Munich, Germany · Venture Capital 10xDNA is a Munich-based deep-tech venture capital firm founded by serial entrepreneur and Die Hoehle der Loewen judge Frank Thelen. The fund focuses on disruptive technologies across artificial intelligence, quantum computing, space technology, synthetic biology, and energy. It targets companies whose technology has the potential to scale by an order of magnitude versus incumbents, backed by Frank Thelen's three decades of operating experience across consumer software, mobile, and deep tech.
Copenhagen, Denmark · Venture Capital 2150 is a Copenhagen and London based climate fund focused on technology that makes cities more sustainable. Backed by real estate operator NREP, the fund invests in Construction Tech, Energy Efficiency, low carbon materials, and urban infrastructure startups. 2150 provides both capital and pilot access through its built environment network, helping startups validate solutions in real world projects. It is one of the most prominent climate tech funds headquartered in Denmark.
Nicosia, Cyprus · Venture Capital 33East was founded by Demetrios Zoppos and Yiannis Eftychiou and selected by the European Investment Fund in 2023 as Cyprus's first EIF-backed venture capital fund. It closed a €26 million debut fund in January 2025, anchored by the Cyprus Equity Fund (NRRP) and private investors including the Bank of Cyprus. The fund targets pre-seed and seed-stage startups with a Cyprus connection, writing cheques of €100K–€1M across enterprise software, fintech, gaming, marketplaces, logistics, digital health, and climate tech. First portfolio companies include Electryone AI, an AI-powered renewable-energy management platform.
Paris, France · Venture Capital 360 Capital is a French-Italian venture capital firm founded in 2006, with offices in Paris and Milan. The firm manages approximately EUR 700M and invests from seed through growth stage, focusing on deep tech, industrial automation, cybersecurity, and enterprise software. 360 Capital has backed unicorns including Exotec (warehouse robotics), as well as Sigfox, Believe, and Scality. Led by partners with deep operational backgrounds, the firm provides strategic support in scaling hardware-software businesses and navigating European industrial ecosystems.
Istanbul, Turkey · Venture Capital 500 Istanbul is an Istanbul-based early-stage venture capital fund established in 2016 by Enis Hulli and Rina Onur Şirinoğlu in partnership with 500 Global, operating as a distinct fund entity focused on Turkey and Emerging Europe. The fund raised a €30M Fund II and later evolved into 500 Emerging Europe, targeting a €70M raise for the broader CEE and Baltics region. Its portfolio of 37+ companies includes three unicorns — Insider, BillionToOne, and Carbon Health — with portfolio companies collectively generating over $600M in annual revenue and attracting $1.1B in follow-on funding. The fund backs pre-seed to seed-stage startups with typical cheques from €200K to €3M.
London, United Kingdom · Venture Capital Accel is one of the world's most active early-stage venture firms and has been the leading transatlantic investor in European technology since opening its London office in 2000. Operating through dedicated Europe & Israel funds — the eighth closed at $650M in May 2024 — the London team writes seed and Series A cheques of $1–20M, targeting up to 30 companies per fund across software, AI, cybersecurity, fintech and consumer internet.
Accel's European track record is unmatched: early bets on Spotify (Sweden), Supercell (Finland, $8.6bn Tencent deal), UiPath (Romania, NYSE IPO 2021), Vinted, Celonis, Monzo, Deliveroo, GoCardless and BlaBlaCar established its reputation for category-defining companies across 20+ countries. Recent deals continue the pattern — Accel led the $200M Series A in Swedish AI app-builder Lovable in 2025, one of the largest Series A rounds in European history. The London partnership includes Sonali De Rycker, Harry Nelis, Luca Bocchio and Philippe Botteri, the last of whom authors Accel's closely watched annual Euroscape report on European cloud and AI.
London, United Kingdom · Venture Capital Ada Ventures is a London-based pre-seed and seed fund founded in 2019 by Check (Francesca) Warner MBE and Matt Bradley, focused on backing diverse founders building breakthrough technology across climate equity, economic empowerment, and healthy ageing. The firm closed its first fund at $50 million and raised a second fund of £63 million in March 2024, bringing total assets under management to over £100 million. Ada distinguishes itself as Europe's first VC fund explicitly designed to address underrepresentation in the startup ecosystem, investing £250K–£1M per company and running a scout and angel programme to surface talent overlooked by traditional networks.
Paris, France · Venture Capital Alven is an independent Paris-based venture capital firm founded in 2000 by Guillaume Aubin and Charles Letourneur, making it one of the oldest and most established VC institutions in France. The firm manages €2 billion in assets under management across six successive funds, with its latest fund closing at €350 million in 2022. Alven focuses on seed through Series B investments across B2B software, fintech, marketplaces, developer tools, and consumer technology, predominantly backing French and European startups. Notable unicorn investments include Qonto, Dataiku, and Algolia, alongside a broader portfolio of 164 companies that includes Ankorstore, OpenClassrooms, Happn, and Meero.
London, United Kingdom · Venture Capital Andreessen Horowitz is a global venture firm that led ElevenLabs' early growth rounds and participated again in the company's 2026 Series D. The firm is active across AI infrastructure, developer tools, enterprise software, and consumer internet.
Berlin, Germany · Venture Capital Angel Invest is a Berlin-based super-angel fund founded in 2018 by Jens Lapinski and Jenny Apostel, positioning itself as one of Europe's most active early-stage investors. The fund targets pre-seed and seed-stage European technology startups, writing roughly €100k–€125k cheques across dozens of investments per year. Lapinski previously led Techstars Berlin, and the fund's portfolio companies have collectively raised hundreds of millions in follow-on funding.
Vienna, Austria · Venture Capital Apex Ventures is a Vienna-based seed-stage venture capital firm launched in 2017 by Andreas Schwarzenbrunner, Wolfgang Berner, and Ulrich Gall, focused on deep tech, AI, medical devices, and digital health. The firm manages over EUR 50M and invests EUR 250K-1.5M in science-driven teams with defensible intellectual property, often emerging from leading European research institutions. Apex has backed companies including Prewave, Ribbonfish, and contextflow, and provides hands-on support in technology commercialization and clinical market access.
Lisbon, Portugal · Venture Capital Armilar Venture Partners is a Lisbon-based venture capital firm that spun out from Portugal's Novabase group in 2016, building on a venture investment track record dating back to 2001. The firm invests from seed through growth stage in deep tech, enterprise IT, and healthcare, with a focus on Portuguese and Iberian founders with global ambitions. Armilar manages over EUR 200M and has backed companies including Feedzai (AI fraud detection unicorn), Outsystems, Sword Health, and Codacy. The team provides strategic support in US market entry and international scaling.
Dublin, Ireland · Venture Capital Atlantic Bridge is a Dublin- and London-headquartered growth-equity firm founded in 2004 by Brian Long, Elaine Coughlan, Gerry Maguire and Peter McManamon. It manages over €1.2bn across eight funds, including flagship growth vehicles (Atlantic Bridge III at €140M, AB IV at $317M), two China-Ireland Technology Growth Capital funds, and two University Bridge Funds (€65M + €80M) seeding deep-tech spinouts from Irish universities. Its defining 'Bridge Model' accelerates the internationalisation of European technology companies via the partners' US networks.
The firm invests at expansion and growth stage — typically €10–20M cheques — across AI, next-generation semiconductors, cybersecurity, enterprise software, quantum computing and digital health. It has recorded 50+ exits worth over $7bn, including Movidius (Intel), Decawave (Qorvo), NUVIA (Qualcomm, $1.4bn) and the Nasdaq listing of Navitas Semiconductor. Active holdings include SambaNova, Vectra AI, Equal1 and Cambridge Mechatronics. The team is led by co-founders Brian Long and Elaine Coughlan with Managing Partner Kevin Dillon.
London, United Kingdom · Venture Capital Atomico is a leading European venture capital firm founded in 2006 by Niklas Zennström, the co-founder of Skype. Headquartered in London with roots in Stockholm, Atomico focuses on backing ambitious tech founders across Europe at Series A and beyond. The firm manages several billion dollars across multiple funds and has built a portfolio of household names. Atomico’s approach leverages Zennström’s global experience – the firm often helps startups expand internationally and recruits senior talent via its notable “Executive-in-Residence” program. Atomico has invested in companies spanning fintech, deep tech, software, and consumer internet. Notable successes include Klarna (the Swedish fintech giant), Supercell (Finnish gaming, acquired by Tencent), Graphcore (UK AI chips), and MessageBird (Netherlands communications platform). Atomico was also an early backer of Stripe in the US and Viagogo. The firm is known for publishing the annual “State of European Tech” report, reflecting its thought leadership in the ecosystem. In terms of investment size, Atomico typically leads or co-leads Series A–C rounds with cheques of $5–$50 million, and it has the capacity to follow-on through later stages. It closed its fifth fund of $820 million in 2020 and a $1.2 billion fund in 2022, underscoring investor confidence in European tech. Atomico’s team includes partners with experience at Google, Uber, Spotify, and more – providing operational support to portfolio founders. The firm also stands out for its commitment to sustainability and diversity, integrating impact considerations and backing companies tackling climate change. Atomico’s influence is evidenced by the fact that as of 2025 it has produced five IPOs and multiple $10B+ exits in Europe. In summary, Atomico has established itself as a premier VC “built by founders for founders,” fueling Europe’s ascent with capital, expertise, and global networks.
Kyiv, Ukraine · Venture Capital AVentures Capital is a Kyiv-based early-stage venture fund with $109M in assets under management, investing in software technology companies founded by Eastern European entrepreneurs building global businesses. Founded by Andriy Kolodyuk and Yevgen Sysoyev, the fund publishes the annual Dealbook of Ukraine, the definitive market study of the Ukrainian tech and venture ecosystem. The 2026 edition documented $498M raised by Ukrainian tech companies in 2025, an 8% year-on-year increase, with defense tech emerging as the fastest-growing sector. The fund remains operationally active in Kyiv and continues to back early-stage founders through the wartime period.
Riga, Latvia · Venture Capital BADideas.fund is a Riga-based early-stage syndicate and pre-seed/seed fund whose 200+ members are operators and founders from CEE unicorns including Wise, Veriff, Printify, and Bolt. The fund is backed by Latvian development bank Altum under the EU ERDF-supported programme, with a total fund size of €20.67 million, active from 2024 to 2029. It focuses on globally ambitious founders from Latvia and the broader CEE region.
London, United Kingdom · Venture Capital Balderton Capital is one of Europe’s most established venture capital firms focused on early-stage technology companies. Based in London, Balderton was founded in 2000 as the European arm of Benchmark Capital and became independent in 2007. It has since raised ten funds dedicated to European startups, with over $4 billion in assets under management. Balderton primarily invests at Series A, typically leading rounds of $5–15 million and taking significant minority stakes. The firm’s portfolio spans a wide range of sectors – from fintech and marketplaces to SaaS and gaming – reflecting Europe’s diversity. Notable investments include Revolut (fintech, which Balderton backed at Series A), The Hut Group (UK e-commerce, now public), Darktrace (cybersecurity, IPO 2021), MySQL (acquired by Sun Microsystems), Citymapper (urban transport app), GoCardless (payments) and Vestiaire Collective (fashion resale). Balderton has consistently been among the most active Series A investors in Europe; in 2022 it deployed capital into 20+ new companies and many follow-ons. The firm is known for its strong founder support and an ethos of “teamwork” – all partners share carry evenly, which encourages collective input on portfolio companies. General Partners like Bernard Liautaud (founder of Business Objects) and Suranga Chandratillake (founder of Blinkx) bring operator experience. In recent years Balderton also launched a liquidity fund to buy secondary shares from European tech founders and early employees, reflecting a maturing ecosystem. The firm has also been vocal on issues like startup diversity and European tech sovereignty. With successes such as Revolut’s rise to $33B valuation and Darktrace’s IPO (Balderton held ~18% at listing), Balderton has proven that European VCs can deliver world-class returns. It continues to invest actively across Europe – from Stockholm to Tel Aviv – aiming to partner with founders “with global ambition.” In the constellation of European VC, Balderton Capital is often mentioned alongside Accel and Index as the top choice for Series A funding, thanks to its track record and deep network built over two decades.
Istanbul, Turkey · Venture Capital Bek Ventures is an early-stage venture capital firm backing exceptional founders with roots in Europe, with a particular focus on Central and Eastern Europe and Turkey. Founded in 2013 as the Earlybird Digital East Fund and rebranded to Bek Ventures in late 2024, the firm manages roughly $600 million across its funds, including a $250 million Fund III closed in 2024. Led by managing partner Cem Sertoglu and with offices in Istanbul, London, and New York, the Turkish-founded team has generated billions of dollars in returns over the past decade and is associated with one of the greatest venture investments in European history. Bek Ventures backs technical founders building global category leaders, with around half of its portfolio companies operating from the United States.
Athens, Greece · Venture Capital Big Pi Ventures was founded in 2018 by Marco Veremis, Alex Eleftheriadis, and Aristos Doxiadis, all seasoned entrepreneurs with exits to Splunk, Meta/Facebook, and global PE. The firm manages approximately €250M in AUM across an early-stage fund (Big Pi II, €50M, 2023) and a growth fund (€130M first close, targeting €200M). It follows a tech-first investment thesis focused on AI, deep tech, biotech, and IP-heavy companies built by founders with a Greek nexus — whether based in Greece or part of the global diaspora. Notable portfolio companies include TileDB, Numan, and Accusonus (acquired by Meta).
Kraków, Poland · Venture Capital Borubar Ventures is the personal investment vehicle of SALESmanago founder Grzegorz Błażewicz, launched after his majority-stake transaction with Silver Lake Waterman. The fund focuses on B2B SaaS, marketing technology, and AI-driven analytics startups across Central and Eastern Europe, with operator-led support drawing on the SALESmanago scale-up playbook.
Paris, France · Venture Capital Breega is a pan-European early-stage venture capital firm founded in 2016, with offices in Paris, London, and Barcelona. The firm manages over EUR 350M and invests from pre-seed through Series A, writing initial checks of EUR 500K to EUR 5M. Breega focuses on fintech, consumer tech, SaaS, and marketplace models, and has backed companies including Swile, Spendesk, Brigad, and Luko. Led by co-founders Ben Marrel and Francois Paulus, Breega combines capital with an in-house growth team offering hands-on support in hiring, go-to-market strategy, and international expansion across European markets.
Sofia, Bulgaria · Venture Capital Founded in 2018 by Georgi Mitov and Elina Halatcheva (joined by Managing Partner Diana Stefanova), BrightCap is a pre-seed and seed VC based in Sofia. Its second fund (BrightCap II) closed at approximately €47.5M in 2025, with the European Investment Fund as a cornerstone LP, and is notable as the first vehicle to blend Recovery and Resilience Facility capital from both Bulgaria and Romania in a single cross-border fund. Managing partners bring operating backgrounds from exits at VMware (Aviaso) and Honeywell (Sciant) rather than traditional finance. BrightCap invests €400K–€3M tickets with sector focus on future of work, digital health, and fintech; the portfolio includes Software Group, Pliant, and FITE.
Reykjavik, Iceland · Venture Capital Brunnur Ventures is an early-stage venture capital firm founded in 2013 and focused on high-growth Icelandic startups. The firm backs scalable B2B software, gaming, biotech, cleantech, and marine-tech companies, writing initial seed cheques and following on through growth rounds. With around 34 portfolio companies, the firm has achieved notable exits including CCP Games and Oculis. Key partners include Founding Partner Sigurdur Arnljotsson and Managing Partner Arni Bloendal.
