Beyond AI: Six startup opportunities in Europe
Six sectors where European expertise, needs and regulatory changes are opening up new markets.
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FundStageHQClosedSize €m
- 230.0
Backs Benelux mid-sized businesses through buyouts, carve-outs, succession situations, operational improvement and buy-and-build strategies.
- Generalist
- Benelux
- Fund 5
- 19 Dec 2025
- VE Partners
- 30.0
Pre-seed and seed in semiconductors, photonics and advanced materials; up to EUR 1m initial tickets, about 20 companies.
- Deep Tech
- Europe
- Emerging manager, Fund 1
- 18 Dec 2025
- Cloudberry VC
- Tesi
- 60.0
Science-based deeptech and university spinouts in the Nordics
- Deep Tech, Industrial Tech
- Nordics
- Emerging manager, Fund 1
- 16 Dec 2025
- PSV
- 205.0
Energy tech fund for digital, asset-light grid and flexibility solutions
- Climate & Energy
- Pan-European
- Fund 2
- 16 Dec 2025
- Future Energy Ventures
- EIF, KfW Capital, BGK
- 30.0
Dedicated Italy energy tech fund, fully financed by CDP
- Climate & Energy
- Italy
- 16 Dec 2025
- Future Energy Ventures
- CDP Venture Capital
- 100.0
Fund backing Spanish and European founders at seed and Series A
- Generalist
- Iberia
- Fund 4
- 15 Dec 2025
- Kibo Ventures
- EIF, CDTI Innvierte
- 11.4
Early growth CEE tech past seed, tickets EUR 1-3m
- Generalist
- CEE
- PLN
- Emerging manager
- 11 Dec 2025
- Cofounder VC
- PLN 48.5m (Perplexity only)
- PFR
- 10.0
Pre-seed and seed fund for European digital health startups
- Health & Bio
- Pan-European
- Emerging manager, Fund 1
- 9 Dec 2025
- Catalpa Ventures
- 75.0
Fourth early-stage fund for SaaS and marketplace companies with an AI focus, mostly in France.
- B2B Software
- France (over 80%)
- Fund 4
- 3 Dec 2025
- ISAI
Seed and Series A fund for enterprise software, AI and fintech, cheques of EUR 1-5m.
- B2B Software
- not found
- Fund 3
- 3 Dec 2025
- 6 Degrees Capital
- 20.0
Frontier tech founders (AI, spacetech, cyber), helping European startups reach the US
- Deep Tech, AI, Defence & Security
- Europe, US
- Emerging manager
- 2 Dec 2025
- Draper B1
- FondICO Global, Instituto Valenciano de Finanzas
- 600.0
Growth-stage deeptech scaleups in Europe: semiconductors, medical devices, advanced materials, applied AI, energy management.
- Deep Tech
- Europe
- Fund 5
- 27 Nov 2025
- Jolt Capital
- EIF
- 11.4
Pre-seed and seed investments in European founders, about 80 investments over three years.
- Generalist
- Europe
- GBP
- Emerging manager, Fund 1
- 24 Nov 2025
- Onstage
- GBP 10m
- 60.6
Early-growth fund investing in quantum technology companies at Series A and B.
- Deep Tech
- Global
- USD
- Emerging manager
- 24 Nov 2025
- Firgun Ventures
- USD 70m (target USD 250m)
- 5,000.0
Makes majority investments in non-cyclical growth companies in healthcare, technology and payments and financial services, driving business transformation and earnings growth.
