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
- 67
- Total
- €11.2bn
- Median
- €100m
- Threshold
- From €10m
Funds
Updated 21 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
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
Eighth European early-stage fund with an AI focus
- Sectors
- AI
- Invests in
- Pan-European
- Track
- Fund 8
- Closed
- 1 Oct 2026
Regional fund for innovative start-ups and SMEs based in Lazio, seed to late growth
- Sectors
- Generalist
- Invests in
- Italy (Lazio)
- Track
- Fund 8
- First Close
- 29 Sept 2026
- Manager
- Vertis SGR
Deep tech spin-offs and startups from research to industrialization
- Sectors
- Deep Tech, Climate & Energy, Industrial Tech, Defence & Security
- Invests in
- Italy
- Track
- Emerging manager, fund 2
- First Close
- 28 Sept 2026
- Manager
- Eureka! Venture SGR
Early-stage fund for learning and future-of-work startups
- Sectors
- AI, B2B Software, Health & Bio
- Invests in
- Pan-European
- Track
- Fund 3
- First Close
- 16 Sept 2026
- As reported
- USD 72m
- Public LPs
- EIF
Nordic seed to Series A fund for fintech and AI-driven B2B
- Sectors
- Fintech, AI, B2B Software, Defence & Security
- Invests in
- Nordics
- Track
- Fund 5
- Closed
- 11 Sept 2026
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
Ninth early-stage fund dedicated to Europe and Israel
- Sectors
- Generalist
- Invests in
- Europe | Israel
- Track
- Fund 9
- Closed
- 12 Aug 2026
- As reported
- USD 800m
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
Defence, security and resilience technology across the European defence stack
- Sectors
- Defence & Security, Deep Tech, AI
- Invests in
- Europe
- Track
- Emerging manager, fund 1
- Final Close
- 17 Jul 2026
- As reported
- USD 300m
Fund backing European defence and security founders early
- Sectors
- Defence & Security
- Invests in
- CEE
- Track
- Emerging manager, fund 2
- Final Close
- 7 Jul 2026
- Public LPs
- EIF, PFR, Polish Development Bank, NATO Innovation Fund
AI-enabled company building in food and agriculture (agtech, animal health, crop protection)
- Sectors
- Food & Agri, AI
- Invests in
- Global
- Track
- Fund 3
- First Close
- 15 Jun 2026
- As reported
- USD 100m (target USD 200m)
Global fintech fund backed by Santander, seed to Series C
- Sectors
- Fintech, AI
- Invests in
- Global
- Track
- Fund 3
- First Close
- 19 May 2026
- As reported
- USD 400m (BeBeez: EUR 343.4m)
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
Early-stage fund for AI applications, software infrastructure and deep tech
- Sectors
- AI, B2B Software, Deep Tech
- Invests in
- Pan-European
- Track
- Fund 8
- Closed
- 30 Apr 2026
- Manager
- Earlybird Venture Capital
Industrial tech fund backing Industry 4.0 founders in Europe
- Sectors
- Industrial Tech
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Final Close
- 29 Apr 2026
Venture creation and early-stage biotech fund for therapies for severe diseases
- Sectors
- Health & Bio
- Invests in
- Pan-European
- Track
- Fund 4
- Final Close
- 23 Apr 2026
- Manager
- Kurma Partners
- Public LPs
- EIF, Bpifrance
Solo-GP fund for AI-first companies, mainly early stage
- Sectors
- AI, Deep Tech, Defence & Security
- Invests in
- Europe | North America
- Track
- Fund 3
- Closed
- 23 Mar 2026
- As reported
- USD 232.3m
Deeptech fund built with Politecnico di Milano ecosystem
- Sectors
- Deep Tech
- Invests in
- Italy
- First Close
- 23 Mar 2026
- Manager
- 360 Capital
- Public LPs
- EIF, CDP Venture Capital
Early-stage fund for European digital businesses
- Sectors
- AI, B2B Software
- Invests in
- Iberia
- Track
- Fund 3
- First Close
- 11 Mar 2026
- Public LPs
- KfW, SETT
Early-stage fund for quantum and physics-based startups