Vilnius, Lithuania · Venture Capital BSV Ventures (formerly Baltic Sandbox Ventures) is an early-stage VC firm focused on deep tech, life sciences, and dual-use technologies across the Baltic region, with offices in Lithuania, Estonia, and Finland. It was founded in 2018 and offers both an incubation program and direct investment, writing pre-seed cheques up to €125,000 and seed cheques up to €400,000. In 2024 the firm closed a €15 million fund backed by NATO Innovation Fund and the Lithuanian national development institution ILTE. It has made over 27 investments.
Zurich, Switzerland · Venture Capital btov Partners (now operating as b2venture) is a European venture capital firm founded in 2000 in St. Gallen, Switzerland, managing approximately €510 million across institutional, partner, and private investor funds from offices in Zurich, Berlin, Munich, and Luxembourg. The firm invests in early-stage digital and industrial technology companies across Europe, with ticket sizes of €250,000 to €3.5 million and roughly €50 million deployed per year. Notable portfolio companies include DeepL, SumUp, Raisin, and Blacklane.
Riga, Latvia · Venture Capital Buildit is a Riga-based hardware and IoT accelerator-VC hybrid founded in 2014, operating as the first accelerator in the Baltics and Nordics focused on physical-device startups. It runs cohort programmes and provides pre-seed funding up to €250k for Latvia-incorporated startups, with seed follow-on up to €1.5M for Baltic and Nordic companies. The firm has made over 120 investments and manages the Buildit Latvia Pre-Seed Fund (2022 vintage). Portfolio companies span energy, health tech, smart living, and robotics, including Aerones.
Copenhagen, Denmark · Venture Capital byFounders is a Copenhagen-based venture fund built around the idea that early-stage founders benefit most from investors who have already built and scaled companies themselves. The firm is backed by a broad collective of Nordic and Baltic founders and operators, giving portfolio companies access not only to capital but also to practical advice on hiring, go-to-market, product development, and international expansion. That structure makes byFounders more than a conventional seed fund; it operates as a networked operating layer for startups emerging from the Nordic-Baltic region. Its importance in the directory is strategic because it fills the middle of the ecosystem pipeline: after founders are incubated by universities, venture builders, or accelerators, but before they are ready for large global growth funds, they need a seed investor that can professionalize the company and prepare it for the next round. byFounders has become one of the clearest examples of that role in Northern Europe. It also helps connect smaller regional startup communities into a shared capital network, which is especially relevant for Baltic and Nordic founders that need international reach early.
Wrocław, Poland · Venture Capital Catch the Tornado is a Wrocław-based venture builder and investment firm founded by Divante alumni Piotr Karwatka and Tomasz Karwatka after Divante's exit. The firm builds and backs open-source, composable-commerce, and AI-first companies with hands-on operator support. Portfolio and venture-build references include Alokai (formerly Vue Storefront), Ramp Network, and Rigby.
Paris, France · Venture Capital Cathay Innovation is a Paris-headquartered global multi-stage venture capital firm founded in 2015, affiliated with Cathay Capital, with offices in San Francisco, Berlin, Madrid, Shanghai, and Singapore. The firm closed its third fund at $1 billion in 2025 — the largest AI-dedicated fund out of the European Union — bringing total assets under management to over €2.5 billion. Cathay invests in vertical AI, digital health, fintech, mobility, and energy across Europe, North America, and Asia, connecting startups with a corporate network of 20+ Fortune 500 partners. The portfolio of over 120 companies includes Glovo, Ledger, Owkin, Alma, and Descartes Underwriting, with eight unicorns, six IPOs, and 18 acquisitions.
Baku, Azerbaijan · Venture Capital Founded in November 2022 as Azerbaijan's first domestically domiciled venture capital fund, Caucasus Ventures was established by the Innovation and Digital Development Agency, PASHA Holding, and individual investors, with a statutory capital of 11.3 million AZN (~$6.6 million). Led by General Partner Mammad Karim, the fund targets post-seed to Series A startups in fintech, edtech, SaaS, cybersecurity, gaming, and e-commerce across Azerbaijan, Georgia, Türkiye, Central Asia, and Eastern Europe. Portfolio companies include Vivoo, Platma, Cognitiwe, Cargon, TASS Vision, and KLIPY. The fund is distinctive as the pioneer institutional VC vehicle in the Azerbaijani ecosystem, backed by state innovation infrastructure and private capital.
Rome, Italy · Venture Capital Founded in 2015 as the National Innovation Fund (Fondo Nazionale Innovazione) and wholly owned by Cassa Depositi e Prestiti, CDP Venture Capital SGR is the largest venture capital operator in Italy and one of the biggest in Europe, deploying capital through a family of direct and fund-of-funds vehicles with a combined target allocation of over €3.3 billion in its 2024–2028 business plan. It operates across the full lifecycle — from seed (Italia Venture I/II) through growth (Large Ventures, target €700 million) and ecosystem development (VenturItaly II FoF, target €700 million) — covering deep tech, life sciences, digital transition, and sustainability. The portfolio spans 246+ companies, with notable names including Everli and Arduino; its fund-of-funds arms back virtually every significant Italian VC manager. As a state-backed anchor LP and direct co-investor, CDP acts as the cornerstone of the national innovation ecosystem.
Tallinn, Estonia · Venture Capital Founded in 2017, Change Ventures is the largest pan-Baltic pre-seed and seed fund, backing ambitious founders across Estonia, Latvia, and Lithuania as well as Baltic diaspora entrepreneurs worldwide. Managed by Andris K. Berzins and a team with over 45 years of combined operating experience, the firm closed its €49M Fund II — the largest seed VC fund ever raised in the Baltic States — supported by the European Investment Fund's Baltic Innovation Fund. The firm invests €400K–€3M in B2B and SaaS technology startups, with a strong focus on the Baltic region's next-generation founders. Fund III of €20M doubled down on pre-seed, cementing Change Ventures as the defining early-stage regional franchise.
Berlin, Germany · Venture Capital Cherry Ventures is a Berlin-headquartered seed-stage venture capital firm founded in 2012 by Filip Dames, Christian Meermann, and Daniel Glasner, three serial founders who previously built and exited companies in the Rocket Internet orbit and wanted a fund that operated like an ex-operator first-round partner rather than a traditional generalist. The firm has grown into one of the most consistently visible seed funds in Europe, with over EUR 750 million under management across five generations of funds and a portfolio that includes FlixBus, GetYourGuide, Auto1 Group, Forto, Infarm, Flink, Juni, and Choco. Cherry invests from EUR 500K to EUR 4M at pre-seed and seed across consumer, marketplaces, B2B SaaS, fintech, and climate tech, and opened offices in London, Paris, and Stockholm during the 2021-2023 expansion cycle. It is one of the relatively small group of European seed funds that regularly competes head-to-head with US tier-one firms on European first checks.
Oslo, Norway · Venture Capital Cloudberry Ventures is a Nordic venture capital firm investing in early-stage technology and deep tech startups across the Scandinavian region, with a focus on backing founders building companies in software, hardware, and emerging technologies. The firm has a particular focus on the Norwegian and broader Nordic startup ecosystems and maintains an investment team managing funds for institutional and corporate limited partners. Cloudberry Ventures participates in the NORDEEP Nordic Deep Tech Business Summit as an investor.
Warsaw, Poland · Venture Capital Cogito Capital Partners is a Warsaw- and New York-based growth-stage venture firm founded in 2019 by Sylwester Janik (formerly a senior partner at MCI Capital) and Martin Jasinski. It backs later- and early-growth-stage B2B technology companies with Central and Eastern European roots that are scaling globally, with a particular emphasis on US expansion, addressing the Series B+ equity gap for European scale-ups (typically €5–10M+ ARR) across enterprise software, fintech and healthtech.
Cogito has raised two funds: Cogito Fund I (2019, ~€61M, anchored by the EIF and PFR) and Cogito Fund II (target €125M, first close €90M+ in 2024, with EBRD, IFC and BGK among LPs), writing cheques of €5–15M. Its portfolio spans companies including Preply (language-learning unicorn), Allica Bank (UK SME-bank unicorn), Katana (Estonian cloud ERP, Series B led by Cogito), Nomagic, Finom and Alcatraz AI. Fund I also produced a landmark exit when Applica.AI was acquired by Snowflake in 2022.
Vilnius, Lithuania · Venture Capital Coinvest Capital is a state-backed co-investment fund established in 2018 as a 100% subsidiary of the National Development Bank ILTE, itself owned by Lithuania's Ministry of Finance, and co-funded by the European Union. The fund's model requires all investments to be made alongside accredited business angels or other VC funds, splitting upside in favour of private co-investors to grow Lithuania's angel ecosystem. With €44.3 million in committed capital, it has deployed over €25.9 million into 51 portfolio companies spanning AI, climate, biotech, defence, and frontier tech. Since 2023 it has earmarked roughly €6.8 million specifically for aerospace, defence, and dual-use startups, making it one of the earliest European sovereign funds to lean into defence tech.
Vilnius, Lithuania · Venture Capital Contrarian Ventures is a pan-European seed-stage climate tech fund founded in 2017 and headquartered in Vilnius, with a secondary office in London. The fund exclusively backs startups targeting the sources of 77% of global greenhouse gas emissions — energy, transport, buildings, and heavy industry — deploying €1–4 million per initial ticket. Its second fund closed at €100 million in 2022, making it one of the largest dedicated climate VC vehicles out of the Baltics. The portfolio spans over 28 companies across 11 countries and skews 60% software-first, with the remaining 40% split between hardware-enabled software and deep tech hardware.
Stockholm, Sweden · Venture Capital Creandum is one of Europe's leading early-stage venture capital firms, founded in Stockholm in 2003 and now operating from Stockholm, Berlin, London and San Francisco. It backs technology companies from seed to Series A and has been an early investor in category-defining businesses including Spotify, Klarna, Bolt, Kahoot, Depop and Pleo. In 2024 it closed its seventh flagship fund at around 500 million euros to continue backing European founders.
Zug, Switzerland · Venture Capital Creathor Ventures is a pan-European venture capital firm founded over 30 years ago, managing more than €230 million across funds with offices in Bad Homburg and Zurich. The team has financed over 200 companies as lead or co-lead investors, with more than 20 portfolio companies reaching international stock exchanges. It focuses on deep tech and digital health, investing in areas such as AI, IoT, precision medicine, medtech, and cloud technology, primarily in Germany and Switzerland.
Prague, Czech Republic · Venture Capital Credo Ventures is a Prague-based early-stage VC focused on Central and Eastern Europe. The firm manages about EUR 250m across four funds and is currently investing out of Fund IV, writing initial checks up to roughly EUR 5m. Credo backs founders from pre-seed to Series A and has supported breakout CEE companies including UiPath, Productboard, and ElevenLabs. Key partners include Ondrej Bartos and Vladislav Jez, alongside partners such as Tomas Burian and Michal Cernocky. The firm is known for hands-on support and long-term follow-on capital in the region.
Reykjavik, Iceland · Venture Capital Crowberry Capital is a Nordic seed and early-stage venture fund founded in 2017 in Reykjavik, with additional offices in Copenhagen and Stockholm. The all-female founding team backs technology startups across the Nordics, with a particular focus on SaaS, digital health, fintech, and gaming. Its second fund closed at €90 million and the firm has invested in over 34 companies. Notable portfolio companies include Lucinity (AI anti-money laundering) and Mainframe Industries (cloud-native MMO gaming).
Bratislava, Slovakia · Venture Capital Crowdberry is a licensed Slovak–Czech equity crowdfunding and venture investment platform founded in 2015 in Bratislava, enabling retail and institutional investors to co-invest in vetted SMEs and real estate projects. Its group manages over €120 million in assets across more than 70 portfolio companies in Slovakia and Czechia. Institutional backers include Tatra Private Banking and, since October 2024, Slovenská sporiteľňa (Erste Group) as a strategic minority owner. Subsidiaries cover seed-stage VC (CB Investment Management), real-estate funds, and a social-impact vehicle (CB ESPRI).
Paris, France · Venture Capital Daphni is a Paris-based venture capital firm founded in 2015 by Pierre-Eric Leibovici, managing over €500 million in assets under management across three funds. The firm targets seed and Series A investments in European technology startups, writing cheques from €500K to €10M, and distinguishes itself through a community-driven model that engages its network of founders, operators, and investors as active contributors to portfolio companies. Daphni's third fund, Daphni Blue, began its first close at €200 million in March 2025, backed by LPs including Crédit Mutuel Arkéa, Bpifrance, and the European Investment Fund. Notable portfolio companies include Back Market, Swile, and Epic, with three unicorns, one IPO, and 22 acquisitions across the portfolio.
London, United Kingdom · Venture Capital Dawn Capital is a London-based venture capital firm specialising in B2B software, backing European enterprise-technology companies from Series A through growth. One of Europe's largest dedicated B2B software investors, it focuses on areas including fintech, cybersecurity, data and enterprise SaaS.
Prague, Czech Republic · Venture Capital DEPO Ventures is a Prague-based angel investment platform and early-stage venture capital firm founded in 2016 by Michal Ciffra and Petr Sima. The firm focuses on pre-seed and seed-stage tech startups from the CEE and Baltic regions, with an emphasis on artificial intelligence, fintech, and tech marketplaces, and has invested over €10 million across its three angel funds, the largest of which targeted €20 million. Beyond capital, DEPO Ventures accelerates portfolio companies and facilitates access to its broader angel investor network.
Istanbul, Turkey · Venture Capital Diffusion Capital Partners (DCP) is Istanbul's leading deep-tech focused venture capital fund manager, with a team that began operations in 2007 and the fund formally established in 2015. DCP closed its first fund at €37M and launched a second fund targeting €35M, backing startups in BioTech, AgroTech, CleanTech, Robotics, Material Science, and Nanotechnology across Turkey and the broader region. The firm has made over 44 investments, primarily at Seed and early Series A stages with initial tickets typically below €500K. DCP's cumulative team experience spans over 70 years in high-tech sectors, offering portfolio companies business development, legal, and operational support alongside capital.
Bucharest, Romania · Venture Capital Early Game Ventures is a Bucharest-based venture capital firm that launched its first fund in 2019 focused on Romanian tech startups, achieving a reported 45% IRR on Fund I with 4 exits from 28 portfolio companies including Bunnyshell and Profluo. In April 2024 the firm launched Fund II targeting €60 million to invest in early-stage startups across CEE — primarily Romania (60–70%), with the remainder across Europe — at ticket sizes up to €6 million. Focus sectors include SaaS, AI, cybersecurity, fintech, and deep tech.
Berlin, Germany · Venture Capital Earlybird Venture Capital is one of Europe's longest-standing and most active venture firms, founded in Berlin in 1997 by Hendrik Brandis and Christian Nagel. It manages roughly €2.5bn across two active platforms — the flagship Earlybird technology fund (Fund VIII closed at €360M in 2026, its largest to date) and Earlybird Health (€173M second fund, 2024) — from offices in Berlin, Munich and London. Earlybird writes initial tickets up to €12M, concentrated at pre-seed and seed with follow-on into Series A and beyond.
The firm targets Western Europe — Germany, the UK, France, Italy, the Nordics, Austria and Switzerland — with CEE coverage via a dedicated venture partner. Its focus has shifted toward AI and foundation models, software infrastructure and deep tech (space, fusion, photonics, quantum), alongside its independent health platform. LPs include the European Investment Fund, sovereign wealth funds, global pension funds and British Patient Capital.
Across 29 years Earlybird has produced landmark outcomes including Peak Games (sold to Zynga for ~$1.85bn, 2020), UiPath (NYSE IPO 2021, from the Digital East franchise that later spun out as Bek Ventures), Trendyol (Alibaba, 2018) and ImCheck Therapeutics (up to €1bn, 2025), and counts N26, Aleph Alpha, Isar Aerospace, Aiven, Payhawk and Wefox among its portfolio. In 2026 it introduced a perpetual active-ownership governance model keeping ownership with active partners.
