Seedcamp, an investment fund aimed at early-stage European startups, has announced the first close of its fourth seed fund at £41 million ($54 million). Founded in 2007 by around 30 European investors, Seedcamp has often been compared to Y Combinator in the U.S. and has invested in more than 250 startups that have gone on to raise more than $1 billion in subsequent funding. With Fund IV, London-based Seedcamp ushers in around 60 limited partners, including Index Ventures, Atomico, Idinvest Partners, and the U.K. government-backed British Business Bank.