- Generalist
- Fund 12
- 20 Nov 2025
- Nordic Capital
- 64.7
Founder-first Europe fintech fund, seed and Series A, cheques EUR 0.5-4m
- Fintech
- Europe
- USD
- Emerging manager, Fund 1
- 18 Nov 2025
- Shapers
- USD 75m
Impact fund for startups serving vulnerable groups, decarbonisation and ecosystem regeneration
- Health & Bio, Climate & Energy
- Spain, Europe
- Fund 2
- 18 Nov 2025
- Ship2B Ventures
- EIF
- 150.0
Dedicated European defence and security technology fund
- Defence & Security
- Pan-European
- 18 Nov 2025
- Keen Venture Partners
- EIF
- 200.0
European founders building internationally scalable companies, lead tickets EUR 1-15m
- AI, Deep Tech, Climate & Energy
- Europe
- Fund 5
- 17 Nov 2025
- XAnge (Siparex Group)
- EIF, Bpifrance
Flagship early-stage biotech and medtech fund
- Health & Bio
- Europe, North America
- Fund 11
- 17 Nov 2025
- Sofinnova Partners
- 500.0
Asset-centric biotech company creation and investments at all stages
- Health & Bio
- Global
- Fund 5
- 14 Nov 2025
- Medicxi
- 80.0
Specialist B2B SaaS fund for AI-first start-ups, about 20 companies across Nordics and Baltics.
- B2B Software
- Nordics, Baltics
- Fund 4
- 13 Nov 2025
- Vendep Capital
- Tesi
- 86.1
Pre-seed and seed fund for frontier-tech founders with global ambition
- Deep Tech, AI, Fintech
- Pan-European
- USD
- Fund 3
- 13 Nov 2025
- Backed VC
- USD 100m (cap)
- 100.0
Impact-driven investing in the global food system and food supply chain tech
- Food & Agri
- Europe
- Fund 2
- 11 Nov 2025
- Oyster Bay
- KfW, EIF
Early-stage impact tech with at least one underrepresented founder on core team (climate, health, education)
- Climate & Energy, Health & Bio, Consumer
- Nordics
- Fund 2
- 11 Nov 2025
- Unconventional Ventures
- EIF, EIFO
- 70.0
Debut fund for dual-use and frontier tech in space, health and industrial resilience around the Baltic Sea.
- Defence & Security
- Baltic Sea region
- Emerging manager, Fund 1
- 7 Nov 2025
- Balnord
- EIF, PFR Ventures
- 400.0
Buys French SMEs and mid-cap companies with solid fundamentals and transformation potential, supporting operational improvement and development.
- Generalist
- France
- Fund 3
- 6 Nov 2025
- FCDE
- 80.0
European cybersecurity fund backing early-stage cyber founders
- Defence & Security
- Pan-European
- Fund 5
- 6 Nov 2025
- TIN Capital
- EIF, Invest-NL
- 30.0
Seed fund for Italian tech founders as first institutional investor
- Generalist
- Italy
- Emerging manager
- 6 Nov 2025
- Alternative Capital Partners SGR (Step Venture)
- CDP Venture Capital
- 200.0
Biotech and green chemistry for industrial sustainability in food, agriculture, materials
- Food & Agri, Climate & Energy, Industrial Tech
- Europe, North America
- Fund 1
- 5 Nov 2025
- Forbion
- KfW Capital, EIFO
- 120.0
B2B startups at the intersection of digital technology and hard science
- B2B Software, Deep Tech, AI, Fintech, Health & Bio, Defence & Security
- Iberia, Europe
- Fund 4
- 5 Nov 2025
- Armilar Venture Partners
- EIF, SETT
- 30.0
Pre-seed and seed deeptech and emerging technology: hardware, dual-use, medtech; backed by 100+ founders and operators.
- Deep Tech
- Europe
- Emerging manager, Fund 1
- 4 Nov 2025
- United Founders
- 67.6
8-12 early-stage European B2B software companies, backing founders
- B2B Software
- Europe
- Fund 5
- 4 Nov 2025
- henQ
- 70.0
Impact fund backing early-stage Dutch founders solving societal problems
- Generalist
- Netherlands
- Fund 3
- 4 Nov 2025
- Rubio Impact Ventures
- EIF, Invest-NL, Oost NL, BOM
- 226.0
Targets control investments in Italian founder-led and family-owned businesses, supporting them through structured buy-and-build programmes.
- Business Services
- Italy
- Emerging manager, Fund 3
- 1 Nov 2025
- Bravo Invest
- 459.0
Invests in Nordic lower-mid-market technology, business-services and healthcare companies through Axcel’s private-equity ownership model.
- Technology, Business Services, Health & Bio
- Nordics
- 1 Nov 2025
- Axcel
- 105.0
Acquires predominantly controlling stakes in established Italian SMEs and supports strategic focus, professionalisation, organic growth and acquisitions.