London, United Kingdom · Venture Capital Eight Roads Ventures is the global venture capital platform of Fidelity, tracing its roots to Fidelity Ventures (1969). Headquartered in London for its European and Israeli operations, it invests exclusively from Fidelity's balance sheet rather than raising external LPs — a structure that affords long holding horizons. The European arm has deployed four successive funds, growing from £100M to a $450M fourth fund (2021), within a global platform managing over $5bn across Europe, Israel, India and Asia.
The London team focuses on growth-stage and scale-up investments, writing $5–50M cheques into companies past product-market fit (roughly Series A–C) in SaaS and enterprise software, fintech, healthtech, consumer technology and climate tech. Notable European portfolio companies include Spendesk (France), Hibob (Israel/UK), Funnel.io (Sweden), Tibber (Norway), Swan (France) and Amenitiz (Spain); key exits include InnoGames (€260M to MTG, 2016), Compte-Nickel (BNP Paribas, ~€200M, 2017) and Made.com's 2021 London IPO. The team is led by Managing Partner Davor Hebel with partners Lucile Cornet and Michael Treskow.
Paris, France · Venture Capital Elaia is a Paris-based venture capital firm founded in 2002, specializing in deep tech, AI, and enterprise software with strong ties to French and European research institutions. The firm manages over EUR 1B across multiple funds and invests from seed to Series B, with typical initial tickets of EUR 1-5M. Elaia has built a portfolio of 100+ companies including Criteo (IPO), Mirakl, Shift Technology, Dental Monitoring, and Lifen. The team maintains close relationships with labs at INRIA, CNRS, and leading universities, making Elaia a go-to partner for research spin-offs commercializing cutting-edge technology.
Sofia, Bulgaria · Venture Capital Founded in 2012 by Daniel Tomov, Dilyan Dimitrov, Ivaylo Simov, and Jon Bradford, Eleven Ventures is one of Bulgaria's oldest and most active pre-seed and seed funds, with 170+ investments across South-Eastern Europe over 13 years. Its third fund (Eleven Fund III) closed at €60M in January 2022 backed by the EIF and 60+ individual LPs, targeting fintech, healthcare, future of work, sustainable food, and ecomtech. Notable exits and portfolio names include Payhawk, Quantive (formerly Gtmhub), SMSBump (acquired by Yotpo), Dronamics, and NitroPack. The first fund was listed on the Bulgarian Stock Exchange in 2020 via a spin-out called Eleven Capital.
Limassol, Cyprus · Venture Capital Embria is an international startup builder and investor headquartered in Limassol, Cyprus, founded in 2007. The firm finds, funds, and grows technology companies from the ground up, with a focus on mobile gaming, wellness, AdTech, social platforms, and marketing technology. Embria has co-founded and invested in over 20 portfolio companies with more than 2,000 team members globally, including HypeAuditor and AdTech Holding. The company also maintains offices in Finland.
Amsterdam, Netherlands · Venture Capital Endeit Capital is a growth-stage venture capital firm founded in 2006 and headquartered in Amsterdam, with additional offices in Hamburg and Stockholm. It manages a €303 million fund focused on AI-enabled fintech, climate tech, future of work, and security companies across the DACH, Benelux, Nordic, and UK markets, investing €7–15 million at late Series A to early Series B. The firm has made 64 investments and 25 exits, including the $330 million acquisition of 3D Hubs by Protolabs.
London, United Kingdom · Venture Capital Episode 1 Ventures is a London-based seed and pre-seed fund founded in 2013 by Simon Murdoch, Damien Lane, and Adrian Lloyd, all experienced entrepreneurs who have built and exited companies. The firm closed its third fund at £76 million in February 2024, bringing total capital managed to over £170 million across three vehicles. Episode 1 focuses on software-driven businesses in AI, infrastructure, health, open-source, and marketplace sectors, writing initial cheques of up to £2 million. The fund has backed 69 companies and achieved a 73% Series A graduation rate — three times the industry average — with notable portfolio companies including Carwow, Huboo, CloudNC, and Robin AI.
Stockholm, Sweden · Venture Capital EQT Growth is the growth equity arm of EQT, one of Europe's largest alternative investment firms headquartered in Stockholm. Launched in 2019, EQT Growth manages over EUR 4B and invests EUR 30-200M in high-growth technology companies scaling across Europe and globally. The fund focuses on category-leading software, fintech, and marketplace businesses at Series C and beyond. Notable investments include Vinted (led its EUR 250M Series F), Mollie, Epidemic Sound, and Small Giant Games. EQT Growth leverages the broader EQT platform's industrial network and 30+ years of operational value creation expertise.
Istanbul, Turkey · Venture Capital Esas Ventures is the venture capital arm of Esas Holding, Turkey's largest family-owned investment group backed by the Şevket Sabancı family, founders of the Sabancı Holding conglomerate. Founded in 2018 and operating from Istanbul with a London presence, the fund has built a portfolio of 38+ companies including four unicorns, with Getir, Deel, and Misfits Market among its most notable exits and holdings. The firm invests primarily at Seed and Series A stages in B2B SaaS, marketplaces, and consumer tech, with a global mandate spanning Turkey, the US, and Europe. Esas Ventures backed Insider through its $500M Series E led by General Atlantic, underscoring its capacity for large follow-on rounds.
Paris, France · Venture Capital Eurazeo is a leading European investment group listed on Euronext Paris, managing over EUR 35B in diversified assets including a dedicated venture and growth portfolio. Founded in 2001, Eurazeo's tech investment arm operates from Paris, London, Berlin, and New York, investing EUR 10-50M at Series B through pre-IPO stages. The firm has backed major European scale-ups including 1KOMMA5, Contentsquare, Doctolib, Younited Credit, and Vestiaire Collective. Eurazeo combines patient capital with deep operational expertise in internationalization, M&A, and ESG integration across its portfolio.
Luxembourg, Luxembourg · Venture Capital Expon Capital is a Luxembourg-based venture capital firm founded in 2015 by Alain Rodermann, Jérôme Wittamer, Lily Wang, and Marc Gendebien. The firm has deployed over €90 million across 33 companies in 14 countries through successive Digital Tech Funds, with Fund IV planned for 2026. It backs seed and early-stage tech startups across cybersecurity, fintech, regtech, digital health, and edtech, with a particular focus on Luxembourg-origin companies. Notable portfolio successes include Salonkee, which grew to 250+ employees and raised a €28 million Series B led by PeakSpan Capital after Expon's initial investment.
Reykjavik, Iceland · Venture Capital Eyrir Sprotar is the seed and early-stage venture fund managed by Eyrir Invest, a Reykjavik-based international investment company with a 25-year track record. The fund, launched in 2012 and formalized in 2015, backs promising Icelandic ventures targeting international markets, with typical investment sizes around €3 million. Eyrir Invest is best known as a major long-term shareholder in Marel, the global food processing equipment manufacturer.
Lisbon, Portugal · Venture Capital Faber is a Lisbon-based venture capital firm founded in 2012, investing in early-stage deep tech and climate technology companies at the intersection of science and technology in Southern Europe. The firm has backed notable startups including Unbabel, SWORD Health, Codacy, and Smartex, typically writing cheques of €100,000 to €2.5 million. Its latest fund, Faber Tech III, has a target size of €60 million and is anchored by the European Investment Fund and the NATO Innovation Fund.
Zagreb, Croatia · Venture Capital Feelsgood Capital was founded in 2019 and officially licensed by the Croatian Financial Services Supervisory Agency on June 10, 2020, making it the first social impact investment fund in Croatia and the third VC to launch in the country with an entirely Croatian team. Led by Managing Partners Renata Brkić, Domagoj Oreb, Vedran Blagus, and Dinko Novoselec, the fund manages approximately €30 million targeting Croatian and Slovenian ventures. It backs pre-seed through Series A companies delivering measurable social impact in financial inclusion, agriculture, circular economy, education, and healthcare. Portfolio companies include GameBoost and VIDI X, with roughly 12 investments to date.
London, United Kingdom · Venture Capital Felix Capital is a London-based venture capital firm, founded in 2015 and based on Beak Street, that invests at the intersection of technology and creativity. It backs digital lifestyle, consumer and creative-economy companies alongside related enterprise tools, describing its focus as building for the 'creative class' across home, work and in-between.
Novi Sad, Serbia · Venture Capital Fifth Quarter Ventures is an early-stage VC fund founded in 2023 and based in Novi Sad, investing in startups across the Western Balkans and Adriatic region. The fund is led by General Partners Tihomir Bajić and Pedja Predin, both experienced operators who aim to be the first significant institutional investor in portfolio companies, taking board seats. Investment focus spans AI, developer tools, open-source software, Industry 5.0, and crypto/Web3. The fund received co-financing through Serbia's state Innovation Fund Serbia Ventures program and manages a portfolio of 12 companies.
Zagreb, Croatia · Venture Capital Fil Rouge Capital was founded in 2014 in Zagreb and is the most active early-stage VC fund exclusively dedicated to Croatian startups, having deployed capital into over 170 companies. Its second fund, Fil Rouge Capital II (€45 million), was co-funded by the European Investment Fund with €32.55 million under the Croatian Venture Capital Initiative. Founding Partners Julien Coustaury and Roger Blott, joined by Partner Stevica Kuharski, focus on pre-seed, seed, and Series A across all sectors, with notable portfolio outcomes including participation in the ecosystems around Infobip and Rimac. The fund has recorded 2 unicorns and 12 acquisitions across its portfolio.
Amsterdam, Netherlands · Venture Capital Finch Capital is an Amsterdam-based venture capital firm founded in 2013, specialising in early-stage investments in European fintech, insurtech, and financial infrastructure. The firm manages approximately $400 million across three funds, with its third European fund targeting €150 million. Finch has invested in 51 companies across the UK, Netherlands, and wider Europe, focusing on seed and Series A rounds in companies applying technology to financial services including payments, lending, insurance, and wealth management. Notable portfolio companies include BUX (European retail investing), with the firm also backing Grab in Asia, and exits including 12 acquisitions from its portfolio.
London, United Kingdom · Venture Capital Firstminute Capital is a London-based seed-stage venture firm founded by Brent Hoberman (Lastminute.com, Founders Forum) and Spencer Crawley. The fund backs first-cheque seed rounds across consumer, B2B SaaS, deep tech, and AI, with a strong LP base that includes more than 100 European founders. Firstminute is known for its global founder network and for taking convicted bets very early in a startup's life.
Vilnius, Lithuania · Venture Capital FIRSTPICK is a Vilnius-based pre-seed and inception-stage VC fund founded in 2022 by Dmitrij Sosunov and Andra Bagdonaitė. It backs early-stage founders from Lithuania, Latvia, and Estonia with initial cheques of €100,000 to €500,000 and follow-on capacity up to €1 million, focusing on AI-enabled software. In 2026 the fund raised a second €25 million vehicle, bringing total AUM across two funds to €45 million. Portfolio companies gain access to a network of 100+ operators and 250+ founders.
Kyiv, Ukraine · Venture Capital Flyer One Ventures is a Ukrainian early-stage VC originally founded in 2018 as Genesis Investments by Vital Laptenok (co-founder of Genesis and BetterMe), rebranding under its current name in 2021. The firm has invested nearly €39M across 95 startups in Ukraine and Central & Eastern Europe across four funds. In July 2025 it closed Fund V at a target of €50M, backed by EBRD (€6.5M) and IFC (€5M), focusing on pre-seed and seed-stage founders from Ukraine and CEE building global products. The fund maintains a Kyiv identity and active pipeline of 1,300+ Ukrainian and regional founders despite operating with a distributed team.
Naarden, Netherlands · Venture Capital Forbion is a leading European life sciences venture capital firm headquartered in Naarden, Netherlands, managing approximately €5 billion across multiple fund strategies covering all stages of biopharmaceutical drug development. The firm has a team of over 30 investment professionals and a track record of more than 130 investments across 11 funds, resulting in numerous approved therapies and successful public exits. Its newest funds—Forbion Growth Opportunities III (€1.2 billion) and Forbion Ventures VII (€890 million)—represent its largest capital raise to date.
Yerevan, Armenia · Venture Capital Founded in 2021 by Grigor Hovhannisyan and Karen Vardanyan, Formula VC is a Yerevan-based early-stage fund focused on SaaS, IoT, and AI startups with Armenian roots. Fund I ($7M) was fully deployed into 22 companies including CoinStats, EasyDMARC, BlueQubit, Expper Technologies, and Zoomerang. In February 2025 Formula VC launched Fund II with a $30M target, aiming to back 40 Armenian-founded startups globally at pre-seed and seed. The fund invests $500K–$1M per company and is backed by C-QUADRAT AAM Armenia among other LPs.
Dublin, Ireland · Venture Capital Frontline Ventures is a Dublin- and London-based venture firm founded in 2012 by Shay Garvey, Will Prendergast and William McQuillan, focused exclusively on B2B software companies building across the Atlantic. It runs two complementary funds: Frontline Seed backs European pre-seed and seed founders with €0.5–2M cheques from a ~$100M fund, while Frontline Growth co-invests $1–5M in US B2B companies preparing to expand into Europe. Together the funds represent over $500M raised across vintages since 2012, backed by the European Investment Fund, the Ireland Strategic Investment Fund and AIB.
The firm's transatlantic thesis is its edge, with offices in Dublin, London, New York and Palo Alto helping European founders time and execute US go-to-market and US companies enter Europe. Frontline's record spans 130+ companies and several landmark exits, including Navan (Nasdaq IPO, 2025), Brightflag (acquired by Wolters Kluwer for €425M, 2025), Workvivo (Zoom, 2023) and Pointy (Google, 2020); Intercom, an early Irish investment, grew to unicorn status. Sector focus spans enterprise AI, developer tools, fintech, legal tech, HR tech and compliance.
Reykjavik, Iceland · Venture Capital Frumtak Ventures is Iceland's oldest active venture capital firm, founded in 2008 with a mandate to back local innovation with global potential. The firm takes a concentrated, high-conviction approach from seed through later growth stages, partnering closely with founders across AI, healthcare, logistics, energy, climate, and ocean-tech. Its fourth fund, closed in July 2024 at $87 million and oversubscribed, is primarily backed by Icelandic pension funds. The portfolio of 34 companies includes notable companies such as Controlant (pharma cold-chain) and Sidekick Health (digital therapeutics).
Bucharest, Romania · Venture Capital GapMinder Ventures is a Bucharest-based early-stage VC firm investing in B2B deep tech and SaaS startups from Romania and Southeast Europe, with portfolio companies including Druid.AI, FintechOS, TypingDNA, and Cyscale. Its second fund, GapMinder Fund II, targets €80 million — described as the largest VC fund with a primary Romania focus — and deploys first tickets up to €2.5 million in seed and late-seed stage companies across fintech, cybersecurity, enterprise automation, and data analytics. The fund targets founders from Romania, Moldova, Serbia, Croatia, Slovenia, and Bulgaria.
Berlin, Germany · Venture Capital La Famiglia is a European seed-stage venture capital firm founded in 2016 by Jeannette zu Fuerstenberg, with offices in Berlin, Paris, and London. The firm bridges the gap between European industry corporates and technology startups, leveraging a network of 200+ family-owned enterprises as LPs and advisors. La Famiglia invests EUR 500K to EUR 3M at pre-seed and seed in B2B SaaS, fintech, and marketplace models. Notable portfolio companies include Personio, Solarisbank, Forto, and Pile Capital. The firm manages over EUR 250M and provides unique access to industrial pilot customers and distribution channels.
