Lakestar was founded in 2012 by Klaus Hommels, a former Benchmark Capital Europe venture partner already famous for early personal bets on Skype, Facebook, and Spotify before the firm even existed. Since raising its first institutional fund in 2013, Lakestar has grown into one of Europe's largest venture platforms, managing more than €2 billion across early-stage and growth vehicles, with offices spanning Zurich, Berlin, London, New York, and Hong Kong. In October 2025, the firm announced a significant strategic shift: rather than raising further generalist funds from outside LPs, Hommels will now invest primarily from his own personal capital going forward, concentrating on doubling down on existing bets like Revolut and defense-technology unicorn Helsing, alongside a dedicated $300 million Resilience Fund launched in July 2026 for European defense and dual-use technology.
Spotify's 2018 New York Stock Exchange direct listing - one of Klaus Hommels' early European conviction bets, made years before the streaming company reached mainstream household status