(Bloomberg) — Venture capital firm Atomico has tapped former Revolut Ltd. executive Don Hoang as its newest partner, giving it a seasoned leader to back companies with a focus on the financial technology and mobility sectors.
Hoang joins London-based Atomico as the firm is raising $1.35 billion in new funds for financing startups, Bloomberg News reported in March. Led by Skype co-founder Niklas Zennstrom, Atomico was founded in 2006 and has backed startups including Klarna Bank AB and Stripe Inc.
Previously Revolut’s vice president of global business and before that an executive at Uber Technologies Inc., Hoang said in an interview that he will make investments at the Series A and growth stages and sees opportunity in the emerging field of decentralized finance.
Amid turbulence in private markets and plunging public technology stocks, Hoang said he still saw opportunity in Europe’s booming venture sector as established US funds open up local branches. He said Atomico was suited to weather the current market since it backs startups at the earlier stages.
“There’s something special happening in the European venture community at the moment. You see all these funds coming to Europe, you see a lot of opportunity,” Hoang said. “We’re quite well diversified to handle volatility at any one stage of the cycle.”
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