London, United Kingdom · Venture Capital General Catalyst is a global venture capital firm that expanded aggressively into Europe through its London office. The firm invests across stages from seed to growth and has become one of the most active US-origin VCs in European tech, backing companies including Helsing, Parloa, Mistral AI, and PhysicsX. General Catalyst focuses on AI, defense tech, enterprise software, and climate, and manages over $25 billion in total assets.
Tbilisi, Georgia · Venture Capital Georgian Ventures was founded in 2018 in Tbilisi and focuses on early-stage investments in Georgian startup founders inside and outside the country, as well as international founders based in Georgia. The firm grew out of Startup Grind Tbilisi, which was recognised as the top Startup Grind chapter in the world in 2019 after hosting over 100 startup events, giving the team deep ecosystem roots and founder networks. Fund size is not publicly disclosed. Beyond direct investing, Georgian Ventures provides quiet advisory services to family offices and individual investors seeking curated deal flow in the Georgian market.
Marsa, Malta · Venture Capital GO Ventures is the corporate venture arm of GO plc, Malta's leading telecommunications provider, launched in 2019 with a dedicated €2 million fund to back technology-driven startups globally. The firm invests at Seed and Series A stages, taking an active role in supporting founders with strategic and operational guidance alongside capital. Its focus spans AI, fintech, cybersecurity, big data, and IoT, and its portfolio includes two unicorns — MPL and Airalo — alongside holdings in Raylo, ToumAI, and Fairatmos. With a small, hands-on team led by Head of Investments Paul Grech, GO Ventures operates as one of the few institutional corporate VCs domiciled in Malta.
Yerevan, Armenia · Venture Capital Founded in 2013 by Manuk Hergnyan, Pierre Hennes, and Yervand Sarkisyan, Granatus Ventures is a Yerevan-headquartered deep-tech VC with ~$40M AUM and offices also in London and Singapore. The firm focuses on university spinouts across AI, biotech, advanced computing, robotics, industrial automation, and climate tech, sourcing deals from Oxford, Cambridge, and Berkeley. Notable portfolio companies include BlueQubit (quantum software), Gecko Robotics (industrial inspection unicorn), and Zoundream (infant cry analysis). As of 2025 the fund remains actively deploying capital across its global deep-tech mandate.
Ta' Xbiex, Malta · Venture Capital Growth Box Ventures is an early-stage venture capital firm founded in 2016 and headquartered in Ta' Xbiex, Malta, led by Managing Partner Gabriel Demirci. The fund targets pre-seed and seed investments in fintech, personal finance, gaming, and lead generation — sectors where Malta has established global relevance. Founded by serial entrepreneurs with a track record of building and exiting ventures, the firm takes a hands-on approach offering strategic advice and growth support beyond capital. Notable portfolio companies include Odds Scanner and Tekpon.
Wroclaw, Poland · Venture Capital Hard2beat is a Wrocław-based pre-seed and seed venture fund founded in 2024 by Maciej Zawadziński — a serial entrepreneur with three exits including Piwik PRO (sold to Kirk Kapital in 2023) — alongside Maciej Frankowicz and Konrad Trzyna, who previously ran Shape VC's BRIdge Alpha programme. The fund closed at 84M PLN (~€20M), with PFR Ventures providing 56.5M PLN under the FENG programme and 30 private investors contributing the rest.
Hard2beat backs Polish deep-tech founders from pre-revenue to early revenue with 1–3M PLN initial cheques and follow-on up to 8M PLN, targeting teams with a genuine technical moat in cybersecurity, medtech, biotech, devtools, dual-use/defence, gamedev, robotics and spacetech — explicitly avoiding B2C and shallow AI. By mid-2026 it had made seven investments including the open-source cybersecurity platform Defguard, autonomous UAV startup DefendEye, Alzheimer's wearable developer Neuromedical, neuroprotection biotech Pikralida, Unreal Engine AI copilot Ludus AI, and devtools company Graftcode (€2.1M, led with DigitalOcean Ventures, 2026).
Stockholm, Sweden · Venture Capital HealthCap is one of Europe's largest dedicated life science venture capital firms, headquartered in Stockholm, Sweden. Founded in 1997, the firm invests in biotech, pharmaceutical, and medical device companies across the Nordic region and internationally. HealthCap has backed numerous successful life science companies over more than two decades and manages multiple funds with a strong track record in European biotech.
Copenhagen, Denmark · Venture Capital Heartcore Capital is a Copenhagen-headquartered early-stage venture firm founded in 2007 as Sunstone Technology Ventures and rebranded to Heartcore in 2019 around a consumer-first thesis. Operating from Copenhagen, Berlin, Paris and London, it backs European founders from inception through Series A, deploying €250K–€6M as first institutional capital, and has become one of Europe's highest-ranked seed and Series A investors.
Across five early-stage funds, two growth vehicles and a Web3 fund, Heartcore manages roughly €800M; Fund V closed at €170M in December 2024, signalling a broadening from pure consumer into AI and software infrastructure, climate tech and synthetic biology while retaining consumer and travel exposure. The firm's track record includes Tink (acquired by Visa for €1.8bn, 2022), Peakon (Workday, ~$700M, 2021), Trustpilot (LSE IPO, 2021), Boozt (Nasdaq Stockholm, 2017) and Kaia Health (Sword Health, 2026), with a portfolio spanning GetYourGuide, TravelPerk, Podimo, Natural Cycles and Vivino. The partnership is led by co-founders Jimmy Fussing Nielsen and Christian Lindegaard Jepsen alongside Max Niederhofer (Berlin) and Yacine Ghalim (Paris).
Warsaw, Poland · Venture Capital An early-stage “angel fund” that invests in tech and communication startups, specializing in marketplaces, e-commerce, B2B, and IoT. It operates like an angel syndicate, with a portfolio including companies like Allani, Evenea, and Preply. Notable focus: seed-stage online platforms – Hedgehog provides capital plus hands-on involvement to spur growth (many of its investments later raised VC funding).
Bonn, Germany · Venture Capital High-Tech Gruenderfonds (HTGF) is Germany’s public-private seed investor. In 2022 it launched HTGF IV with about EUR 493m, backed by the Federal Ministry for Economic Affairs, KfW Capital, and 45 corporate LPs including BASF, Bayer, Bosch, and SAP. HTGF focuses on high-tech, industrial tech, chemistry, and life sciences and is a cornerstone early-stage fund in Germany.
Budapest, Hungary · Venture Capital Hiventures is Hungary's largest state-backed venture capital firm, operating under the Hungarian Development Bank Group with approximately €258 million under management. Founded in 1999, it is the most active VC in Central and Eastern Europe by deal count, with over 420 investments made to date. The firm focuses exclusively on Hungarian startups and invests across all stages from pre-seed through growth, with a current thematic emphasis on AI, DeepTech, MedTech, and GreenTech. Its co-investment model and patient capital approach make it the primary first institutional money for Hungarian founders.
Munich, Germany · Venture Capital HV Capital (formerly Holtzbrinck Ventures) is one of Germany's most established venture capital firms, investing from seed to growth stage across European technology companies. Founded as the VC arm of the Holtzbrinck publishing group, HV Capital manages over $2 billion and has backed iconic European companies including Zalando, Delivery Hero, FlixBus, and FINN. The firm focuses on technology-enabled business models and is a cornerstone investor in the DACH startup ecosystem.
Helsinki, Finland · Venture Capital Icebreaker.vc was founded in 2017 in Helsinki by Aleksi Partanen, Lasse Lehtinen, Riku Sepälä, and Teddie Wardi to address the pre-seed funding gap in Finland, Estonia, and Sweden. The firm targets idea-stage companies with tickets of €150,000–€1.5 million, with Fund III targeting €30 million. Portfolio standouts include Hoxhunt (raised $40M Series B), Aibidia ($28M Series B), and ReOrbit (€45M Series A). Icebreaker is known for its diversity focus, backing 3.5× more immigrant founders than the Finnish VC average.
London, United Kingdom · Venture Capital ICONIQ Growth is the growth-equity and venture arm of ICONIQ, investing in technology companies from early traction through IPO and beyond. It partners with founders at critical inflection points across software, fintech and other sectors, and invests internationally including from a London presence.
Belgrade, Serbia · Venture Capital ICT Hub Venture is a private investment fund founded in 2017 as the capital arm of ICT Hub, one of Serbia's pioneering startup incubators. It focuses on pre-seed and seed technology startups in the SEE region, offering up to €50,000 in exchange for 5–15% equity alongside a structured development program and ecosystem access. The fund positions itself as the only private early-stage fund in the SEE region dedicated to scalable B2B and B2C tech solutions. Portfolio includes cybersecurity platform Trickest and scheduling marketplace randevu, among 15+ companies as of 2024.
Kyiv, Ukraine · Venture Capital ICU Ventures is the venture capital arm of ICU Group, Ukraine's largest independent asset management and investment banking firm, established in 2006 by former ING senior professionals. The venture arm, active since 2018, focuses on late seed and Series A investments of $200K–$5M in tech companies with strong Ukrainian ties across fintech, deep tech, mobility, and enterprise software. With 40+ investments to date, the portfolio includes Respeecher (AI voice technology) and Khazna (fintech), with the most recent disclosed investment made in February 2025. ICU Ventures operates from Kyiv and continues to actively back Ukrainian-rooted founders building global businesses.
Riga, Latvia · Venture Capital Imprimatur Capital Fund Management is a Riga-based early-stage venture capital firm founded in 2010 and affiliated with London-headquartered Imprimatur Capital Ltd. The firm manages seed and start-up funds backed by the Latvian Guarantee Agency and institutional investors, with over €17M under management and more than 70 portfolio companies. It targets B2B software, digital health, learning and training, and robotics startups at pre-Series A in the Baltic Sea Region. Key partners include Toby Moore (Managing Partner) and Jānis Janevičs (Partner).
Milan, Italy · Venture Capital Founded in 2016 by Davide Turco, Elizabeth Tosto, Antonella Grassigli, and Alvise Bonivento, Indaco Venture Partners SGR is Italy's largest independent venture capital management company, with over €350 million in assets under management across six funds. The firm specialises in proprietary-technology companies at Series A and B, with deep expertise in electronics, robotics, medtech, advanced materials, and digital sectors. Notable portfolio companies include Newronika (adaptive deep brain stimulation), Sibylla Biotech, Almawave, and Codasip; exits include Silicon Biosystems and Directa Plus. Indaco's differentiated focus on hardware-intensive and science-driven startups sets it apart from Italy's mostly software-focused VC landscape.
London, United Kingdom · Venture Capital Index Ventures is a globally renowned venture capital firm that originated in Europe and has been instrumental in scaling many of the continent’s top tech companies. Founded in Geneva in 1996 by the Daly brothers and Neil Rimer, Index later opened major offices in London and San Francisco, making it a transatlantic VC powerhouse. Index invests at all stages (seed to growth), though it is especially prominent in Series A/B in Europe. The firm has an extraordinary track record: it was an early backer of Skype (sold to eBay), Last.fm (sold to CBS), Supercell (acquired by Tencent), and MySQL (acquired by Sun) in the 2000s, and more recently of Deliveroo, Adyen, Figma, Revolut, Robinhood and Notion – to name a few. Index’s portfolio spans consumer and enterprise: it has seeded fashion marketplaces like ASOS and Farfetch, scaled up fintech stars like TransferWise (Wise) and Robinhood, and supported open-source and SaaS successes (Elastic, Confluent, Collibra). The firm manages multiple funds (it raised a $3B+ set of funds in 2022) and often co-invests across its early and growth funds to support companies long-term. Index is particularly known for its knack in consumer-facing startups and its ability to spot trends early (e.g., it led Patreon’s Series A in the creator economy space, and Discord’s seed in gaming communication). Partners at Index are a cosmopolitan bunch – with backgrounds ranging from gaming entrepreneurs to investment bankers – and they bring a strong network in both Silicon Valley and Europe. Uniquely, Index also has a life sciences arm (Index Life) that invested in companies like Moderna. In Europe, Index has been among the top three most active VCs by number of unicorns backed. For example, Index led Deliveroo’s Series B in 2014 and remained a major shareholder through its 2021 IPO. Similarly, Index was pivotal in Adyen’s growth (now a ~$50B payments giant). Culturally, Index is known for being founder-friendly and global in outlook – encouraging its European portfolio to expand to the US when needed and vice versa. It also frequently publishes insightful content (e.g., Bernard Dallé’s guides on SaaS metrics or interviews with founders). As of 2025, Index Ventures stands as a gold-standard VC, with a portfolio boasting dozens of IPOs and acquisitions, and a current crop of rising stars across continents.
Lisbon, Portugal · Venture Capital Indico Capital Partners is Portugal's first and leading independent early-stage venture firm, founded in Lisbon in 2017 by Stephan Morais and Ricardo Torgal (both ex-Caixa Capital) and Cristina Fonseca (co-founder of Talkdesk). Since its first fund close in 2019 it has built a >€244M multi-fund platform spanning six vehicles, including VC Fund I (€54M), an Acceleration Fund, an Opportunity Fund, the €50M Indico Blue ocean-economy fund, VC Fund II, and the newly launched VC Fund III (€125M target with a €30M EIF anchor, 2025).
The firm invests from pre-seed to Series B with €100K–€10M cheques, focused on Portugal, Spain and Italy and the Southern European diaspora, across enterprise SaaS, AI, deep tech, fintech, cybersecurity, spacetech and the blue economy. Backed by the European Investment Fund, Banco Português de Fomento and Draper Esprit (now Molten), Indico bridges Southern Europe's talent to global capital. Its portfolio includes unicorns Anchorage Digital, Sword Health, TIER Mobility and Remote, with exits including Unbabel (TransPerfect, 2025) and Cargofive (cargo.one, 2026).
Amsterdam, Netherlands · Venture Capital INKEF Capital is an Amsterdam-based venture capital firm launched in 2010 with backing from APG, one of the world's largest pension fund asset managers. The firm manages over EUR 500M and invests at Series A in healthcare, enterprise software, and fintech companies across Europe. INKEF typically writes checks of EUR 3-10M and takes board seats, providing patient institutional capital with a long-term investment horizon. The portfolio includes companies like Adyen (early investor), Meatable, and MessageBird. INKEF's unique LP structure gives it the ability to support companies through extended growth cycles without typical fund-life pressure.
Baku, Azerbaijan · Venture Capital Launched in October 2024 at the INMerge Innovation Summit in Baku, InMerge Ventures is Azerbaijan's second institutionally backed venture capital fund, with an authorized capital of $4 million contributed equally by the Innovation and Digital Development Agency, Azerbaijan Investment Company, PASHA Future Lab, and Trendyol Group. The fund focuses on digital technologies, e-commerce, and innovation-driven startups from the Caucasus, Central Asia, Central and Eastern Europe, and the MENA region. Key founding figures include Inara Valiyeva (Chairwoman, Innovation and Digital Development Agency), Yasin Jalilov (Deputy Executive Director, Azerbaijan Investment Company), and Farrukh Aliyev (CEO, PASHA Future Lab). Its co-sponsorship by Trendyol Group, the Turkish e-commerce giant, gives it a distinctive cross-border e-commerce and marketplace angle.
Sofia, Bulgaria · Venture Capital Innovation Capital is a Sofia-based venture capital fund with €21.1 million under management, established in 2019. The fund provides equity and quasi-equity funding to Bulgarian startups at acceleration, pre-seed, and seed stages. It is sector-agnostic with particular interest in enterprise software, e-commerce, fintech, healthcare, logistics, and cybersecurity. Innovation Capital is co-funded through EU structural funds and focuses on disruptive, scalable Bulgarian-founded businesses.
