Edinburgh‑based Baillie Gifford positions itself as one of the few growth‑stage investors operating across Europe. Through a $500 million venture fund it backs Series C and later rounds, counting alumni such as Spotify, Vinted, Bending Spoons, Northvolt and Revolut. Its strategy contrasts with the United States, where deep‑pocketed funds dominate late‑stage rounds.

The dearth of late‑stage funding forces promising startups to look south, often seeking US dollars or private‑equity exits. Baillie Gifford’s approach aims to keep growth capital onshore, preserving jobs and intellectual property within the EU. Analysts note that the fund’s track record—multiple unicorn exits—could encourage other limited partners to allocate more to European growth. Without such backing, founders often dilute early, weakening future fundraising prospects.

With Europe’s venture pool estimated at under €30 billion for later rounds, Baillie Gifford’s $500 million vehicle represents a sizable slice of available liquidity. By staying active in Series C‑plus deals, the firm hopes to bridge the financing gap and spur a new wave of home‑grown champions. It also nudges rivals to act, signalling that patient capital still has a role in Europe’s tech revival.