- Generalist
- Italy
- Fund 3
- 31 Oct 2025
- Arcadia SGR S.p.A.
- EIF
- 625.0
Partners with entrepreneurs and management teams in Benelux and DACH mid-market businesses to improve operations and support sustainable growth.
- Generalist
- Benelux and DACH
- Fund 7
- 31 Oct 2025
- Bencis Capital Partners B.V.
- 2,500.0
Invests in healthcare opportunities under a strategy focused on better, faster, and more accessible healthcare.
- Health & Bio
- Pan-European and transatlantic; Europe and the United States
- Fund 4
- 28 Oct 2025
- GHO Capital Partners
- 400.0
Largest single VC fund raised in Finland, first Luxembourg fund of Lifeline
- Generalist
- Nordics, Europe
- Fund 6
- 27 Oct 2025
- Lifeline Ventures
- 100.0
Growth-equity fund for 12 to 15 consumer scale-ups in beauty, wellness, nutrition and longevity.
- Consumer
- not found
- Emerging manager, Fund 2
- 24 Oct 2025
- Iris Ventures
- 27.0
Early-stage European healthtech founders, first tickets about EUR 0.5m
- Health & Bio
- Europe
- Fund 2
- 24 Oct 2025
- Calm/Storm Ventures
- 275.0
Acquires majority positions in French defence and security SMEs and mid-caps through LBO transactions and supports their growth.
- Defence & Security
- France
- 23 Oct 2025
- Weinberg Capital Partners
- 65.0
Growth capital for profitable climate and energy transition companies that outgrew venture capital.
- Climate & Energy
- Europe
- Emerging manager, Fund 1
- 22 Oct 2025
- SevenGen Investment Partners
- EIF
- 21.0
Alumni-funded pre-seed and seed fund for deeptech in AI, climate, health and industry 4.0.
- Deep Tech
- not found
- Fund 2
- 21 Oct 2025
- Polytechnique Ventures (Equitis Gestion)
- 33.6
Early-stage climate tech and decarbonisation: utility tech, agro and food tech, proptech, mobility, circular economy, data.
- Climate & Energy
- Southern Europe
- Emerging manager, Fund 1
- 10 Oct 2025
- The Climate Hub SGEIC (Sorigué, Antai)
- FondICO Global, ICF
- 350.0
Scale Nordic B2B software businesses with hands-on operational support.
- B2B Software
- Nordic region
- Fund 2
- 2 Oct 2025
- Monterro
- 134.0
Stage-agnostic quantum technology fund
- Deep Tech
- Global (Europe focus)
- Emerging manager, Fund 1
- 2 Oct 2025
- 55 North
- EIFO
- 890.0
Growth buyouts and strategic minority investments in European B2B technology-enabled services across financial and enterprise technology.
- Fintech, B2B Software, Business Services
- Pan-European; European-headquartered businesses
- Emerging manager, Fund 1
- 1 Oct 2025
- Aspirity Partners
- 130.0
Growth fund for Greek deep tech companies
- Deep Tech
- Greece, Europe
- Fund 2
- 1 Oct 2025
- Big Pi Ventures
Barcelona-based fund backing early-stage Iberian and European founders
- Generalist
- Iberia
- Fund 3
- 1 Oct 2025
- 4Founders Capital
- EIF, CDTI Innvierte
- 200.0
Fund for AI and energy transition founders in France and Europe
- AI, Climate & Energy
- France
- Fund 4
- 1 Oct 2025
- Serena
- 30.0
Regional early-stage fund backing B2B, AI, industrial automation and climate start-ups in Münsterland and neighbouring regions.
- Generalist
- Münsterland, Ostwestfalen-Lippe, Osnabrück region
- Emerging manager
- 30 Sept 2025
- May Ventures
- NRW.BANK
- 110.7
Growth fund backing best portfolio companies and selective external scale-ups in AI-driven business software
- B2B Software, AI
- Europe
- USD
- Fund 3
- 30 Sept 2025
- Notion Capital
- USD 130m (EUR 114m per Perplexity)
- 75.0
Sector-agnostic pre-seed fund for UK and European founders
- Generalist
- UK, Europe
- USD
- Fund 2
- 30 Sept 2025
- Concept Ventures
- USD 88m
- 1,375.0
Scales Nordic B2B software businesses through operational support, networks, and add-on acquisitions.