Warsaw, Poland · Venture Capital Inovo Venture Partners is Warsaw-based and one of Poland's leading seed-stage venture firms, backing technology founders from Central and Eastern Europe building for global markets. Founded in 2014 with a €8M Fund I, Inovo has scaled to roughly €167M across three funds: Fund II (€54M, 2021) and Fund III (€105M, 2023), the latter backed by IFC, the European Investment Fund and PFR Ventures alongside private LPs including InPost founder Rafał Brzoska and Snowflake co-founder Marcin Żukowski. The firm writes €0.5–4M initial tickets at pre-seed and seed, with follow-on capacity up to €10M.
Inovo concentrates around 60% of each fund in Poland and the remainder across CEE — with investments in Croatia, Lithuania, Serbia, Ukraine, Slovakia and Romania — and opened a Balkans hub in Skopje in 2024. It is generalist within technology but has particular conviction in AI, developer tools, digital health, SaaS and B2B software. The portfolio spans more than 55 companies, including Booksy, Tidio, Spacelift, Infermedica, Preply, Packhelp and AI Clearing. Notable outcomes include the Warsaw Stock Exchange IPOs of Brand24 and ECC Games and the acquisition of SplxAI by Zscaler in 2025, one of the largest CEE AI exits to date.
London, United Kingdom · Venture Capital Insight Partners is a New York-headquartered global venture capital and private equity firm with a significant London presence, founded in 1995. The firm manages over $80B and is one of the world’s largest dedicated software investors, backing companies from Series B through IPO and beyond. Insight has invested in 800+ companies globally including Shopify, Twitter, Vinted, Wiz, and SemRush. In Europe, the firm actively invests in growth-stage software, SaaS, and data infrastructure businesses, typically deploying $50-200M per deal and providing its proprietary Insight Onsite operational support platform.
Helsinki, Finland · Venture Capital Inventure was founded in 2005 in Helsinki by Timo Tirkkonen, with Tuomas Kosonen (ex-Nokia, ex-Rovio CFO) joining shortly after; the firm manages approximately €377 million in assets under management across four funds, with Fund IV closing at €144 million. The firm backs Seed and Series A companies across the Nordics and Baltics with tickets of €300,000–€5 million, focusing on deep tech, B2B SaaS, consumer internet, health tech, and AI. Its portfolio includes Wolt, Swappie, and Stravito. Inventure is one of the most established and prolific seed-stage investors in the Nordic ecosystem.
Edinburgh, United Kingdom · Venture Capital Investing Women Angels is Scotland’s first all-female business angel syndicate, based in Edinburgh and focused on backing female-founded and female-led businesses seeking to create positive impact. The syndicate has backed 25 companies with £2.3 million in investment, with 90% directed toward female-founded enterprises. Led by Chair Lucy Henderson, it also works to attract more women into angel investing through education, community programmes, and its sister initiative AccelerateHER.
Vilnius, Lithuania · Venture Capital Iron Wolf Capital is Vilnius-founded deep tech and AI fund established in 2018, with additional offices in London and Tallinn. Its second fund, closed at €100 million, is the largest seed-stage deep tech fund in Baltic history, targeting 25 early-stage companies across AI, photonics, robotics, and space innovation built by Baltic founders and diaspora globally. The team combines backgrounds from Deutsche Bank, YPlan, and early Lithuanian VC history; initial tickets run €0.5–2 million and the fund typically leads or co-leads rounds. Iron Wolf has backed over 20 startups covering sectors from agritech and pharma to defence-adjacent AI.
Tallinn, Estonia · Venture Capital Founded in 2016 by Kristjan Laanemaa, Margus Uudam, and Tommi Uhari, Karma Ventures is one of Estonia's most prominent deep-tech venture capital firms. Its €70M Fund I and €100M Fund II back late-seed and Series A European deep-tech software startups, with tickets up to €5M. The firm is particularly active in AI, cybersecurity, health tech, and enterprise software across Europe. Notable portfolio companies include Starship Technologies, Tuum (formerly Modularbank), Sonarworks, Infermedica, and CybExer Technologies, establishing Karma as the go-to Tallinn-based partner for hard-tech European founders.
Prague, Czech Republic · Venture Capital KAYA is a Prague-based venture capital firm that invests early in ambitious founders building category-defining technology companies, staying involved from inception through to market leadership. Operating as an equal partnership, it backs Central European and international startups across software and deep tech.
Tbilisi, Georgia · Venture Capital Kedari Ventures is a Tbilisi-based early-stage investment fund founded by Dimitry Kumsishvili, who served as Georgia's Minister of Finance and First Vice Prime Minister before moving to the private sector. The fund targets digital platforms with global expansion potential across e-commerce, logistics, education, and entertainment, and has built a portfolio of over 10 companies employing more than 100 people. Fund size is not publicly disclosed; the firm has deployed approximately 993,000 GEL in equity and 2.5 million GEL in loans across portfolio companies. Kedari also co-founded AXEL, Georgia's first structured business angel network, in partnership with Tbilisi Startup Bureau.
Amsterdam, Netherlands · Venture Capital Keen Venture Partners is an Amsterdam-based venture capital firm founded in 2015, investing at Series A and B in enterprise software, fintech, and consumer internet companies across Europe. The firm manages over EUR 200M and writes checks of EUR 2-10M, often leading or co-leading rounds alongside top-tier European and US co-investors. Keen's partners bring extensive operating experience from companies like Booking.com and Adyen, and the firm focuses on data-driven businesses with strong unit economics and clear paths to profitability.
Paris, France · Venture Capital Kima Ventures is one of the world's most prolific seed-stage investors, founded in 2010 by Xavier Niel (founder of Free/Iliad) and Jeremie Berrebi. Based in Paris, Kima invests in approximately 100 startups per year with typical ticket sizes of EUR 150K, making it among the most active angel-style funds globally. The firm has backed over 1,000 companies across 50+ countries, with notable investments including Alan, Luko, Mistral AI, and Algolia. Kima focuses on technology generalists at pre-seed and seed, providing fast decision-making and access to Xavier Niel's extensive entrepreneurial network.
Nicosia, Cyprus · Venture Capital Kinisis Ventures was co-founded in 2018 by Andreas Panayi and Yiannos Georgiades as a Cyprus-US bridge accelerator and investment firm, with its registered office in Nicosia. Its regulated KV Kinisis Ventures Fund RAIF VCIC (KV Fund I and II), managed in partnership with AIFCAP Managers and licensed by CySEC, is the first CySEC-registered early-stage VC focused exclusively on Cypriot technology companies targeting US market expansion. The fund writes seed tickets of €1.5M–€4M in cybersecurity, fintech, AI-enabled platforms, and energy-tech, with portfolio companies including Threedium (3D imaging), Phase3D (metal-printing quality assurance), and Autonomics Tech (autonomous industrial robotics).
Stockholm, Sweden · Venture Capital Kinnevik is a Stockholm-based growth-stage investment company listed on Nasdaq Stockholm that backs innovative digital businesses in healthcare, software, consumer, and climate sectors. Originally a traditional Swedish industrial conglomerate founded in 1936, Kinnevik transformed into a focused growth investor and was an early backer of companies like Zalando, Tele2, and Millicom. The firm manages a portfolio valued at several billion euros and takes concentrated positions in companies it believes can become category leaders. Kinnevik provides patient capital with a long-term orientation unusual among European growth investors.
Zurich, Switzerland · Venture Capital Lakestar is a Zurich-headquartered venture capital firm founded in 2012 by Klaus Hommels, one of Europe's most prolific and publicly visible technology investors, whose pre-Lakestar angel track record included early bets on Skype, Spotify, and Facebook in Europe. The firm runs a multi-stage strategy spanning early-stage funds, growth funds, and public/crossover vehicles, with offices in Zurich, Berlin, London, and Zug. Notable portfolio companies include Revolut, N26, Mister Spex, Blockchain.com, GetYourGuide, FlixBus, and Opendoor. Lakestar manages over EUR 2 billion across funds and has been a vocal advocate at the EU level for scaling up European technology sovereignty, having been involved in initiatives like the European Tech Champions Initiative and the Scale-Up Europe pledge. It is one of the few continental European VCs that operates across the full venture lifecycle at significant scale.
Sofia, Bulgaria · Venture Capital Founded in 2012 by Lyuben Belov and partners, LAUNCHub Ventures is Sofia's largest dedicated early-stage VC, currently deploying its third fund which closed oversubscribed at €74M in late 2021 (first close €44M). The fund invests at pre-seed and seed stages with ticket sizes of €300K–€3M, backing founders across South-Eastern and Central-Eastern Europe. Sector focus spans fintech, proptech, future of work, devtools, health tech, and enterprise software; portfolio includes Quantive (strategy platform), OfficeRnD (flex-space SaaS), FintechOS, and Giraffe360. Seventy-five percent of portfolio companies have raised follow-on rounds, with aggregate follow-on capital exceeding €400M.
Budapest, Hungary · Venture Capital Lead Ventures is a Budapest-based independent VC firm founded in 2017, specialising in late-Seed and Series A investments in scale-ups across Central and Eastern Europe and the Baltics. The firm closed its second fund at €100 million in 2024, deploying initial tickets of €2–5 million with follow-on capacity up to €10 million. It has backed over 20 companies and claims the largest VC exit in Hungarian history with its investment in AImotive, acquired by Stellantis. Beyond capital, the firm differentiates on access to an international network of industry operators and domain experts.
Helsinki, Finland · Venture Capital Lifeline Ventures was founded in 2009 in Helsinki by Petteri Koponen and Timo Ahopelto and has grown into Finland's largest VC focused on unlisted growth companies, raising its €400 million Fund VI in 2025. The firm invests at the angel and seed stage with tickets of €100,000–€2 million, backing sector-agnostic founders from day one across Europe. Lifeline has seeded most of Finland's best-known unicorns, including Supercell (acquired by Tencent for $8.6B), Wolt (acquired by DoorDash for $8.1B), Oura, ICEYE, and Aiven. With over 115 portfolio companies and more than a dozen exits, it is the benchmark early-stage firm in the Finnish ecosystem.
Zurich, Switzerland · Venture Capital Lightrock is an impact-focused growth equity platform backed by LGT Group, the private banking and asset management group owned by the Princely House of Liechtenstein. Founded in 2019 as a spin-out from LGT's direct private equity activities, Lightrock deploys growth equity tickets of €10–50M into companies demonstrating measurable positive impact across climate, health, and financial inclusion. The firm operates from London with offices in Basel, New Delhi, São Paulo, and other cities, giving it an unusually broad emerging-market reach alongside its European portfolio. Notable portfolio companies include Bima, Karma Kitchen, and Proxona. Lightrock occupies a distinctive position in European impact investing: it combines the balance sheet credibility of a century-old royal banking group with a focused mandate, operational on-the-ground presence, and a willingness to invest in geographies and sectors that conventional growth equity skips. For Swiss and European founders building in healthcare access, climate solutions, or financial inclusion, Lightrock is one of the few growth-stage investors that evaluates impact metrics alongside financial ones.
London, United Kingdom · Venture Capital Lightspeed Venture Partners is a global multi-stage venture capital firm with a dedicated European practice based in London. The firm has been a key growth-stage investor in major European companies including Mistral AI, Miro, and Epic Games, and focuses on enterprise SaaS, consumer internet, and AI. Lightspeed manages over $18 billion globally and has expanded its European team to source and support founders across the continent.
London, United Kingdom · Venture Capital LocalGlobe is a London-based venture capital firm, part of the Phoenix Court group founded by Robin and Saul Klein, that focuses on seed-stage investments in the UK and Europe. It has been an early backer of companies such as Wise, Citymapper, Improbable and Zoopla, and runs a family of funds spanning seed through growth stages.
Helsinki, Finland · Venture Capital Maki.vc was founded in 2018 in Helsinki by serial entrepreneur and Slush Chairman Ilkka Kivimäki and former F-Secure executive Pirkka Palomäki, and now manages €260 million across three funds. Its November 2024 Fund III of €100 million targets pre-seed and seed-stage companies across the Nordics and Northern Europe, with tickets of €300,000–€3 million, focusing on deep tech, AI-native, quantum computing, green tech, and brand-driven consumer startups. The fund is backed by LPs including founders of Skype, Wise, RELEX Solutions, Aiven, and Supercell. Portfolio includes IQM Quantum Computers (unicorn 2025) and Enfuce.
Sliema, Malta · Venture Capital Malta Venture Capital (MVC) is a €10 million government-backed equity fund launched in 2024 and managed from offices in Sliema, under the auspices of Malta Government Investments. It co-invests alongside private investors in early-stage, high-growth digital and technology-driven businesses, with each eligible startup able to receive up to €500,000 in equity. Target sectors include video game development, fintech, e-sports, life sciences, agritech, AI, and green energy. Since launch MVC has invested in five companies and assembled a network of 30 accredited co-investors.
Luxembourg, Luxembourg · Venture Capital Mangrove Capital Partners is one of Europe's most storied early-stage venture capital firms, founded in Luxembourg in 2000 by Mark Tluszcz, Gerard Lopez, and Hans-Jürgen Schmitz. The firm manages over $1 billion in assets and has backed 8 unicorns, including Skype (a $2 million investment that returned $200 million) and Wix (an $8 million bet that returned $700 million). Mangrove invests at pre-seed and seed stage across Europe and Israel, with a team spanning Luxembourg, Berlin, Paris, Barcelona, and London. Portfolio companies include Flo Health, WalkMe, K Health, Talkwalker, and Doctena.
Warsaw, Poland · Venture Capital Manta Ray VC is the technology venture arm of Kulczyk Investments, founded by Sebastian Kulczyk to back globally scalable Polish-rooted startups. The fund invests in growth-stage technology companies and has been associated with high-visibility outcomes such as ICEYE (SAR satellites) and Iceye-affiliated deep-tech bets. It complements the broader Kulczyk Investments ecosystem and the InCredibles founder programme.
Athens, Greece · Venture Capital Marathon Venture Capital was founded in 2017 by George Tziralis and Panos Papadopoulos (co-founder of BugSense, acquired by Splunk) in Athens to back ambitious Greek and diaspora founders building global technology companies. Fund I reached €32M and Fund II expanded to €70M; Fund III closed at €75M in May 2025 (with €20M from EIF), bringing total AUM to approximately €175M. The fund leads seed rounds of €500K–€1M in sectors including cybersecurity, AI, defense tech, robotics, and energy. Notable portfolio companies include Hack The Box (cybersecurity training, $55M Series B led by Carlyle) and Augmenta (precision agriculture robotics, acquired by CNH Industrial for $110M).
Warsaw, Poland · Venture Capital MCI Capital is a Warsaw-listed digital private equity and growth investor and one of the largest mid-market technology PE groups in Central and Eastern Europe. Founded in 1999 by Tomasz Czechowicz and listed on the Warsaw Stock Exchange (ticker: MCI), the firm manages roughly €650M (PLN 2.7bn) in assets, deployed through two evergreen funds — MCI.EuroVentures and MCI.TechVentures, both launched in 2008. MCI targets expansion and buyout transactions of €25–100M, taking majority or significant stakes in two to three companies a year across SaaS, e-commerce and marketplaces, fintech, insurtech, foodtech, traveltech and digital infrastructure.
Geographically the firm concentrates on Poland and the wider CEE region — including Hungary, the Czech Republic, Austria, Slovakia and Lithuania — with selective reach into Western Europe. Since inception MCI has completed over 110 investments and more than 90 divestments, delivering landmark exits including iZettle (sold to PayPal for $2.2bn in 2018), Dotpay/eCard (Nets/Nexi, 2019), Azimo (Papaya Global, 2022) and a partial exit from Answear.com in 2025. Its listed structure, backed by institutional shareholders including the Nationale-Nederlanden pension fund, gives MCI permanent-capital characteristics rare among European mid-market PE peers.
