Beyond AI: Six startup opportunities in Europe
Six sectors where European expertise, needs and regulatory changes are opening up new markets.
Read on Substack- Matching funds
- 72
- Total
- €5.3bn
- Median
- €55m
- Threshold
- From €10m
Funds
Updated 21 Oct 2026
Pre-seed fund for Southern European founders and diaspora
- Sectors
- Generalist
- Invests in
- Southern Europe
- Track
- Emerging manager, fund 2
- Closed
- 19 Oct 2026
Capital-efficient B2B software plus pre-seed deeptech via Nauta Labs
- Sectors
- B2B Software, Deep Tech
- Invests in
- Europe
- Track
- Fund 6
- First Close
- 15 Oct 2026
- Public LPs
- British Business Bank, SETT
Early-stage Nordic deeptech with industrial investors as LPs and partners
- Sectors
- Deep Tech, Industrial Tech, Defence & Security, Climate & Energy
- Invests in
- Nordics
- Track
- Emerging manager, fund 1
- Final Close
- 9 Oct 2026
- As reported
- SEK 608m
- Public LPs
- Saminvest, EIF
Nordic pre-seed fund investing before product-market fit
- Sectors
- AI, B2B Software
- Invests in
- Nordics
- Track
- Emerging manager, fund 2
- Final Close
- 8 Oct 2026
- Public LPs
- EIFO
Pre-seed to Series A, technology: B2B, deeptech and SaaS
- Sectors
- Deep Tech, B2B Software
- Invests in
- Romania, South Eastern Europe and diaspora
- Track
- Fund 2
- Final Close
- 2 Oct 2026
- Manager
- GapMinder Ventures
- As reported
- USD 85 million
- Public LPs
- EIF, EBRD
Pre-seed/seed in CEE, SEE and diaspora, cheques EUR 0.3-3m
- Sectors
- Generalist
- Invests in
- CEE | SEE
- Track
- Fund 3
- First Close
- 1 Oct 2026
- Public LPs
- EIF, EBRD
Third fund of MuleSoft founder Ross Mason, focused on AI infrastructure
- Sectors
- AI, B2B Software
- Invests in
- Pan-European
- Track
- Fund 3
- Closed
- 1 Oct 2026
- As reported
- USD 120m
Medtech company creation fund building startups from inception
- Sectors
- Health & Bio
- Invests in
- Europe | US
- Track
- Fund 4
- Final Close
- 28 Sept 2026
- Manager
- Sofinnova Partners
Pre-seed fund for European teams with deep technical founders
- Sectors
- Generalist
- Invests in
- Pan-European
- Track
- Fund 5
- First Close
- 23 Sept 2026
- As reported
- USD 55m first close of USD 80m fund
- Public LPs
- British Business Bank
Pre-seed fund for Belgian B2B SaaS founders
- Sectors
- B2B Software
- Invests in
- Belgium
- Track
- Emerging manager, fund 1
- Final Close
- 21 Sept 2026
- Manager
- NewSchool VC
Vertical AI B2B software, at least 70% in EU/EEA companies with Italian establishment
- Sectors
- AI, B2B Software
- Invests in
- Italy | Europe
- Track
- Fund 2
- First Close
- 8 Sept 2026
- Manager
- The Techshop
- Public LPs
- CDP Venture Capital
Fund backing female-led European startups at pre-seed and seed
- Sectors
- Generalist
- Invests in
- DACH
- Track
- Emerging manager, fund 2
- Final Close
- 1 Sept 2026
- Public LPs
- EIF
Industrial AI, sensors, robotics and autonomy
- Sectors
- Industrial Tech, AI, Deep Tech
- Invests in
- Nordics
- Track
- Fund 2
- First Close
- 25 Aug 2026
- Public LPs
- Investinor
Founder-backed fund supporting new technology companies, incl. AI and robotics
- Sectors
- AI, Generalist
- Invests in
- Italy
- Track
- Fund 1
- Final Close
- 27 Jul 2026
- Manager
- Koinos Capital SGR
Pre-seed climate, health and resilience, up to EUR 500k per company
- Sectors
- Climate & Energy, Health & Bio, AI, Deep Tech
- Invests in
- Europe
- Closed
- 15 Jul 2026
- Public LPs
- EIF, Saminvest, SmartCap
Seed fund backing repeat founders in Europe and North America
- Sectors
- Generalist
- Invests in
- Europe | North America
- Track
- Fund 3
- Closed
- 1 Jul 2026
- As reported
- USD 80m (EUR 70m per source)
- Public LPs
- British Business Bank
Debut seed fund for cybersecurity startups in the UK and Canada
- Sectors
