Spotify’s Ek Builds ‘Insane’ $1 Billion Bet on Early Tech
- His year-old investment firm focuses on European startups
- Early investments include H2 Green Steel, Germany’s Helsing
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Daniel Ek is looking beyond Spotify Technology SA.
His investment firm, Prima Materia, has bet on a green-steel startup as well as on funds focused on artificial intelligence, life sciences and climate. Ek’s company, which started operating in February 2021, also allocated 100 million euros ($113.5 million) to German security firm Helsing in November -- all part of Ek’s plan to put about $1 billion of his wealth in European startups.