- Sectors
- Deep Tech
- Invests in
- Global (Europe focus)
- Track
- Emerging manager, fund 2
- Closed
- 22 Feb 2026
- Public LPs
- EIF, Bpifrance
University-research-based startups via network of 50+ universities
- Sectors
- Deep Tech, AI, B2B Software
- Invests in
- Global
- Track
- Emerging manager, fund 1
- Closed
- 4 Feb 2026
- As reported
- USD 110m
Growth fund for proven European B2B climate companies
- Sectors
- Climate & Energy
- Invests in
- Pan-European
- Track
- Emerging manager, fund 1
- First Close
- 4 Feb 2026
- Public LPs
- EIF, Bpifrance
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
Fund backing European science-driven deeptech founders
- Sectors
- Deep Tech
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Final Close
- 29 Jan 2026
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
Urban and industrial climate tech fund for Europe
- Sectors
- Climate & Energy
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Final Close
- 26 Jan 2026
- Public LPs
- EIFO
Science-based deeptech and university spinouts in the Nordics
- Sectors
- Deep Tech, Industrial Tech
- Invests in
- Nordics
- Final Close
- 16 Dec 2025
Energy tech fund for digital, asset-light grid and flexibility solutions
- Sectors
- Climate & Energy
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- Closed
- 16 Dec 2025
- Public LPs
- EIF, KfW Capital, BGK
Dedicated Italy energy tech fund, fully financed by CDP
- Sectors
- Climate & Energy
- Invests in
- Italy
- Track
- Emerging manager
- Closed
- 16 Dec 2025
- Manager
- Future Energy Ventures
- Public LPs
- CDP Venture Capital
Fund backing Spanish and European founders at seed and Series A
- Sectors
- Generalist
- Invests in
- Iberia
- Track
- Fund 4
- First Close
- 15 Dec 2025
- Public LPs
- EIF, CDTI Innvierte
Founder-first Europe fintech fund, seed and Series A, cheques EUR 0.5-4m
- Sectors
- Fintech
- Invests in
- Europe
- Track
- Emerging manager, fund 1
- Final Close
- 18 Nov 2025
- As reported
- USD 75m
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
Dedicated European defence and security technology fund
- Sectors
- Defence & Security
- Invests in
- Pan-European
- First Close
- 18 Nov 2025
- Public LPs
- EIF
European founders building internationally scalable companies, lead tickets EUR 1-15m
- Sectors
- AI, Deep Tech, Climate & Energy
- Invests in
- Europe
- Track
- Fund 5
- First Close
- 17 Nov 2025
- Manager
- XAnge (Siparex Group)
- Public LPs
- EIF, Bpifrance
Flagship early-stage biotech and medtech fund
- Sectors
- Health & Bio
- Invests in
- Europe | North America
- Track
- Fund 11
- Closed
- 17 Nov 2025
- Manager
- Sofinnova Partners
Asset-centric biotech company creation and investments at all stages
- Sectors
- Health & Bio
- Invests in
- Global
- Track
- Fund 5
- Closed
- 14 Nov 2025
Impact-driven investing in the global food system and food supply chain tech
- Sectors
- Food & Agri
- Invests in
- Europe
- Track
- Fund 2
- Final Close
- 11 Nov 2025
- Public LPs
- KfW, EIF
European cybersecurity fund backing early-stage cyber founders
- Sectors
- Defence & Security
- Invests in
- Pan-European
- Track
- Fund 5
- Final Close
- 6 Nov 2025
- Public LPs
- EIF, Invest-NL
Biotech and green chemistry for industrial sustainability in food, agriculture, materials
- Sectors
- Food & Agri, Climate & Energy, Industrial Tech
- Invests in
- Europe | North America
- Track
- Fund 1
- Final Close
- 5 Nov 2025
- Public LPs
- KfW Capital, EIFO
B2B startups at the intersection of digital technology and hard science
- Sectors
- B2B Software, Deep Tech, AI, Fintech, Health & Bio, Defence & Security
- Invests in
- Iberia | Europe
- Track
- Fund 4
- First Close
- 5 Nov 2025
- Public LPs
- EIF, SETT