- Defence & Security
- Invests in
- UK | Canada
- Track
- Emerging manager, fund 1
- Final Close
- 29 Jun 2026
- As reported
- GBP 60m (hard cap; GBP 50m reported 2025-04-07)
- Public LPs
- British Business Bank
Impact fund for market-first European startups
- Sectors
- Generalist
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Closed
- 22 Jun 2026
Flagship early-stage fund for European founders in software, AI and science
- Sectors
- AI, B2B Software, Deep Tech
- Invests in
- Pan-European
- Track
- Fund 7
- Closed
- 22 Jun 2026
- As reported
- USD 220m (plus USD 100m Select Fund II, not counted)
Gen-Z run fund for earliest-stage Nordic founders
- Sectors
- Generalist
- Invests in
- Nordics
- Track
- Fund 3
- Final Close
- 17 Jun 2026
Angel, pre-seed and seed investments
- Sectors
- Generalist
- Invests in
- Europe
- Track
- Fund 3
- Final Close
- 11 Jun 2026
AI-native companies, concentrated portfolio of 25-30 startups
- Sectors
- AI
- Invests in
- Europe
- Track
- Fund 4
- Closed
- 9 Jun 2026
Pre-seed fund for scientist founders in European deep tech
- Sectors
- Deep Tech, AI, Health & Bio
- Invests in
- Pan-European
- Track
- Emerging manager, fund 1
- Final Close
- 8 Jun 2026
- As reported
- USD 56m
- Public LPs
- EIFO, KfW Capital
Vertical AI fund for early-stage European founders
- Sectors
- AI
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- First Close
- 5 Jun 2026
- Manager
- Curiosity VC
Pre-idea to seed fund for applied and physical AI across Europe
- Sectors
- AI
- Invests in
- Pan-European
- Closed
- 4 Jun 2026
Founder-first Nordic early-stage fund, community-powered model
- Sectors
- Generalist
- Invests in
- Nordics
- Track
- Fund 3
- Final Close
- 2 Jun 2026
AI-only pre-seed and seed fund backed by AI founders
- Sectors
- AI
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Closed
- 22 May 2026
Pediatric health fund investing in research-based spinouts from academia and hospitals
- Sectors
- Health & Bio
- Invests in
- Europe
- First Close
- 7 May 2026
- Manager
- Ship2B Ventures
- Public LPs
- EIF, CDTI Innvierte
UK impact fund for health, essential services and sustainable consumption
- Sectors
- Health & Bio, Consumer, Climate & Energy
- Invests in
- UK
- Track
- Emerging manager, fund 2
- Final Close
- 13 Apr 2026
- As reported
- GBP 80m (USD 107m)
- Public LPs
- British Business Bank
Pre-seed fund for CEE founders building global products
- Sectors
- Generalist
- Invests in
- CEE
- Track
- Fund 5
- Closed
- 24 Mar 2026
- Manager
- Credo Ventures
- As reported
- USD 88m
Energy transition and industrial tech fund for Poland
- Sectors
- Climate & Energy, Industrial Tech
- Invests in
- CEE
- Track
- Emerging manager, fund 1
- First Close
- 20 Mar 2026
- Public LPs
- EIF, PFR Ventures
Fund backing founders outside traditional venture networks in France
- Sectors
- Generalist
- Invests in
- France
- First Close
- 12 Mar 2026
- Manager
- daphni, Les Determines, Live for Good, HEC Paris (alliance)
Deeptech seed fund for French and European B2B founders
- Sectors
- Deep Tech, B2B Software
- Invests in
- France
- Track
- Fund 3
- Final Close
- 12 Mar 2026
- Public LPs
- Bpifrance
Inception and pre-seed fund for AI-first Baltic software founders
- Sectors
- AI, B2B Software
- Invests in
- Baltics
- Track
- Emerging manager, fund 2
- Closed
- 6 Mar 2026
- Public LPs
- ILTE, Lithuanian Ministry of Economy and Innovation
IP-driven European tech from pre-seed to Series B across AI, cybersecurity, techbio and industrial innovation
- Sectors
- B2B Software, AI, Deep Tech
- Invests in
- Pan-European
- Track
- Fund 5
- First Close
- 1 Feb 2026
- Public LPs
- Bpifrance
Industry-agnostic early-stage, deep tech and AI, about 35 startups
- Sectors
- Deep Tech, AI, Industrial Tech
- Invests in