- B2B Software
- Nordic region
- Fund 5
- 29 Sept 2025
- Monterro
- 50.0
Vertical AI, recommerce platforms and marketplaces, cheques EUR 0.25-2.5m
- AI, Consumer
- Global
- Fund 3
- 25 Sept 2025
- DFF Ventures
- 175.0
Sixth fund backing early-stage European AI startups
- AI
- France
- Fund 6
- 22 Sept 2025
- Ventech
- 21.0
Debut pre-seed and seed fund for Baltic and Nordic founders
- Generalist
- Baltics, Nordics
- Emerging manager, Fund 1
- 17 Sept 2025
- Outlast Fund
- ALTUM
- 50.0
Electrification fund backing early-stage founders in Europe
- Climate & Energy, Mobility
- DACH
- Emerging manager, Fund 1
- 9 Sept 2025
- Vireo Ventures
- EIF, NRW.BANK
- 130.0
Takes majority or co-control positions in established regional businesses and scales them through professionalisation, acquisitions and cross-border expansion.
- Health & Bio, Business Services, Consumer
- Romania; Bulgaria; Croatia; Czechia; Poland; Slovakia
- Fund 2
- 3 Sept 2025
- Morphosis Capital Partners BV
- EIF, EBRD
Backs established UK small businesses through management buyouts and buy-and-build strategies, supporting management-led ownership transitions and growth.
- Generalist
- United Kingdom
- GBP
- Fund 2
- 1 Sept 2025
- Coniston Capital Management LLP
- GBP 32m
- 280.0
Acquires majority stakes in growing French SMEs facing ownership or management transitions and drives value through durable operational transformation.
- Business Services
- France
- Fund 3
- 1 Sept 2025
- Sparring Capital
Early-stage climate tech across power, transport, buildings, industry, agriculture, circular economy
- Climate & Energy
- UK
- GBP
- Fund 2
- 18 Aug 2025
- Clean Growth Fund
- GBP 49m (target GBP 150m)
- Strathclyde Pension Fund, Islington local government pension fund, East Riding local government pension fund
- 21.5
Network-driven debut fund for early-stage European founders
- Fintech, Climate & Energy
- Pan-European
- USD
- Emerging manager, Fund 1
- 28 Jul 2025
- BlackWood Ventures
- USD 25m (BeBeez: EUR 21.3m)
- 2,000.0
Invests in European small-cap businesses across services, healthcare, consumer and industrials, with a dedicated pool for smaller development-capital investments.
- Business Services, Health & Bio, Consumer, Industrials
- Benelux; DACH; France; Nordics; United Kingdom
- Fund 4
- 24 Jul 2025
- IK Partners
- 92.0
Impact fund for early-stage founders solving global problems
- Climate & Energy, Industrial Tech, Mobility, Food & Agri
- Netherlands
- Fund 4
- 18 Jul 2025
- SHIFT Invest
- EIF, Invest-NL
- 50.0
Early-stage tech in Rhineland/NRW and Euregio Meuse-Rhine, pre-seed and seed
- Deep Tech, Health & Bio, B2B Software, Industrial Tech
- Germany (NRW)
- Fund 2
- 17 Jul 2025
- TVF Management
- NRW.BANK
- 650.0
Growth fund scaling European AI champions
- AI
- Pan-European
- Fund 4
- 16 Jul 2025
- Eurazeo
- 160.0
Acquires established Spanish B2B businesses and builds sector platforms through operational transformation, technology adoption, acquisitions and international expansion.
- Business Services, B2B Software
- Spain
- 11 Jul 2025
- Kibo Ventures Partners, S.G.E.I.C., S.A.
