifted magic live and in person.

Eindhoven, the Netherlands-based Axelera AI, which develops AI hardware, raised up to €61.6m in grant funding from the EU's EuroHPC Joint Undertaking programme. 

Grenoble, France-based Renaissance Fusion, which is developing magnetic confinement fusion reactors, raised €32m in Series A funding. Crédit Mutuel Impact led the round and was joined by investors including Lowercarbon Capital.

Espoo, Finland-based Steady Energy, which designs and operates heat-only small modular reactors, raised €22m in funding. 92 Ventures led the round and was joined by investors including Lifeline Ventures.

Zug, Switzerland-based Validation Cloud, which provides blockchain infrastructure to businesses, raised $15m in Series A funding. True Global Ventures led the round and was joined by investors including Cadenza, Blockchain Founders Fund, Side Door Ventures and AP Capital. 

London-based Citizens of Soil, which brings extra-virgin olive oil from small producers to consumers, raised €2.1m in seed funding. Figr Ventures led the round. 

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