Lakestar is a Zurich-based venture capital firm founded by Klaus Hommels, one of Europe’s most prominent technology investors. The firm is known for its early investments in global leaders such as Spotify, Revolut, and Skype. Lakestar manages multiple funds across Europe and invests in both early and growth-stage companies with a strong focus on transformative technology sectors. Over the years, it has become one of Europe’s leading venture firms with a reputation for backing ambitious founders building globally scalable businesses.
Lakestar invests primarily in European and global technology startups, covering sectors such as:
The firm seeks out companies with strong product-market fit and scalable models that can expand internationally.
It is stage-agnostic within venture, participating in seed, early, and later-stage rounds.
In September 2025, Lakestar closed a US$265 million continuation fund, one of the largest of its kind in the European venture ecosystem. The continuation vehicle was anchored by Lexington Partners, with additional commitments from Industry Ventures and Performance Equity Management.
The oversubscribed fund enables Lakestar to transfer select portfolio assets from four existing funds into this new structure.
The move provides liquidity for limited partners seeking partial exits while allowing Lakestar and existing LPs to extend exposure to high-performing portfolio companies.
Leadership
The firm is led by founder and chairman Klaus Hommels, a veteran investor who has backed some of Europe’s most successful technology companies. Hommels was an early investor in Facebook, Skype, Spotify, and Revolut, and he continues to play a central role in shaping Lakestar’s strategy. In addition to his role at Lakestar, Hommels serves as chair of the NATO Innovation Fund, underscoring his influence in Europe’s defence and dual-use technology ecosystem.
Investment Strategy
Lakestar’s strategy combines long-term conviction in transformative technologies with flexibility across investment stages. The continuation fund reflects its approach to actively manage exposure over longer horizons, enabling LPs to balance liquidity with ongoing upside participation.
Its separate focus on defense technology shows a willingness to evolve with geopolitical and market trends, positioning the firm at the intersection of venture capital, national security, and industrial policy.
Lakestar remains committed to backing globally ambitious founders, often leading rounds and providing strategic support as companies scale across markets.
Notable Investments
Lakestar has been an early investor in many high-profile technology companies, including:
Its portfolio spans consumer, fintech, and enterprise technology, with companies that have become household names in Europe and beyond.
Notable Exits
The firm has seen successful exits from companies such as:
These exits underscore Lakestar’s ability to identify and support category-defining European startups that achieve global reach.
Other
Lakestar is increasingly active in both traditional venture categories and emerging sectors such as defense technology. Its continuation fund structure provides portfolio companies with longer-term capital support during periods when IPO or M&A markets are slow.
This means founders backed by Lakestar may benefit from extended partnership horizons, reducing pressure for premature exits.
The firm’s strong relationships with institutional investors and policymakers also enhance its ability to open doors at the highest levels in Europe.