Athens, Greece · Venture Capital Early-stage VC fund (EUR 50M+ AUM) investing pre-seed to seed+ (EUR 200K-1.5M) in tech startups with strong Greek ties across AI, deep tech, fintech, healthtech and maritime. Portfolio includes Useberry and FerryHopper.
Luxembourg, Luxembourg · Venture Capital MiddleGame Ventures is a Luxembourg-headquartered fintech-focused venture capital firm co-founded in 2016 by Michael Meyer and Patrick Pinschmidt, with Pascal Bouvier as Managing Partner. The firm has deployed over €300 million across 50+ companies and raised a €150 million third fund with an initial close, backed by the Luxembourg Future Fund successor (SNCI). It focuses on open finance, embedded fintech, blockchain/crypto infrastructure, and automated financial data across Europe and North America. Portfolio includes Bitpanda, Carta, Keyrock, and Minna Technologies, with four unicorns and one IPO among its exits.
London, United Kingdom · Venture Capital Molten Ventures, formerly Draper Esprit, is a London-based venture capital firm listed on the London Stock Exchange and Euronext Dublin that invests in high-growth European technology companies from Series A onward. One of Europe's most active listed VCs, it backs and follows on in scale-ups across software, deep tech, consumer and fintech.
Sofia, Bulgaria · Venture Capital Morningside Hill Capital Management is a Sofia-based privately owned investment firm founded in 2014. Its venture capital fund, launched in 2019 with €38.5 million under management (co-financed via EU structural funds), focuses on post-seed and Series A investments in Bulgarian startups. The fund is sector-agnostic and targets companies where at least 50% of revenue, staff, or assets are based in Bulgaria. It has made investments including a €3 million+ deployment into four Bulgarian startups.
Warsaw, Poland · Venture Capital Warsaw-based multi-stage venture capital firm backing Central and Eastern European tech founders with global ambitions. Movens Capital runs a €60M Fund 2 (launched 2025) and writes first checks of €250k–€3M at pre-seed through Series A+. Focus areas: fintech, edtech, healthtech, deep tech, climate tech, enterprise software, and e-commerce enablement across Poland, the Baltics, the Balkans, Czechia, Slovakia, Hungary, Romania, Ukraine, and Moldova. Founded in 2018 by Artur Banach and Michał Olszewski. Fund LPs include the European Bank for Reconstruction and Development (EBRD), PFR Ventures, and 80+ tech founders, operators, and family offices. Notable exits include MEDICAlgorithmics (IPO) and Fenige.
Stockholm, Sweden · Venture Capital Navigare Ventures is a Nordic deep tech venture capital firm and fully owned subsidiary of Wallenberg Investments AB, investing at seed and Series A stages in science-driven companies across the Nordic region. Its core investment themes span future of computing, advanced materials, and life science, with a portfolio covering AI, quantum computing, synthetic biology, and nanotechnology. Navigare Ventures is a long-standing partner of the NORDEEP Nordic Deep Tech Business Summit and plays an active role in the broader Nordic innovation landscape.
Bratislava, Slovakia · Venture Capital Neulogy Ventures is one of the leading deeptech venture capital funds in Central and Eastern Europe, established in 2014 and operating from Bratislava with a Luxembourg fund structure. It manages €65 million in assets under management across approximately 30 portfolio companies in 10 countries, writing cheques of €200,000–€3 million primarily at Seed and Series A stages. The fund targets mission-driven Slovak and CEE technology companies addressing climate change, healthcare, and industrial automation. Institutional co-investors include the European Investment Fund, Slovak Investment Holding, and Tatra banka.
Helsinki, Finland · Venture Capital NGP Capital is a global venture capital firm that originated from Nokia's venture investment program and now operates independently, investing in technology startups across Europe, the United States, and Asia. The firm focuses on software, deep tech, and digital infrastructure investments and has maintained a strong presence in the Nordic startup ecosystem since its founding. NGP Capital has offices in Helsinki, Menlo Park, and Beijing, making it one of the Nordic region's most internationally active VC funds.
Copenhagen, Denmark · Venture Capital NorthCap (Northcap Partners) is a Copenhagen-based venture capital firm founded in 1999, focused on B2B and B2B2C technology companies across the Nordics, with a particular emphasis on SaaS, cloud computing, and mobile services. The firm invests from seed stage (Denmark only) through growth stage, with ticket sizes ranging from $1 million to $25 million, and draws on more than 100 investments of operational experience to support founders in scaling and internationalization. Notable investments include GAN Integrity and Visiopharm.
London, United Kingdom · Venture Capital Northzone is a prominent European venture capital firm with Scandinavian roots, known for early bets on companies like Spotify and Klarna. Founded in 1996 in Oslo (and now headquartered in Stockholm with a big presence in London), Northzone is an evergreen VC fund that has raised 9 funds to date. It invests from Seed and Series A up to Growth (Series B/C), typically focusing on consumer internet, fintech, and B2B SaaS. Northzone rose to fame as the earliest institutional investor in Spotify – it led Spotify’s $21M Series A in 2008 and remained a major shareholder until IPO. It was also an early backer of Klarna (led the $8M Series A in 2010) and other Nordic breakouts like iZettle (payments, acquired by PayPal) and Avito (Russian classifieds, acquired by Naspers). Over the years, Northzone expanded its geographic focus to include the UK, Benelux, and the US East Coast (they’ve invested in Wallapop in Spain, Personio in Germany, and Secret Escapes in UK, among others). The firm’s investment approach is relatively hands-on – partners often take board seats and leverage Northzone’s network for business development of their portfolio. With approximately €1.5 billion under management, Northzone typically writes initial checks of €2–10M and can follow on with much larger amounts. In 2022, Northzone raised a new €1B+ fund, reflecting growing LP interest in European tech. The team blends operational experience and finance acumen; notable partners include Pär-Jörgen Pärson (who led the Spotify deal) and Michiel Kotting (who sits on Personio’s board). Northzone often leads or co-leads rounds and likes to syndicate with US VCs when scaling globally. Beyond fintech and music tech, they have investments in healthtech (Kry), edtech (Kahoot!), crypto (Sovereign), and more – showcasing a broad thesis of “transformative tech.” Northzone’s steady success over 25+ years – producing multiple billion-dollar exits – has cemented its reputation as one of Europe’s top-tier venture firms, bridging the vibrant Nordic ecosystem with the rest of the continent.
London, United Kingdom · Venture Capital Notion Capital is a London-based venture firm founded in 2009 by the team behind MessageLabs and Star — Jos White, Ben White, Stephen Chandler, Chris Tottman and Ian Milbourn — who built MessageLabs before its $700M sale to Symantec. The firm invests exclusively in European B2B software and fintech, with a sweet spot at Series A (companies at or near product-market fit, typically $1M+ ARR) and initial cheques of €1–8M.
Across five venture funds and three growth vehicles Notion has raised over $1bn in total AUM; Fund V closed at its €300M hard cap in 2023 and Growth Opportunities III added $130M in 2025 to back the firm's best companies longer. Its thesis spans four software categories — Knowledge (AI-enhanced SaaS), Money (fintech), Labour (services-as-software) and Machines (software in physical environments, including defence). Marquee outcomes include Currencycloud (acquired by Visa for ~$963M, 2021) and GoCardless (acquisition by Mollie announced at ~$1.1bn, 2025), with a portfolio that also features Paddle, Mews, Quantum Systems, Workable, TestGorilla and Upvest.
Hellerup, Denmark · Venture Capital Novo Holdings is the investment arm of the Novo Nordisk Foundation and the largest life science investor in Denmark. It backs biotech, medtech, and health innovation across seed, venture, and growth stages while also managing the foundation's long term ownership in Novo Nordisk and Novozymes. The firm provides patient capital, deep scientific expertise, and global networks for founders building therapies, diagnostics, and industrial biotech solutions. Novo Holdings is a cornerstone of the Danish life science ecosystem.
Belgrade, Serbia · Venture Capital Omorika Ventures is a Belgrade-based seed and early Series A fund launched in 2024 to address the shortage of institutional early-stage capital in Serbia and the broader Balkans. The fund secured €5 million in public co-funding through the Innovation Fund of Serbia's Serbia Ventures program and is operated by three founding partners with deep roots in the regional startup ecosystem via ICT Hub. It invests in tech companies with globally ambitious Serbian founders, providing capital alongside strategic support, mentorship, and international investor introductions. Portfolio companies include cybersecurity platform Trickest and HR-tech startup OneAssessment.
Vilnius, Lithuania · Venture Capital Open Circle Capital is a Vilnius-based early-stage fund founded in 2017, backed two-thirds by the Lithuanian public institution INVEGA and one-third by private investors, with a mandate to invest up to €20 million in the commercialisation of Baltic technology. The fund targets ICT, robotics, high-tech, AI, and IoT companies primarily in Lithuania and Northern Europe, writing seed-stage cheques. Its 17-company portfolio has recorded three acquisitions — Frontu, Eddy Travels, and Paysolut — and the partners collectively bring experience spanning more than 80 technology-transfer transactions and seven previous funds. The team has prior exit history with global acquirers including Facebook, Saab, and Eli Lilly.
Riga, Latvia · Venture Capital Outlast Fund is an early-stage venture capital firm co-headquartered in Riga and Stockholm, founded in 2024 by Egita Polanska, Marija Rucevska, Kristaps Prusis, and Mikaela Pedersen. The fund closed its debut €21 million vehicle backed by Latvian sovereign fund Altum, the EU's ERDF, and Baltic angel investors. It targets pre-seed tickets up to €250k and seed rounds up to €1.5 million, with a focus on B2B SaaS, fintech, and cybersecurity across the Baltics and Nordics.
Riga, Latvia · Venture Capital Overkill Ventures is a pre-seed B2B tech fund founded in 2017 and headquartered at Dzirnavu iela 105 in Riga, Latvia. The firm backs founders it calls 'overkillers' — operators who work smarter and challenge conventions — primarily across the Baltics, Nordics, CEE, and CIS regions. Overkill focuses on helping startups reach product-market fit and has made over 40 investments to date. It is registered as an Alternative Investment Fund Manager (AIFM) in Latvia under the entity Overkill Ventures AIFP.
Budapest, Hungary · Venture Capital OXO Ventures is the venture capital arm of OXO Group, a Budapest-based multi-stage technology investment platform founded by former Hungarian Finance Minister Péter Oszkó. Established in 2017 with a €50 million EIF-backed fund, the firm takes a sector-agnostic approach to early and growth-stage tech investments across the CEE, DACH, Benelux, and Nordic regions. OXO Group combines an accelerator (OXO Labs), an angel network (OXO Angels), and the VC fund under one roof, enabling investment from the earliest stages. Notable portfolio exits include Commsignia, which raised a Series B from LG Electronics, Samsung Catalyst Fund, and Qualcomm Ventures.
Milan, Italy · Venture Capital Founded in 2013 by Andrea Di Camillo — a serial entrepreneur behind Vitaminic and Banzai and an early investor in Yoox and Venere — P101 is one of Italy's most prominent early-stage VC firms, managing approximately €500 million AUM. Its latest vehicle, Programma 103, closed at €250 million in early 2025, targeting early-stage startups in fintech, proptech, edtech, and cybersecurity with an average ticket of €5 million. Over 12 years P101 has backed 58+ companies and completed roughly 290 transactions with ~20 exits; standout portfolio names include Musixmatch (acquired by TPG for ~$500 million in 2023). The firm has a stated goal that Programma 103 companies will collectively generate €5 billion in revenue and 3,000+ jobs by 2030.
Stockholm, Sweden · Venture Capital Pale Blue Dot is a Swedish venture capital firm dedicated exclusively to investing in early-stage climate tech companies across the Nordic region and Europe. Founded to accelerate decarbonization through technology-driven solutions, the fund backs startups working on energy transition, carbon capture, sustainable food systems, and related sectors. It is one of the most prominent climate-focused VC funds operating in Scandinavia and a partner organization at NORDEEP 2026.
Paris, France · Venture Capital Partech is a global venture capital firm founded in 1982 in San Francisco and now headquartered in Paris, with additional offices in Berlin, Dakar, and San Francisco. The firm manages over EUR 2.5B across seed, venture, and growth funds, investing from EUR 200K pre-seed tickets up to EUR 50M+ growth rounds. Partech has backed over 250 companies including BlaBlaCar, Doctolib, Alan, Exotec, and Swile. The firm is one of the most active French VCs investing in Germany and Africa, and its Partech Africa fund is the largest dedicated tech VC fund on the continent.
London, United Kingdom · Venture Capital Passion Capital is an early-stage London VC founded in 2011 by Eileen Burbidge, Stefan Glaenzer, and Robert Dighero. The fund backs European early-stage technology companies, with a portfolio that has included Monzo, GoCardless, and DueDil. Passion is recognised for hands-on founder support and has been an influential voice in UK tech-policy discussions for over a decade.
Amsterdam, Netherlands · Venture Capital Peak is an Amsterdam-based seed venture capital firm founded in 2013 by a group of serial European founders — Johan van Mil, Daniel Hennes, Madeline Lawrence, and later Luc Mader — who wanted to build a fund explicitly aimed at first-time SaaS, marketplace, and platform founders in Europe. The firm writes initial checks of EUR 500K to EUR 4M at pre-seed and seed, reserves meaningful follow-on capacity through Series A, and takes a hands-on partner model that is unusually involved in hiring, pricing, and product-strategy work for portfolio companies. Peak's portfolio has included Trengo, Creative Fabrica, Catawiki, Miinto, Homerun, and Recruitee, and the firm is one of the most consistent seed-stage names in Benelux/DACH venture. It closed its fifth fund in 2023 and remains a reference seed investor for founders across the Netherlands, Belgium, Germany, and the Nordics.
Warsaw, Poland · Venture Capital PFR Ventures is the venture capital arm of the Polish Development Fund (Polski Fundusz Rozwoju), wholly owned by the Polish state, established in 2014 and based in Warsaw. The firm operates as the largest fund-of-funds manager in the Central and Eastern Europe region, managing over PLN 3 billion in assets across 80+ private VC funds that have collectively supported more than 900 startup investments. PFR Ventures co-invests alongside private LPs to leverage EU structural funds and catalyse private capital into the Polish venture ecosystem, backing early-stage through growth-stage funds in sectors including deep tech, SaaS, fintech, and life sciences. Its Innovate Poland programme launched in November 2025 with at least PLN 4 billion earmarked for the next investment cycle.
London, United Kingdom · Venture Capital Pledge Ventures is the venture capital arm of Founders Pledge, launched in 2023 to invest in high-growth technology companies whose founders have made binding philanthropic commitments. The fund operates on a rules-based model across sectors and geographies, aiming to create a self-reinforcing flywheel between entrepreneurial financial success and positive social impact. Co-founded by Niki Buys and David Goldberg, the fund backs a broad portfolio of technology companies and is a featured partner at Nordic Tech Week 2026.
London, United Kingdom · Venture Capital Plural is a London-based venture fund founded in 2022 by operator-investors Taavet Hinrikus (Wise), Sten Tamkivi (Skype, Teleport), Ian Hogarth (Songkick), and Carina Namih. The first fund closed at around EUR 250M to back European pre-seed and seed companies, with a thesis centred on founder-led investing — every partner has built and scaled a venture-backed company. Plural is positioned as a counter to traditional partner-led firms, with deep operator support.
Berlin, Germany · Venture Capital Point Nine is a Berlin-based seed-stage venture capital firm founded in 2011 by Christoph Janz and Pawel Chudzinski, specializing in B2B SaaS and online marketplaces. The firm manages over EUR 500M across multiple funds and typically invests EUR 500K to EUR 3M at seed, with follow-on capacity into Series A. Point Nine has backed notable companies including Zendesk (pre-IPO), Algolia, Typeform, Mambu, Chainalysis, and DocPlanner, establishing a strong track record in vertical SaaS and developer tools across Europe and North America.
