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Web venture capital firms may be getting more stringent on the kinds of businesses they invest in, but that doesn’t mean there isn’t still m…

Laptop and money
photo: 1suisse

Web venture capital firms may be getting more stringent on the kinds of businesses they invest in, but that doesn’t mean there isn’t still money around for early-stage startups.

Index Ventures is carving out a new seed-level fund, Seed Index, from its existing main fund.

“First, we are allocating a dedicated pool of capital to do seed deals. We aim to do around 20 seed deals in the next 24 months,” writes Index partner Saul Klein. “Second, we are putting a clearer face and focus on what we do in seed.”

Index partners Neil Rimer, Danny Rimer, Klein and Mike Volpi will manage the fund, which is partnering with Klein’s The Accelerator Group; his father Robin is joining as a partner.

Since January ’08, Europe’s top tech VC houses have all raised big new funds totaling $2.37 billion through the economy’s downturn…

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