- CDTI Innvierte
- 15.0
Estonian fund backing pre-seed and seed defence-tech founders
- Defence & Security
- Baltics
- Emerging manager, Fund 1
- 9 Jul 2025
- Darkstar
- SmartCap
- 22.3
Super-angel style debut fund for pre-seed and seed startups
- Health & Bio, Fintech, Consumer
- UK
- USD
- Emerging manager, Fund 1
- 3 Jul 2025
- Araya Ventures
- USD 26.3m
- 112.0
Early-growth European deeptech scale-ups in foundational sectors
- Deep Tech, Defence & Security, AI
- Pan-European
- Fund 2
- 2 Jul 2025
- Omnes Capital
- EIF, Bpifrance
- 40.0
Nordic fund for AI and enterprise software startups
- AI, B2B Software
- Nordics
- Fund 3
- 2 Jul 2025
- Alliance Venture
- Saminvest, Investinor
- 478.6
Partners with founder-led high-growth businesses in the knowledge economy, providing strategic support to accelerate growth.
- Technology, Business Services
- GBP
- Fund 6
- 1 Jul 2025
- Growth Capital Partners
- GBP 411m (final)
- 1,500.0
Takes controlling interests in European middle-market financial and business services companies, supporting revenue growth and active operational development.
- Business Services
- Europe
- Fund 5
- 1 Jul 2025
- Pollen Street Capital
- 49.0
Tickets up to EUR 1m in German and European startups, Mittelstand network
- Industrial Tech, Climate & Energy, B2B Software
- Germany, Europe
- Emerging manager, Fund 1
- 1 Jul 2025
- Match VC
- L-Bank
- 49.5
Early-stage gaming startups
- Consumer
- Nordics, Europe
- SEK
- Emerging manager, Fund 1
- 27 Jun 2025
- Behold Ventures
- SEK 550m
- EIF
- 70.0
Pan-CEE generalist pre-seed to Series A, about 25 startups, up to EUR 20m follow-on reserve per company
- Generalist
- CEE
- Fund 5
- 25 Jun 2025
- KAYA
- 325.0
Pre-seed and seed fund with operational platform for European tech
- Fintech, AI, Defence & Security
- Pan-European
- Fund 5
- 24 Jun 2025
- Project A Ventures
CEE fund investing from pre-seed to Series A
- Generalist
- CEE
- Fund 2
- 23 Jun 2025
- Movens Capital
- EBRD, PFR Ventures
European tech for construction, real estate and skilled trades (decarbonisation, digitalisation)
- Industrial Tech, Climate & Energy
- Europe
- Emerging manager
- 17 Jun 2025
- Realyze Ventures (Bitstone Capital)
- 205.3
Invests in Nordic lower-mid-market companies and supports profitable growth and business transformation through active ownership.
- Generalist
- Nordic lower mid-market
- SEK
- Fund 7
- 16 Jun 2025
- Accent Equity
- SEK 2250m
- 120.0
Acquires non-core or underperforming lower-mid-market businesses and corporate carve-outs, using operational transformation to unlock sustainable growth.
- Consumer, Media & Telecom, Technology
- Western Europe, particularly Germany and the United Kingdom
- Emerging manager, Fund 1
- 10 Jun 2025
- Hypax GmbH
- 194.0
Takes majority or controlling minority positions in established Iberian lower-mid-market businesses, supporting operational improvement, expansion and sector consolidation.
- Generalist
- Spain and Portugal
- Fund 2
- 10 Jun 2025
- Queka Real Partners
- 600.0
Supports Benelux founder-led businesses through management buyouts, succession transactions, international expansion and buy-and-build strategies.
- Generalist
- Companies headquartered in the Netherlands and Belgium
- Fund 6
- 6 Jun 2025
- Gilde Equity Management Benelux
Agrifood fund for Nordic startups transforming food systems
- Food & Agri
- Nordics
- Fund 2
- 5 Jun 2025
- Nordic Foodtech VC
- EIF
- 700.0
Acquires majority stakes in Nordic healthcare businesses across pharmaceuticals, medical technology, specialist pharmaceutical services and related healthcare services.