- Europe
- Track
- Fund 5
- Final Close
- 28 Jan 2026
Green transition deeptech fund for the Nordics
- Sectors
- Climate & Energy, Deep Tech
- Invests in
- Nordics
- Track
- Emerging manager, fund 1
- Final Close
- 27 Jan 2026
- Public LPs
- EIFO
Impact fund backing early-stage European founders
- Sectors
- Generalist
- Invests in
- DACH
- Track
- Fund 5
- First Close
- 19 Jan 2026
- Public LPs
- EIF, NRW.BANK
Pre-seed and seed fund for European digital health startups
- Sectors
- Health & Bio
- Invests in
- Pan-European
- Track
- Emerging manager, fund 1
- First Close
- 9 Dec 2025
- Manager
- Catalpa Ventures
Impact fund for startups serving vulnerable groups, decarbonisation and ecosystem regeneration
- Sectors
- Health & Bio, Climate & Energy
- Invests in
- Spain | Europe
- Track
- Fund 2
- First Close
- 18 Nov 2025
- Manager
- Ship2B Ventures
- Public LPs
- EIF
Pre-seed and seed fund for frontier-tech founders with global ambition
- Sectors
- Deep Tech, AI, Fintech
- Invests in
- Pan-European
- Track
- Fund 3
- Closed
- 13 Nov 2025
- Manager
- Backed VC
- As reported
- USD 100m (cap)
Early-stage impact tech with at least one underrepresented founder on core team (climate, health, education)
- Sectors
- Climate & Energy, Health & Bio, Consumer
- Invests in
- Nordics
- Track
- Fund 2
- First Close
- 11 Nov 2025
- Public LPs
- EIF, EIFO
Impact fund backing early-stage Dutch founders solving societal problems
- Sectors
- Generalist
- Invests in
- Netherlands
- Track
- Fund 3
- First Close
- 4 Nov 2025
- Public LPs
- EIF, Invest-NL, Oost NL, BOM
Largest single VC fund raised in Finland, first Luxembourg fund of Lifeline
- Sectors
- Generalist
- Invests in
- Nordics | Europe
- Track
- Fund 6
- First Close
- 27 Oct 2025
Early-stage European healthtech founders, first tickets about EUR 0.5m
- Sectors
- Health & Bio
- Invests in
- Europe
- Track
- Fund 2
- Closed
- 24 Oct 2025
- Manager
- Calm/Storm Ventures
Barcelona-based fund backing early-stage Iberian and European founders
- Sectors
- Generalist
- Invests in
- Iberia
- Track
- Fund 3
- Final Close
- 1 Oct 2025
- Public LPs
- EIF, CDTI Innvierte
Sector-agnostic pre-seed fund for UK and European founders
- Sectors
- Generalist
- Invests in
- UK | Europe
- Track
- Emerging manager, fund 2
- Closed
- 30 Sept 2025
- As reported
- USD 88m
Vertical AI, recommerce platforms and marketplaces, cheques EUR 0.25-2.5m
- Sectors
- AI, Consumer
- Invests in
- Global
- Track
- Fund 3
- First Close
- 25 Sept 2025
Debut pre-seed and seed fund for Baltic and Nordic founders
- Sectors
- Generalist
- Invests in
- Baltics | Nordics
- Track
- Emerging manager, fund 1
- Closed
- 17 Sept 2025
- Public LPs
- ALTUM
Electrification fund backing early-stage founders in Europe
- Sectors
- Climate & Energy, Mobility
- Invests in
- DACH
- Track
- Emerging manager, fund 1
- Final Close
- 9 Sept 2025
- Public LPs
- EIF, NRW.BANK
Network-driven debut fund for early-stage European founders
- Sectors
- Fintech, Climate & Energy
- Invests in
- Pan-European
- Track
- Emerging manager, fund 1
- Final Close
- 28 Jul 2025
- As reported
- USD 25m (BeBeez: EUR 21.3m)
Impact fund for early-stage founders solving global problems
- Sectors
- Climate & Energy, Industrial Tech, Mobility, Food & Agri
- Invests in
- Netherlands
- Track
- Fund 4
- First Close
- 18 Jul 2025
- Public LPs
- EIF, Invest-NL
Early-stage tech in Rhineland/NRW and Euregio Meuse-Rhine, pre-seed and seed
- Sectors
- Deep Tech, Health & Bio, B2B Software, Industrial Tech
- Invests in
- Germany (NRW)
- Track
- Fund 2
- Final Close
- 17 Jul 2025
- Manager
- TVF Management
- Public LPs
- NRW.BANK
Estonian fund backing pre-seed and seed defence-tech founders
- Sectors
- Defence & Security
- Invests in
- Baltics
- Track