Szczecin, Poland · Venture Capital A venture fund + angel network based in Szczecin, Pomerangels invests alongside business angels and syndicates in post-revenue companies. With a network of 100+ angels, they co-invest up to €4M in innovative SMEs across ICT, autonomous tech, biotech, etc. Notable focus: companies that already have strong angel syndicates; Pomerangels adds capital on top of angel rounds to scale these ventures.
Budapest, Hungary · Venture Capital PortfoLion is the venture capital and growth equity arm of OTP Bank, Hungary's largest bank, managing approximately €440 million in AUM across three distinct funds targeting seed, growth, and turnaround stages. Founded in 2010 and headquartered in Budapest, it is the most prominent institutional VC in the CEE region by assets under management, with 64 portfolio companies across Hungary and wider Central and Eastern Europe. Its seed fund deploys €500k–€3 million per ticket and the growth fund €5–30 million, with notable investments including SEON (which went on to raise $150 million from Creandum and IVP) and Tresorit (acquired by Swiss Post). The firm has a team of 33 professionals including five partners.
Lisbon, Portugal · Venture Capital Portugal Ventures is Portugal's principal state-backed early-stage venture firm, established in 2012 through the merger of Inovcapital, AICEP Capital Global Ventures and Turismo Capital. Headquartered in Porto with a Lisbon office, it operates within the Banco Português de Fomento group and manages roughly €288M across 16+ funds. Its mandate is to stimulate Portuguese entrepreneurship with risk capital at pre-seed, seed and Series A, writing tickets of €50K–€1.5M across digital and technology, industry, healthcare and tourism.
Since inception it has deployed over €230M into 256+ companies. Its portfolio has produced unicorns including BitSight (cybersecurity), Fever (live entertainment, exited 2026 at 15x) and Glovo, alongside exits in OutSystems and Farfetch (NYSE IPO, 2018). Other notable holdings include Feedzai, Aptoide, Codacy, JScrambler and Sword Health. New leadership for the 2025–2027 term is led by CEO Marco Neves.
Vilnius, Lithuania · Venture Capital Practica Capital is the most established venture capital firm in the Baltics, founded in Vilnius in 2011 and managing four funds totalling over €130 million in assets under management. The firm invests at pre-seed, seed, and selected Series A stages in marketplace, SaaS, and deep/industrial tech startups originating from Lithuania, Latvia, and Estonia, and now has partners on the ground in all three Baltic capitals. Its portfolio of 70+ companies includes CGTrader, TransferGo, PVcase, Interactio, Eneba, and Ovoko, with one IPO and six acquisitions to date. The €80 million third fund, closed in February 2024, is the largest seed fund ever raised in the Baltic region.
Warsaw, Poland · Venture Capital Pracuj Ventures is the venture arm associated with Grupa Pracuj co-founder Maciej Noga, focused on HR-tech, marketplace, and B2B software businesses across Europe. The fund leverages the broader Grupa Pracuj ecosystem for deal flow and operator support, and has backed 40+ companies including Symmetrical.ai, Jutro Medical, and SonarHome.
Copenhagen, Denmark · Venture Capital PreSeed Ventures (PSV) is a Copenhagen-area venture house rooted in the Technical University of Denmark (DTU), and Denmark's most active pre-seed investor. It operates three vehicles: PSV Tech (early-stage software, AI and digital-infrastructure fund), PSV Hafnium (Denmark's first dedicated deep-tech fund) and PSV Foundry (DTU's investment and incubation arm). PSV provides the first institutional capital to university spin-outs and technical founders, typically at idea or prototype stage, writing tickets of roughly €0.1–1.5M.
PSV Tech's first independent fund closed at DKK 412M (~€55M) in 2022, backed by Denmark's ATP pension fund, EIFO and Vækstfonden, with a €70M Fund II in fundraising. PSV Hafnium closed an oversubscribed €60M in December 2025, anchored by the European Investment Fund and EIFO, to back around 25 science-rooted spin-outs across quantum computing, cleantech, new materials, biotech and new space. PSV has backed early Danish successes including Trustpilot (LSE IPO, 2021), Glycom (acquired by DSM), Vivino, Lunar and Labster, and remains a crucial bridge from Nordic research to venture.
Naarden, Netherlands · Venture Capital Prime Ventures is one of the longest-running growth-stage venture firms in the Netherlands, founded in 1999 and operating from Naarden with additional presence in London. The firm writes Series B and later checks of EUR 10-40 million into European technology companies with proven revenue traction, with a sector focus spanning B2B SaaS, digital marketplaces, fintech, and consumer internet. Over more than two decades Prime has backed companies including Just Eat, Takeaway.com, Gemalto, TaxiCaller, Brandbank, Recommind, and Impraise, and has produced several of the most profitable Dutch venture returns on record. The firm is a useful example of a Benelux-headquartered fund that plays a growth-round role traditionally occupied by US crossover investors, and it is often one of the first calls for a Dutch or wider European scale-up raising its first big post-PMF round.
Milan, Italy · Venture Capital Primo Ventures (operating entity: Primomiglio SGR), led by chairman Gianluca Dettori and founded in 2016, is a Milan-based VC managing approximately €530 million in assets across digital and space-focused funds. It launched the first Italian venture capital fund dedicated to space technologies — Primo Space Fund (target €80 million, first close €58 million) — in partnership with the Italian Space Agency (ASI) and Fondazione E. Amaldi, backing deep-space logistics, propulsion, and AI for spacecraft. Portfolio investments include D-Orbit (space logistics, Series C co-lead) and AIKO (AI for autonomous spacecraft operations). Beyond space, its digital fund invests in B2B SaaS, cybersecurity, and fintech at seed and early-growth stages.
Berlin, Germany · Venture Capital Project A Ventures is a Berlin-based early-stage operator VC founded in 2012 by Florian Heinemann, Uwe Horstmann, Christian Weiss, Ben Fischer, Anton Waitz, and Thies Sander. The firm closed its fifth and largest fund at €325 million in 2025, bringing total assets under management to approximately €1.2 billion. What sets Project A apart is its in-house platform of over 140 functional experts in engineering, business intelligence, marketing, sales, and recruiting who work directly inside portfolio companies alongside capital. Investments span seed through Series B across SaaS, fintech, logistics, and consumer technology, with a notable portfolio including Trade Republic, sennder, Catawiki, WorldRemit, KRY, and Voi.
Zagreb, Croatia · Venture Capital Prosperus Invest was founded in 2010 in Zagreb as a growth equity and private equity fund manager focused on expansion-stage SMEs across Croatia and the broader Adriatic region. Led by Joško Miliša and Partner Luka Orešković, the firm has grown assets under management approximately 4× to around €200 million. Its flagship Prosperus Growth fund (first close ~€50 million, backed by EIF and HBOR under the CROGIP program) commits at least 75% to Croatian SMEs in IT, hospitality, renewables, healthcare, and publishing, with notable investments including IntechOpen (scientific open-access publishing, Rijeka) and Neos (data analytics and cloud IT services).
Amsterdam, Netherlands · Venture Capital Prosus Ventures is the venture and growth investment arm of Prosus, the Amsterdam-listed international technology investor that was spun out of South African conglomerate Naspers in 2019 and today stands as one of the largest technology investors in the world, anchored by a historically ~25 percent stake in Tencent that funds the rest of the portfolio. Beyond Tencent, Prosus Ventures and its strategy teams actively invest in growth-stage technology companies across food delivery, fintech, edtech, classifieds, and AI, owning stakes in Delivery Hero, iFood, Swiggy, Stack Overflow, PayU, Udemy, and Brainly among others. With many billions of euros of investable firepower and an explicit willingness to lead USD 100M+ rounds, Prosus is effectively one of Europe's only indigenous late-stage growth investors that can compete at scale with US crossover funds on late rounds of European technology companies.
Warsaw, Poland · Venture Capital Early-stage angel fund led by Bartek Pucek, focused on globally scalable technology startups. The fund is known for founder-friendly terms, fast decision cycles, and co-investments with international VC firms.
Istanbul, Turkey · Venture Capital Re-Pie is Turkey's first and largest alternative portfolio management company, established in 2015 under a Capital Markets Board licence and managing assets worth over 73.5 billion TL across 41 venture capital, 36 real estate, and 13 securities investment funds. Its venture capital arm backs Seed to Series A technology companies with cheques of $1M–$10M, with a notable portfolio including Getir, Hepsiburada, ikas, Modanisa, Colendi, and Ace Games. Re-Pie combines financial structuring expertise from its broader asset management platform with active strategic and operational support for portfolio companies. The firm is headquartered in Istanbul and is regulated by Turkey's CMB.
Zurich, Switzerland · Venture Capital Redalpine is a Zurich-based multi-stage venture capital firm founded in 2006 by Michael Sidler and Peter Niederhauser, and has grown into one of the most active Swiss VCs by number of early-stage checks across the DACH and wider European technology landscape. The firm invests from seed through Series B across digital health, fintech, deep tech, climate tech, and software, and is best known as an early backer of N26, Taxfix, Inkitt, 9fin, and Proxima Fusion. Redalpine closed its sixth fund at EUR 300+ million in 2023 and has built one of the larger Swiss-based venture teams, typically writing checks between EUR 1-15 million into companies it then follows through multiple rounds. It is a reference fund for Swiss and DACH founders looking for a locally anchored lead investor with international reach.
Istanbul, Turkey · Venture Capital Revo Capital is Turkey's largest technology-focused venture capital firm, founded in 2013 by Cenk Bayrakdar and Berkin Toktaş, having raised over $250M across three funds. Fund II closed at a landmark €90M in 2021 — oversubscribed with backing from IFC, EBRD, EIF, DEG, and the Turkish Development and Investment Bank — and Fund III reached an $86M first close in 2024 targeting over $100M. The firm has invested in 48 startups across Turkey, Eastern Europe, and the Baltics, achieving 18 exits and producing unicorns Getir and Builder.ai; portfolio companies have attracted $3.5B in follow-on capital between 2021 and 2025. Revo concentrates on early-stage B2B and B2C ventures in fintech, SaaS, cybersecurity, health tech, AI, and gaming.
Prague, Czech Republic · Venture Capital Rockaway Capital is a Prague-based investment group founded in 2013 by Jakub Havrlant, focusing on e-commerce, e-travel, media, fintech, and blockchain ventures across DACH, CEE, and the Balkans. The group's portfolio companies have generated aggregated revenues exceeding €2.5 billion and employ more than 5,000 people in 17 European countries. A notable exit was the sale of its stake in Mall Group, a leading CEE e-commerce platform, to Allegro for $1.13 billion.
Kyiv, Ukraine · Venture Capital Roosh Ventures is an entrepreneur-led Ukrainian VC fund founded in 2020 by Den Dmytrenko (co-founder of Reface and the AI HOUSE community) and Serhiy Tokarev, an AI entrepreneur and investor with 20+ years of experience. Operating with $40M AUM and 40+ portfolio companies, the fund takes a co-investment approach and focuses on pre-seed through Series A deals in enterprise SaaS, fintech, gaming, and AI across EU and US markets. Notable portfolio companies include Deel ($12B valuation), Oura, and Pipe; the fund's most recent disclosed investment was in Tower in March 2026. Despite the ongoing war, Roosh maintains its Kyiv headquarters and Ukrainian identity.
Madrid, Spain · Venture Capital Samaipata is a Madrid-based seed-stage venture capital fund founded in 2016 by José del Barrio (founder of La Nevera Roja) and Eduardo Díez-Hochleitner, investing in marketplace and platform business models with network effects across Europe, with particular focus on Southern Europe, France, and the UK. The fund deploys tickets of €500,000 to €3 million at pre-seed and seed, and has backed over 40 companies whose follow-on rounds from tier-1 funds including Index, Atomico, and Kleiner Perkins have exceeded €250 million in aggregate.
Luxembourg City, Luxembourg · Venture Capital Satgana is a Luxembourg-based climate and earth tech venture capital firm founded in 2020, investing at pre-seed and seed stages in European and African startups addressing the climate and ecological crisis. With a €30 million fund, Satgana backs founders across food and agriculture, energy, mobility, industry, carbon removal, and the circular economy with ticket sizes of €100k–€500k. As a strategic partner of Catapult Green Fintech, Satgana contributes its climate investment expertise to the program's green finance and sustainability track.
Madrid, Spain · Venture Capital Founded in 2013 by Beatriz Gonzalez and Michael Kleindl, Seaya Ventures is a Madrid-based growth-stage VC managing over EUR 400M across funds focused on consumer internet, mobility, and sustainability in Spain and Southern Europe. The firm invests EUR 3-15M at Series A through growth and has backed companies including Cabify (ride-hailing), Wallbox (EV charging, Nasdaq IPO), and Glovo (acquired by Delivery Hero). In 2022 Seaya launched a dedicated Andromeda fund for climate and sustainability tech.
Copenhagen, Denmark · Venture Capital SEED Capital is Denmark's largest early stage venture fund and a first check investor for many of the country's most successful startups. The firm invests at seed and Series A and supports founders with hands on company building and follow on fundraising. SEED has backed Danish scale ups across SaaS, fintech, and consumer tech, with notable wins including Trustpilot, Vivino, Templafy, and Lunar. It is a key pillar of the Danish venture landscape.
London, United Kingdom · Venture Capital Seedcamp is a London-based pre-seed and seed fund founded in 2007, often described as Europe's seed fund, that backs founders building globally ambitious technology companies. Its portfolio includes some of Europe's best-known startups, such as Wise, Revolut and UiPath, and it provides founders with capital and access to an extensive expert network.
London, United Kingdom · Venture Capital Sequoia Capital is a global venture firm that led ElevenLabs' $500M Series D round announced in February 2026 at an $11B valuation, with partner Andrew Reed joining the board. Sequoia also backs Bolt as it scaled its multi-vertical mobility platform across Europe.
Ljubljana, Slovenia · Venture Capital Silicon Gardens is the Adria region's first founders-for-founders venture capital firm, founded in 2019 and headquartered in Ljubljana. It backs exceptional early-stage tech startups from the Adria region (ex-Yugoslavia and diaspora) and broader CEE, investing as one of the first institutional checks at pre-seed and seed. Fund III, a €33M+ vehicle launched in June 2023, focuses on B2B SaaS, marketplaces, consumer apps and games, and innovative D2C products. The fund's 100+ LP base includes founders who built Outfit7, Sportradar, Bitstamp, Celtra, Photomath, and Zemanta.
Paris, France · Venture Capital Singular is a Paris-based venture capital firm focused on deep tech and frontier technology investments across Europe. Founded in 2014, the firm invests from seed through growth stages in companies building breakthrough technologies in AI, quantum computing, space, robotics, and advanced materials. Singular manages several hundred million euros and has backed notable European deep tech companies. The firm differentiates itself through deep technical expertise and a network of scientific advisors that help evaluate highly technical investments.
Amsterdam, Netherlands · Venture Capital Slingshot Ventures is an Amsterdam-based venture capital firm founded in 2014, focused on late seed and Series A investments in consumer digital brands, e-commerce, and direct-to-consumer startups. The firm invests EUR 500K-3M and works closely with founders on brand building, growth marketing, and customer acquisition strategies. Slingshot's portfolio spans emerging consumer platforms across the Benelux and broader European market, with the team bringing operational experience from scaling digital-first brands and marketplaces.
Yerevan, Armenia · Venture Capital SmartGateVC is a pre-seed and seed deep-tech venture fund co-headquartered in Yerevan and Glendale, California, founded in 2018. It focuses on AI applied to healthcare, biotech, security, and IoT, and manages a portfolio of over 40 companies. The fund is backed by Tim Draper and One Way Ventures, and the majority of its portfolio companies leverage Armenia for R&D operations.