- Health & Bio
- Nordic lower mid-market
- Fund 2
- 3 Jun 2025
- Impilo
- 12.0
Early growth tech companies beyond start-up stage with hands-on support
- B2B Software, Climate & Energy, Deep Tech
- Belgium
- Fund 3
- 3 Jun 2025
- ScaleFund
Early-stage deep tech fund for Baltic founders
- Deep Tech, Health & Bio, Climate & Energy
- Baltics
- Fund 2
- 3 Jun 2025
- Iron Wolf Capital
- ILTE
- 2,120.0
Acquires majority stakes in profitable founder-owned European service companies with established, scalable business models and pursues buy-and-build growth.
- Business Services, Health & Bio
- DACH; Benelux; Spain; Portugal; United Kingdom; Poland
- Fund 8
- 2 Jun 2025
- Ufenau Capital Partners
Mid-market corporate carve-outs, platform build-ups and complex buyouts of established companies with operational improvement potential.
- Technology, Business Services, Consumer
- Europe and North America; broader strategy page also mentions the UK, continental Europe, North America and Asia
- Fund 5
- 1 Jun 2025
- AURELIUS
- 1,069.9
Takes control positions in established corporate, family and founder-owned mid-market businesses, using revenue-led growth to improve profits.
- Generalist
- United Kingdom; Ireland; Benelux
- GBP
- Fund 5
- 1 Jun 2025
- Exponent
- GBP 900m
- 880.6
Global vertical AI fund across consumer, health, fintech and energy
- AI, Consumer, Health & Bio, Fintech, Mobility
- Global (approx. 50% Europe)
- USD
- Fund 3
- 27 May 2025
- Cathay Innovation
- USD 1bn
- 250.0
Follow-on capital for top portfolio plus new investments in gen AI, cyber, climate
- AI, Climate & Energy
- Europe
- Fund 2
- 26 May 2025
- Picus Capital
Systematic data-driven investing in growth-stage outliers using proprietary AI model
- AI, Fintech, Health & Bio, B2B Software
- Global
- USD
- Emerging manager, Fund 1
- 20 May 2025
- QuantumLight
- USD 250m (hard cap)
- 50.0
Pre-seed deeptech with technical in-house expertise, about 20% in US outside Bay Area
- Deep Tech, AI
- Europe, US
- Fund 2
- 20 May 2025
- Lunar Ventures
Invest in digital health, enterprise healthcare and MedTech companies with a compelling case for scaling within the NHS, providing hands-on support, evidence-building and connections to health systems in the UK and US.
- Health & Bio
- UK, US
- GBP
- Emerging manager, Fund 1
- 19 May 2025
- Meridian Health Ventures (formerly KHP Ventures)
- GBP 30m (USD 40m; USD 50m total commitments)
- Guy’s and St Thomas’ NHS Foundation Trust, King’s College Hospital NHS Foundation Trust, University College London Hospitals NHS Foundation Trust
Late-seed and Series A fund for energy, defence and dual-use tech
- Climate & Energy, Defence & Security
- CEE, Western Europe
- Fund 2
- 16 May 2025
- Rockaway Ventures
- 296.1
Buys established, profitable UK lower-mid-market businesses, using sustainability initiatives, operational improvement and acquisitions to create value.
- Business Services, Technology
- United Kingdom, predominantly regional lower mid-market companies
- GBP
- Fund 5
- 23 Apr 2025
- Palatine
- GBP 254m
- 20.0
Seed investments in early-stage B2B software start-ups across Benelux, about 15 planned.
- B2B Software
- Benelux
- Emerging manager
- 23 Apr 2025
- Volta Ventures
- 35.0
Pre-seed deep tech fund for industrials, energy and compute
- Deep Tech, Industrial Tech, Climate & Energy
- Pan-European
- Fund 2
- 23 Apr 2025
- First Momentum Ventures
- 1,250.0
Partners with entrepreneurs and management teams in Benelux and DACH mid-market businesses, supporting succession, organic growth and acquisitions.
- Generalist
- Benelux and DACH
- Fund 6
- 17 Apr 2025
- Egeria
- 100.0
Specialist fund for planetary and societal health startups
- Climate & Energy, Health & Bio
- Pan-European
- Fund 2
- 10 Apr 2025
- Revent
- EIF
- 90.2
First institutional fund for early-stage European B2B and AI startups
- B2B Software, AI
- Pan-European
- USD
- Fund 2
- 10 Apr 2025
- Dig Ventures
- USD 100m
- 180.6
Makes control investments in founder-led, mission-critical Nordic businesses with asset-light models and strong buy-and-build potential.