8-12 early-stage European B2B software companies, backing founders
- Sectors
- B2B Software
- Invests in
- Europe
- Track
- Fund 5
- First Close
- 4 Nov 2025
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
Stage-agnostic quantum technology fund
- Sectors
- Deep Tech
- Invests in
- Global (Europe focus)
- Track
- Emerging manager, fund 1
- First Close
- 2 Oct 2025
- Public LPs
- EIFO
Fund for AI and energy transition founders in France and Europe
- Sectors
- AI, Climate & Energy
- Invests in
- France
- Track
- Fund 4
- First Close
- 1 Oct 2025
Sixth fund backing early-stage European AI startups
- Sectors
- AI
- Invests in
- France
- Track
- Fund 6
- Final Close
- 22 Sept 2025
Early-stage climate tech across power, transport, buildings, industry, agriculture, circular economy
- Sectors
- Climate & Energy
- Invests in
- UK
- Track
- Fund 2
- First Close
- 18 Aug 2025
- As reported
- GBP 49m (target GBP 150m)
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
Regional early-stage and growth fund for eastern Ruhr area tech startups
- Sectors
- Generalist
- Invests in
- Germany (NRW)
- First Close
- 2 Jul 2025
- Manager
- VORNvc (Lars Hane, Nico Hemmann)
- Public LPs
- NRW.BANK
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
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)
Early growth tech companies beyond start-up stage with hands-on support
- Sectors
- B2B Software, Climate & Energy, Deep Tech
- Invests in
- Belgium
- Track
- Fund 3
- First Close
- 3 Jun 2025
Global vertical AI fund across consumer, health, fintech and energy
- Sectors
- AI, Consumer, Health & Bio, Fintech, Mobility
- Invests in
- Global (approx. 50% Europe)
- Track
- Fund 3
- Final Close
- 27 May 2025
- As reported
- USD 1bn
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
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)
Late-seed and Series A fund for energy, defence and dual-use tech
- Sectors
- Climate & Energy, Defence & Security
- Invests in
- CEE | Western Europe
- Track
- Emerging manager, fund 2
- Final Close
- 16 May 2025
Early-stage fund for AI and data-driven software founders
- Sectors
- AI, B2B Software
- Invests in
- Pan-European
- First Close
- 11 Mar 2025
Consumer health fund, mainly Series A, backed by Schwabe
- Sectors
- Health & Bio, Consumer
- Invests in
- Europe | North America
- First Close
- 18 Feb 2025
Early-stage flagship plus opportunity fund for Series B and later
- Sectors
- Generalist
- Invests in
- Pan-European
- Track
- Fund 5
- Closed
- 4 Feb 2025
- As reported
- USD 500m across two vehicles, split not disclosed
Nordic tech and life science companies at startup and growth stages
- Sectors
- Deep Tech, Health & Bio
- Invests in
- Nordics
- Track
- Fund 2
- Final Close
- 30 Jan 2025
- Manager
- Fahraeus Startup & Growth (FSG)
- As reported
- SEK 848m
- Public LPs
- EIF, Saminvest
Backing women-led startups and products built for women
- Sectors
- Health & Bio, Climate & Energy
- Invests in
- Europe
- Closed
- 29 Jan 2025
Fund for startups decarbonising rail, road, air and maritime transport
- Sectors
- Mobility, Climate & Energy
- Invests in
- Global (Europe focus)
- Track
- Emerging manager, fund 1
- Final Close
- 27 Jan 2025
- Public LPs
- EIF, Bpifrance
Digital health and medtech fund for European founders
- Sectors
- Health & Bio
- Invests in
- Pan-European
- Track
- Emerging manager, fund 2
- First Close
- 9 Jan 2025
- Manager
- Capricorn Partners
- Public LPs
- Invest-NL, PMV, finance&invest.brussels
Early and growth stage tech companies in Europe, avg ticket EUR 5m
- Sectors
- Generalist
- Invests in
- Europe
- Track
- Fund 3
- Final Close
- 7 Jan 2025
- Manager
- P101 SGR
- Public LPs
- EIF
Showing 12 of 67 funds