- Emerging manager, fund 1
- First Close
- 9 Jul 2025
- Public LPs
- SmartCap
Super-angel style debut fund for pre-seed and seed startups
- Sectors
- Health & Bio, Fintech, Consumer
- Invests in
- UK
- Track
- Emerging manager, fund 1
- Final Close
- 3 Jul 2025
- As reported
- USD 26.3m
Tickets up to EUR 1m in German and European startups, Mittelstand network
- Sectors
- Industrial Tech, Climate & Energy, B2B Software
- Invests in
- Germany | Europe
- Track
- Emerging manager, fund 1
- Final Close
- 1 Jul 2025
Early-stage gaming startups
- Sectors
- Consumer
- Invests in
- Nordics | Europe
- Track
- Emerging manager, fund 1
- Final Close
- 27 Jun 2025
- As reported
- SEK 550m
- Public LPs
- EIF
Pan-CEE generalist pre-seed to Series A, about 25 startups, up to EUR 20m follow-on reserve per company
- Sectors
- Generalist
- Invests in
- CEE
- Track
- Fund 5
- First Close
- 25 Jun 2025
Pre-seed and seed fund with operational platform for European tech
- Sectors
- Fintech, AI, Defence & Security
- Invests in
- Pan-European
- Track
- Fund 5
- Closed
- 24 Jun 2025
- Manager
- Project A Ventures
CEE fund investing from pre-seed to Series A
- Sectors
- Generalist
- Invests in
- CEE
- Track
- Emerging manager, fund 2
- First Close
- 23 Jun 2025
- Public LPs
- EBRD, PFR Ventures
European tech for construction, real estate and skilled trades (decarbonisation, digitalisation)
- Sectors
- Industrial Tech, Climate & Energy
- Invests in
- Europe
- First Close
- 17 Jun 2025
- Manager
- Realyze Ventures (Bitstone Capital)
Agrifood fund for Nordic startups transforming food systems
- Sectors
- Food & Agri
- Invests in
- Nordics
- Track
- Emerging manager, fund 2
- First Close
- 5 Jun 2025
- Public LPs
- EIF
Follow-on capital for top portfolio plus new investments in gen AI, cyber, climate
- Sectors
- AI, Climate & Energy
- Invests in
- Europe
- Track
- Fund 2
- Final Close
- 26 May 2025
- Manager
- Picus Capital
Pre-seed deeptech with technical in-house expertise, about 20% in US outside Bay Area
- Sectors
- Deep Tech, AI
- Invests in
- Europe | US
- Track
- Fund 2
- Closed
- 20 May 2025
NHS-anchored fund for health tech, now transatlantic
- Sectors
- Health & Bio
- Invests in
- UK | US
- Closed
- 19 May 2025
- Manager
- Meridian Health Ventures (formerly KHP Ventures)
- As reported
- GBP 30m (USD 40m; USD 50m total commitments)
Pre-seed deep tech fund for industrials, energy and compute
- Sectors
- Deep Tech, Industrial Tech, Climate & Energy
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Closed
- 23 Apr 2025
Specialist fund for planetary and societal health startups
- Sectors
- Climate & Energy, Health & Bio
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Closed
- 10 Apr 2025
- Public LPs
- EIF
First institutional fund for early-stage European B2B and AI startups
- Sectors
- B2B Software, AI
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Closed
- 10 Apr 2025
- As reported
- USD 100m
Biotech accelerator creating and backing European biotechs
- Sectors
- Health & Bio
- Invests in
- Europe
- Track
- Fund 2
- Final Close
- 18 Mar 2025
- Manager
- Sofinnova Partners
Vienna fund backing female-led European startups at pre-seed and seed
- Sectors
- Generalist
- Invests in
- DACH
- Track
- Emerging manager, fund 1
- Final Close
- 25 Feb 2025
- Public LPs
- EIF, aws
Inception-stage fund for Nordic founders from Antler residencies
- Sectors
- Generalist
- Invests in
- Nordics
- Track
- Fund 2
- Closed
- 13 Feb 2025
- As reported
- USD 100m
- Public LPs
- EIFO, SmartCap, Tesi
Pre-seed and seed, EUR 100k to 1m+ tickets, technology startups with a Cyprus connection
- Sectors
- Generalist
- Invests in
- Cyprus
- Track
- Emerging manager, fund 1
- First Close
- 21 Jan 2025
- Public LPs
- EIF
Showing 12 of 72 funds
