Skype founders focus on European startups

The founders of internet telephony player Skype are looking to work their magic elsewhere in the tech sector, as their investment vehicle, Atomico Ventures II completes fundraising, to the tune of $165m.

Atomico II will focus primarily on Europe, and will seek to invest in early stage, high growth technology companies, with the goal to provide outsized returns to investors over the long term.

Niklas Zennström and Janus Friis, the founders of Kazaa, Skype, and more recently, the Joost IPTV venture, are some of the biggest investors in the new fund. “We will seek to invest in exceptional entrepreneurs who are building exceptional businesses.  We will target companies that we believe have the potential to generate significant growth, transform their industries, and deliver strong returns,” said Zennström.