Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Top Tier raises $310M Europe fund

San Francisco-based Top Tier Capital Partners announced it has raised $310 million for a dedicated European investment fund.

The fund will focus primarily on European funds with some investments in Israel. The Luxembourg-based investment fund seeks to invest broadly across the region, including in niche venture funds and expansion-stage technology startups.

Founded in 2002, Top Tier has nearly $6 billion in capital commitments since inception.

— Joanna Glasner

Funding rounds

Alba Orbital raises $3.4M for earth imaging: Glasgow-based Alba Orbital, a developer of tiny imaging satellites, raised $3.4 million in a seed round led by Metaplanet Holdings with participation from several other funds and individual investors, including Fitbit founder James Park.

— Joanna Glasner

Gelmetix inks £5M: U.K.-based Gelmetix, which is developing a polymer treatment for chronic lower-back pain, closed a £5 million ($7 million) Series C equity financing round led by Seneca Partners. The company will use the capital to support its first in-human trial and study.

— Christine Hall

Illustration: Dom Guzman