- Generalist
- Nordics
- SEK
- Fund 3
- 9 Apr 2025
- MVI Advisors AB
- SEK 2000m
- 4,000.0
Takes majority or control positions in mid-market businesses, primarily in Southern Europe, supporting operational improvement and international expansion.
- Generalist
- Primarily Southern Europe, with selective investments outside the region
- Fund 8
- 3 Apr 2025
- Investindustrial
- 250.0
Growth fund for sustainable tech scale-ups from Series B to IPO
- Climate & Energy, AI, Defence & Security
- Pan-European
- Fund 2
- 2 Apr 2025
- Revaia
- EIF, Bpifrance
- 3,300.0
Backs established European mid-market companies across business services, healthcare, consumer and industrials, supporting growth alongside management.
- Business Services, Health & Bio, Consumer, Industrials
- Benelux; DACH; France; Nordics; United Kingdom
- Fund 10
- 1 Apr 2025
- IK Partners
- 75.0
Early-stage AI fund backing startups founded by Greeks abroad
- AI
- Greece, Europe
- Fund 3
- 1 Apr 2025
- Marathon Venture Capital
- 500.0
Builds Nordic lower-mid-market leaders through organic growth and acquisitions, focusing on technology services, business software and scalable business models.
- B2B Software, Technology
- Nordic lower mid-market
- 26 Mar 2025
- Norvestor
- 4,500.0
Backs founder-led European mid-market businesses in technology, digital consumer, education and business services, including buy-and-build strategies.
- Technology, Consumer, Business Services
- Europe
- Fund 6
- 24 Mar 2025
- Oakley Capital
Biotech accelerator creating and backing European biotechs
- Health & Bio
- Europe
- Fund 2
- 18 Mar 2025
- Sofinnova Partners
- n/d
Fund for cybersecurity, applied AI and digital infrastructure startups
- Defence & Security, AI, Health & Bio
- Pan-European
- Fund 4
- 17 Mar 2025
- Adara Ventures
- 100.0
Early-stage fund for AI and data-driven software founders
- AI, B2B Software
- Pan-European
- Fund 4
- 11 Mar 2025
- OpenOcean
- EIF
- 3,000.0
Targets mid- and upper-middle-market businesses in tech-enabled business services, financial services, and healthcare and life sciences.
- Business Services, Health & Bio
- Europe and North America; allocation by region not stated
- Fund 5
- 5 Mar 2025
- Eurazeo
- 2,800.0
Lower mid-cap strategy combining buyouts and growth investments in businesses typically valued between €100m and €300m.
- Generalist
- UK and Europe
- Fund 5
- 1 Mar 2025
- Bridgepoint
- 430.0
Controls or co-controls European mid-market healthcare, consumer and services companies, using an operator-led model to support growth.
- Health & Bio, Consumer
- Pan-European
- Fund 2
- 1 Mar 2025
- bd-capital
- 1,800.0
Invests in middle-market European software companies and supports founders and management teams in scaling businesses into regional leaders.
- B2B Software
- Dedicated European software markets
- Fund 1
- 25 Feb 2025
- Thoma Bravo
- 28.0
Vienna fund backing female-led European startups at pre-seed and seed
- Generalist
- DACH
- Emerging manager, Fund 1
- 25 Feb 2025
- Fund F
- EIF, aws
- 100.0
Consumer health fund, mainly Series A, backed by Schwabe
- Health & Bio, Consumer
- Europe, North America
- Emerging manager
- 18 Feb 2025
- naturalX Health Ventures
- 96.2
Inception-stage fund for Nordic founders from Antler residencies
- Generalist
- Nordics
- USD
- Fund 2
- 13 Feb 2025
- Antler
- USD 100m
- EIFO, SmartCap, Tesi
- 50.0
Female-led healthtech fund investing in clinical innovation, care infrastructure and health data.
- Health & Bio
- Europe, North America, Israel, Australia
- Fund 3
- 12 Feb 2025
- Nina Capital
- 115.0
Growth investor in energy transition: grid tech, installers, sustainable buildings, home energy and industrial decarbonisation.
