Good news for European startups: Balderton Capital, the VC firm that has invested in the likes of LoveFilm, MySQL and Betfair, has raised $305 million for its fifth European fund, bringing its total European investment funds to $2.2 billion.

Balderton is one of the veterans of the European tech scene, initially operating as Benchmark Capital Europe before rebranding in 2007. The total value of its previously-backed companies amounts to more than $10 billion.

It says the latest funds will be used for Series A investments where it sees “the best opportunities for long-term investments in high potential companies.” The fund was raised chiefly from its existing  partners, as well as newcomer the European Investment Fund.