Atomico, a European venture capital firm that has invested in the likes of Angry Birds developer Rovio, plans to spend its new $476 million fund on technology start-ups outside Silicon Valley, it said on Tuesday.
While the United States has long dominated venture capital investments in technology, investors have been increasingly drawn to opportunities in Asia and Europe, especially in areas such as e-commerce and gaming.
"Ten years ago people thought you had to be in Silicon Valley to build a global technology business. That is no longer the case,'' said Atomico founder Niklas Zennstrom, a Swedish entrepreneur who co-founded Skype, a Web phone service that was sold to Microsoft for $8.5 billion in 2011.
"We see entrepreneurs from all over the world achieving global success faster than ever before and across every sector of the global economy. Our new fund is aimed squarely at this opportunity,'' he said.
Reuters reported last week that London-based Atomico had wrapped up its third fund, citing a document filed with the U.S. Securities & Exchange Commission.
(Read more: Investors run to Europe for next hot tech start-up)
The venture capital firm said on Tuesday the fund would be dedicated to helping entrepreneurs outside Silicon Valley scale their businesses globally.
Asked which sectors the money could be spent on, Mattias Ljungman, an Atomico partner who also sits on the board of Finnish mobile game maker Supercell, pointed to a current portfolio of investments which includes online games, payments, travel and e-commerce services.