- Climate & Energy
- Europe
- Emerging manager, Fund 1
- 11 Feb 2025
- Junction Growth Investors
- EIF, PMV
- 81.6
Debut seed fund, 25 to 30 investments across sectors, focused on France and the Nordics.
- Generalist
- France, Nordics
- USD
- Emerging manager, Fund 1
- 5 Feb 2025
- Emblem
- USD 85m (EUR 80m per frenchweb)
- EIFO, Bpifrance
- 483.8
Early-stage flagship plus opportunity fund for Series B and later
- Generalist
- Pan-European
- USD
- Fund 5
- 4 Feb 2025
- Cherry Ventures
- USD 500m across two vehicles, split not disclosed
- 191.4
Targets control investments in UK and Irish technology and business-services companies, supporting founder-led growth through flexible ownership structures.
- Technology, Business Services
- Primarily UK and Ireland in the manager's stated strategy; counsel additionally permits Channel Islands and Isle of Man and companies with substantial local business interests or revenues.
- GBP
- Emerging manager, Fund 1
- 1 Feb 2025
- Northcote Equity
- GBP 160m (final)
- 300.0
Uses buy-and-build control transactions to scale profitable European companies providing environmental solutions.
- Climate & Energy, Food & Agri, Mobility
- European OECD countries, including Switzerland, the UK and Nordics
- 1 Feb 2025
- Eurazeo
- 73.9
Nordic tech and life science companies at startup and growth stages
- Deep Tech, Health & Bio
- Nordics
- SEK
- Fund 2
- 30 Jan 2025
- Fahraeus Startup & Growth (FSG)
- SEK 848m
- EIF, Saminvest
- 50.0
Backing women-led startups and products built for women
- Health & Bio, Climate & Energy
- Europe
- Emerging manager
- 29 Jan 2025
- Borski Fund
- 220.0
Fund for startups decarbonising rail, road, air and maritime transport
- Mobility, Climate & Energy
- Global (Europe focus)
- Emerging manager, Fund 1
- 27 Jan 2025
- Shift4Good
- EIF, Bpifrance
- 100.0
Seed deeptech in France and Europe: materials, medtech, semiconductors, quantum, energy transition
- Deep Tech, Industrial Tech, Climate & Energy, Health & Bio
- France, Europe
- Fund 3
- 25 Jan 2025
- Supernova Invest
- Bpifrance
- 337.0
Acquires European businesses and accelerates measurable decarbonisation to improve competitiveness, targeting annual carbon-intensity reductions of at least 7.5 percent.
- Climate & Energy
- European SMEs and mid-sized businesses
- 22 Jan 2025
- Argos Wityu
- 3,200.0
Partners with entrepreneurs to help high-growth mid-sized European companies expand, including through strategic acquisitions.
- Technology, Business Services, Health & Bio
- Major Eurozone economies and Switzerland
- Fund 6
- 21 Jan 2025
- Ardian
- 26.0
Pre-seed and seed, EUR 100k to 1m+ tickets, technology startups with a Cyprus connection
- Generalist
- Cyprus
- Emerging manager, Fund 1
- 21 Jan 2025
- 33East
- EIF
- 60.0
Venture capital in high-growth climate and deep tech companies, often university spin-outs.
- Climate & Energy, Deep Tech
- Europe (Italy-focused LP base)
- Emerging manager, Fund 1
- 17 Jan 2025
- Algebris Investments
- CDP Venture Capital
- 250.0
Growth equity fund for European B2B tech after product-market fit
- Fintech, B2B Software, Climate & Energy
- Pan-European
- Fund 3
- 9 Jan 2025
- Smartfin
- EIF
- 51.0
Digital health and medtech fund for European founders
- Health & Bio
- Pan-European
- Fund 2
- 9 Jan 2025
- Capricorn Partners
- Invest-NL, PMV, finance&invest.brussels
- 250.0
Early and growth stage tech companies in Europe, avg ticket EUR 5m
- Generalist
- Europe
- Fund 3
- 7 Jan 2025
- P101 SGR
- EIF
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