Kyiv, Ukraine · Venture Capital SMRK VC is a Kyiv-based seed-stage fund founded in 2013 by Oleksandr Kosovan and Andriy Dovzhenko, with a $10M initial fund focused on IT products at seed and Series A. The fund has backed 23+ companies, with a portfolio spanning Ukraine, the US, and Europe across enterprise software, B2B SaaS, and consumer tech. Notable investments include Allset, Preply, Competera, and Ajax Systems; the fund made its most recent disclosed investment in OpenBabylon, a Ukrainian AI translation startup, in February 2026. SMRK has continued dealmaking through the wartime period and remains one of the longer-standing native Ukrainian VC funds still actively investing.
Brussels, Belgium · Venture Capital Sofina is a Brussels-based investment holding company listed on Euronext Brussels that invests in growth-stage technology companies, consumer brands, and education platforms worldwide. With a heritage dating back to 1898, Sofina manages over $10 billion in assets and has backed major European and global companies including ByteDance, Delivery Hero, and Flixbus. The firm focuses on long-term holdings and typically invests from Series B through pre-IPO, bringing patient capital and a multi-generational investment perspective.
Stockholm, Sweden · Venture Capital Sound Bioventures is a Nordic life science venture capital firm investing in early-stage biotechnology, pharmaceutical, and medical technology companies in Scandinavia and the Baltic region. The firm focuses on science-driven innovation in therapeutics and diagnostics and is an active sponsor of the Nordic life science community. It served as Investor Dinner Sponsor at Nordic Life Science Days 2026.
Tallinn, Estonia · Venture Capital Formerly United Angels VC, Specialist VC was founded in 2017 by Riivo Anton and Gerri Kodres and rebranded in 2022 upon closing its €50M Fund II — the first Baltic VC fund to integrate secondary transactions alongside primary venture investing. The firm focuses on B2B, SaaS, fintech, and marketplace startups in the Baltic region and beyond, writing initial cheques from €200K to €1M at seed through Series A. Its Fund I portfolio includes two unicorns, Bolt and Veriff, alongside Starship Technologies and Monese, making it one of the highest-performing early-stage funds to emerge from Estonia.
Ljubljana, Slovenia · Venture Capital Suricate Ventures is a Ljubljana-based venture capital firm founded in 2021 by a group of nine partners with backgrounds spanning finance, insurance, law, IT, private equity, energy, and mobility. The fund targets pre-seed to early-growth technology companies in Southeastern Europe, with a smart-money philosophy and minimum ticket sizes from €50,000. Core investment verticals are fintech and insurtech, gaming and metaverse, digital health, and logistics and supply chain. Notable portfolio companies include ZenOwn, Noii, Bloq.it, and VIAR.
Bern, Switzerland · Venture Capital Swisscom Ventures is the strategic corporate venture arm of Swisscom, Switzerland's largest telecom and ICT operator, and is one of the most active corporate venture investors in the Swiss ecosystem. Founded in 2007 and operating with offices in Bern, Zurich, and Silicon Valley, the firm invests in early- and growth-stage technology companies across cybersecurity, digital health, cloud infrastructure, AI, and network-adjacent deep tech, with particular interest in startups that can leverage Swisscom's distribution, data, or network assets. Portfolio companies have included Cato Networks, Mirakl, Scandit, Digital Asset, and Exeger. Swisscom Ventures pairs well with the traditional Swiss financial-VC bench by providing strategic commercial partnerships, regulatory navigation, and European telecom channel access alongside capital, which is particularly valuable for founders in regulated infrastructure categories.
Warsaw, Poland · Venture Capital Tangent Line is a Warsaw-based venture capital firm that provides capital and hands-on business partnership to breakthrough industrial and deep-technology startups. Acting as a contact point between founders and investors, it backs companies with global ambitions and defensible technology from seed through expansion over a long-term horizon.
Berlin, Germany · Venture Capital Target Global is a Berlin-headquartered international venture capital firm founded in 2012 by Alexander Frolov, Mikhail Lobanov, Shmuel Chafets, and Yaron Valler, investing across all stages from seed to late stage in European and Israeli technology companies. With over USD 3 billion in assets under management across early-stage, growth, and fintech-focused funds, Target Global has become one of the most active cross-border European venture investors, running parallel investment themes across fintech, mobility, logistics, travel, PropTech, and enterprise software. The firm has backed category-defining businesses including Auto1 Group, Delivery Hero, Revolut, Rapyd, TravelPerk, WeFox, and Omnipresent, and operates offices in Berlin, London, Tel Aviv, and Barcelona. Target Global is a useful reference point for founders looking for a European-headquartered fund that can write initial checks at seed and follow them all the way into late-stage growth rounds from a single partnership.
Tallinn, Estonia · Venture Capital Founded in 2016 by Andrus Oks and partners, Tera Ventures is a Tallinn-based early-stage VC that invests in born-global digital startups across Estonia and the broader Nordic-CEE corridor including Denmark, Sweden, Finland, Latvia, Lithuania, Poland, and Czech Republic. The firm invests €200K–€1.5M from its €45M Fund II with substantial reserves for follow-on. Tera has been backing AI-powered innovations for over 15 years, spanning Enterprise SaaS and Robotics/DeepTech, and maintains offices in Tallinn, Helsinki, and Los Angeles. The fund has made 65+ investments across its lifetime, with a portfolio spanning fintech, network security, and AI.
Madrid, Spain · Venture Capital The Venture City is a hybrid accelerator and venture capital firm founded in 2017 by Laura Gonzalez-Estafani (ex-Facebook) with offices in Madrid, Miami, and San Francisco. The firm invests from seed to Series A in product-led startups across Europe and the Americas, with typical tickets of $500K-2M. The Venture City differentiates through its in-house growth team offering data analytics, product optimization, and go-to-market support. Portfolio companies include Cabify, Lingokids, and Internxt. The firm manages over $150M and focuses on fintech, SaaS, and mobile-first businesses.
Tallinn, Estonia · Venture Capital Founded in 2018 by Joel Aasmäe, Kimmo Irpola, Taavi Lepmets, and Ivar Siimar — veterans behind LHV Bank and New Economy Ventures, the Baltics' first VC fund — Trind Ventures focuses exclusively on consumer and consumerised B2B software startups across Europe. Its €55M Fund II, closed in 2022, targets 30–40 companies with initial tickets up to €1M and follow-ons to €5M, covering pre-seed and seed stages. The firm has offices in Tallinn, Helsinki, Munich, and Riga and has backed 75+ companies including Ready Player Me, Neural DSP, Tise, Rangeforce, and Fractory, distinguishing itself in the Baltic ecosystem through its pure-play consumer and creator-economy angle.
Belgrade, Serbia · Venture Capital TS Ventures is the first corporate venture capital fund established in the Western Balkans, launched in 2021 by Telekom Srbija with a €25 million mandate to invest in high-tech startups across pre-seed through growth stages. Headquartered in Belgrade at Milutina Milankovića 3v, the fund backs companies in AI, biotechnology, and digital platforms, with a particular interest in transformative technologies that can scale regionally and globally. The fund has deployed approximately €2.4 million across 15+ startups, with an average ticket size of €133,000. Notable investments include AI-driven professional networking platform Connect The Dots and biotech firm LampoVet.
Bucharest, Romania · Venture Capital Underline Ventures is a Romanian venture capital firm launched in 2020 by Bogdan Iordache, focused on pre-seed and seed investments in technology startups across Central and Eastern Europe. The firm invests EUR 100K-500K in software, SaaS, and digital platforms, targeting founders building from Romania, Bulgaria, Moldova, and the broader CEE region. Underline differentiates through deep local ecosystem knowledge and strong ties to the Romanian tech community, including How to Web, the region's leading tech conference. The firm aims to be the first institutional check for ambitious CEE founders with global ambitions.
Athens, Greece · Venture Capital Uni.Fund was founded in 2018 in Athens by Katerina Pramatari (Professor at Athens University of Economics and Business), Panos Lioulias, Sotiris Papantonopoulos, and Stelios Eliakis, with backing from the EquiFund programme. Fund I deployed €30M into 23 pre-seed and seed companies commercialising research from universities and research institutions across Greece and Europe. Uni.Fund II launched in 2023 with a €50M target, extending the same thesis to spin-offs and deep-tech startups at pre-seed through early Series A. Focus sectors include IoT, fintech, healthcare, robotics, and SaaS.
Milan, Italy · Venture Capital Founded in 2013 by Massimiliano Magrini (former Google Italy MD) and Paolo Gesess, United Ventures is one of Italy's leading independent technology-focused VC firms, with cumulative AUM approaching €500 million across three funds including a €150 million early-stage Fund III (launched 2023) and a dedicated growth vehicle, UV T-Growth. The firm targets software, fintech, cybersecurity, cloud, IoT, and marketplace companies predominantly at Series A, co-investing across Italy and Europe. Its portfolio of 51 companies has generated 10 acquisitions and 2 IPOs; landmark investments include Musixmatch (10x+ return on exit to TPG), Everli (Series C lead, €22 million), and Cleafy (Series B, 2026).
London, United Kingdom · Venture Capital Valar Ventures is a New York and London-based venture capital firm co-founded by Peter Thiel, Andrew McCormack, and James Fitzgerald in 2010. The firm focuses on fintech, software, and data-driven businesses, investing from Series A through growth stage with typical checks of $5-50M. Valar has been one of the most active US funds in European fintech, with notable investments including N26, TransferWise (Wise), Bitpanda, and Xero. The firm manages over $1B and leverages Peter Thiel’s global network to help portfolio companies scale internationally.
Warsaw, Poland · Venture Capital A €18M debut seed-stage venture fund launched in 2025 and backed by the Polish Development Fund, focused on B2B software, AI and techbio. Co-founded by Aleksandra Pedraszewska (an early ElevenLabs employee), Karolina Kukielka and Zuzanna Brzosko, it invests €500K–€750K in Polish founders building globally.
Athens, Greece · Venture Capital Velocity.Partners was founded in 2017 in Athens, growing out of the Found.ation startup ecosystem, and is supported by the EquiFund programme and the EU Operational Programme "Competitiveness, Entrepreneurship & Innovation". The fund is sector-agnostic but has particular depth in Maritime-tech, MedTech, FinTech, and Travel-tech — verticals where Greek founders hold a structural edge. It invests at pre-seed and seed stage with initial tickets typically up to €500K, then follows on into later rounds. The team combines operators, founders, and investors with hands-on industry experience.
Bratislava, Slovakia · Venture Capital Venture to Future Fund (VFF) is a state-backed venture capital fund established in 2019 through a joint initiative of the European Investment Bank, the Slovak Ministry of Finance, and Slovak Investment Holding. It launched investments in June 2020 with an initial €40.4 million mandate, subsequently expanded by €15.3 million from the Slovak Recovery and Resilience Plan in 2024, extending its investment period through 2026. VFF focuses exclusively on Slovak innovative SMEs and EU companies with capital ties to Slovakia, deploying €400,000–€7 million per company. Since inception it has backed 16 companies including Photoneo, Sensoneo, Fuergy, and Powerful Medical.
Athens, Greece · Venture Capital VentureFriends was founded in 2016 by serial entrepreneurs Apostolos Apostolakis and George Dimopoulos in Athens to back early-stage scalable startups across Europe and MENA. The firm has raised three funds — VF1 (€20M, 2016), VF2 (€50M, 2018), and VF3 (€100M, 2021) — totalling €170M in AUM. It focuses on pre-seed through Series A investments of €330K–€2.8M in FinTech, PropTech, Marketplaces, TravelTech, and SaaS. With 83 portfolio companies, the firm has produced 2 unicorns, 1 IPO, and 10 acquisitions, with Blueground among its flagship investments.
Stockholm, Sweden · Venture Capital Verdane is a Nordic growth equity firm with offices in Oslo, Stockholm, Helsinki, Berlin, and London that specializes in technology-enabled, sustainable growth companies. The firm invests at growth and late stage, typically in companies with $5-100 million in revenue, and manages over $6 billion in committed capital. Verdane focuses on digital consumer, software, and sustainable businesses, and is one of the largest dedicated growth investors in Northern Europe.
Oslo, Norway · Venture Capital Verdane's Oslo office is the firm's original headquarters, anchoring its Nordic growth equity practice. From Oslo, Verdane sources and supports portfolio companies across Norway's technology and sustainability ecosystem, covering digital transformation, e-commerce infrastructure, and energy transition. The firm's Norwegian roots give it deep access to the region's founder network and LP base.
Sofia, Bulgaria · Venture Capital Founded in 2020 and based in Sofia, Vitosha Venture Partners is a €26M micro-VC co-financed by the European Structural and Investment Funds via the Bulgarian Fund of Funds. Led by a six-partner team including Erik Anderson, Max Gurvits, and Marin Iliev, the fund targets Bulgarian and Bulgaria-related early-stage tech startups with tickets ranging from €25K to €1M across seed and pre-seed rounds. The fund has invested in over 100 companies across enterprise applications, fintech, consumer tech, and vertical SaaS, with recent deals including Krik.bg (media-tech) and AIoTcloud. A second fund expanding to the wider SEE region was publicly signalled in 2024.
Helsinki, Finland · Venture Capital Voima Ventures was founded in 2019 in Helsinki by Inka Mero, a serial entrepreneur and investor, and specialises exclusively in science-based deep tech spin-outs from universities and research institutions across the Nordics and Baltics. The firm raised its third fund of €90 million in 2023, bringing total assets above €100 million, and invests €200,000–€3 million at the earliest stages in biotech, quantum, AI, energy, climate, and life sciences. Over 70% of its 51 portfolio companies originate directly from academic labs, including Solar Foods. Voima is one of the few female-founded and female-led VC funds in the Nordics.
Warsaw, Poland · Venture Capital Warsaw Equity Group (WEG) is a Warsaw-based investment group that backs growth-stage technology companies in Central and Eastern Europe, with a focus on B2B software, logistics and industrial technology. It invests as an active, long-term partner supporting portfolio companies' regional and international expansion.
Zurich, Switzerland · Venture Capital Wingman Ventures was a Zurich-based pre-seed venture capital firm founded in 2019, known for closing what was described as Europe's largest debut seed fund at that stage. The firm backed founders across B2B software, industrial tech, robotics, and climate tech, with notable exits including Insightness (acquired by Sony) and Bring! Labs (acquired by Swiss Post). In February 2024 the firm rebranded as Founderful and launched a Fund II targeting $120 million, with typical check sizes of $1–2 million.
Paris, France · Venture Capital XAnge is a French-German early-stage venture capital firm founded in 2003, with offices in Paris, Berlin, and Munich. Part of the Siparex Group, XAnge manages over EUR 600M and invests EUR 1-10M at seed and Series A in deep tech, impact, and digital transformation. The firm is particularly active along the Franco-German corridor and has backed companies including Lydia, Akeneo, Talend, and Studitemps. XAnge differentiates with a strong focus on sustainability and B2B software, and its bi-national positioning helps portfolio companies expand between France and the DACH region.
Riga, Latvia · Venture Capital ZGI Capital is one of the most experienced venture capital firms in the Baltics, founded in 2005 in Riga. It has operated four successive fund generations (ZGI-1 through ZGI-4), with ZGI-4 attracting the largest single private VC investment in Latvia at €10M. The firm targets seed and Series A rounds of €500k–€5M in Latvian and Baltic companies across SaaS, fintech, food-agtech, logistics, and industrial sectors. ZGI Capital has won Latvia's VC & PE sector award six times, including in 2024 and 2025.