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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Funds
FundStageHQAs ofAmount €M
- 4,400.0
Software, data and technology-enabled services; LP memorandum: 'a mix of majority and minority control positions' (Perplexity quote).
- B2B Software, Technology
- Europe
- Fund 3
- 15 Sept 2026
- PSG Equity
- 203.7
Growth fund of listed VC Molten, cornerstoned by British Business Bank
- Generalist
- UK, Europe
- GBP
- Fund 1
- 7 Sept 2026
- Molten Ventures
- GBP 175m first close of GBP 350m target
- British Business Bank
- 105.0
Later-stage European technology companies, spin-out of two ex-Wendel Growth partners
- Generalist
- Europe
- Fund 1
- Aug 2026
- IronWave
- 1,922.8
Growth fund within Index Ventures' USD 2bn raise (USD 3.5bn investing capacity across seed, venture and growth).
- Technology
- Europe and US (Dealroom also mentions Israel)
- USD
- 31 Jul 2026
- USD 2.2bn total after a USD 700m addition on 2026-07-31 (fund launched in 2024 with USD 1.5bn)
- 1,100.0
Growth fund for European technology scale-ups
- B2B Software
- Pan-European
- Fund 6
- 30 Jul 2026
- Highland Europe
- 500.0
Growth-stage dual-use and defence technology (space, air, land, maritime, subsurface); Luxembourg-domiciled fund.
- Defence & Security
- Europe
- Jun 2026
- AVP; Earlybird (advisors, legal manager entity not found)
- 520.0
Healthtech 'growth-buyout and growth equity firm'; Fund II invests 'as both minority and majority investors', EUR 20m to 50m per investment (Lauxera release).
- Health & Bio
- Europe
- Fund 2
- 19 May 2026
- Lauxera Capital Partners
- 75.0
Back high-growth SMEs in consumer and retail, healthcare, and technology-enabled services with equity or quasi-equity and hands-on growth support.
- Consumer, Health & Bio, Technology
- Bulgaria; Romania; Serbia; wider Western Balkans selectively
- Fund 3
- 26 Mar 2026
- Invenio Partners
- 323.3
Minority growth equity investments in domain-expert software and AI companies (wording from Perplexity quote; press release text not read).
- B2B Software, AI
- Europe
- USD
- Fund 3
- 2 Dec 2025
- USD 375m (first and final close, equal to hard cap)
- 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
- 60.6
Early-growth fund investing in quantum technology companies at Series A and B.
- Deep Tech
- Global
- USD
- 24 Nov 2025
- Firgun Ventures
- USD 70m (target USD 250m)
- 875.0
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
- Fund 1
- Nov 2025
- Aspirity Partners
- 114.0
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
- 300.0
Late-stage deeptech financing (health, climate, agriculture, semiconductors, AI, microelectronics).
- Deep Tech
- Europe
- 29 Sept 2025
- Supernova Invest
- 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
- 350.0
Scale Nordic B2B software businesses with hands-on operational support.
- B2B Software
- Nordic region
- Fund 2
- 29 Sept 2025
- Monterro
- 650.0
Growth fund scaling European AI champions
- AI
- Pan-European
- Fund 4
- 16 Jul 2025
- Eurazeo
- 235.0
Management buyouts (MBOs), growth and succession capital.
- Generalist
- Ireland
- Fund 3
- 15 Jul 2025
- MML Growth Capital Partners Ireland
- 303.9
Series B and growth-stage B2B companies, AI and tech infrastructure.
- AI, B2B Software
- Transatlantic (Europe and US); technically a US-registered fund
- USD
- Fund 1
- 14 Jul 2025
- USD 355m secured as of 2025-07-14 (USD 350m external per US filing, USD 5m internal; USD 45m still being raised); target USD 400m (FT report via TechCrunch)
- 1,000.0
Backs owner-managers; explicit control requirement not found.
- Generalist
- Europe and US
- Fund 8
- 2 Jul 2025
- MML Capital
- 1,000.0
Backing owner-managers in European and US mid-market businesses with tailored solutions for growth and international ambitions (MML release).
- Generalist
- Europe and US
- Fund 8
- 2 Jul 2025
- MML Capital Partners
- 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
Late-stage and growth-stage technology companies, part of the European Tech Champions Initiative (ETCI).
- Technology
- Europe and North America, European growth-stage tech
- Fund 1
- 15 Apr 2025
- AVP (Atlantic Vantage Point, formerly AXA Venture Partners)
- EIF
- 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
- 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
- Mar 2025
- Bridgepoint
- 24.1
Later-stage growth rounds for UK deep tech and life sciences companies.
- Deep Tech, Health & Bio
- UK
- GBP
- 24 Feb 2025
- GBP 20m British Patient Capital cornerstone commitment (Committed); fund size GBP 100m (not labelled target or committed in sources)
- British Business Bank
- 115.0
Growth investor in energy transition: grid tech, installers, sustainable buildings, home energy and industrial decarbonisation.
- Climate & Energy
- Europe
- Fund 1
- 11 Feb 2025
- Junction Growth Investors
- EIF, PMV
- 300.0
Minority or majority growth LBOs and development capital in profitable technology and digital businesses.
- Technology
- France; Southern Europe; Switzerland; Benelux
- Fund 3
- 6 Feb 2025
- 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
- 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
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