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vc funds investing in eu by vestbee
28 July 2022·17 min read

Valerie Stupnikova

Vestbee

New VC Funds Investing in Europe - 2Q 2022

This time we introduce you to our quarterly overview of new VCs investing in startups across Europe. We have already highlighted a 1Q overview, so now, let's dive into the 2Q of 2022. 

To discover more VC funds, check out our VC list - a complex database of the best early-stage venture capital funds investing in innovative startups across different verticals. Read More.

VC Funds from CEE

  • Superangel, an Estonian venture capital firm, announced its new €50M fund, planning to invest in deep tech startups in the Baltics and Nordics. Additionally, it introduces tokens to reward those contributing to the success of the portfolio startups. Today, Superangel is known for investing in numerous billion-dollar startups, like the mobility app Bolt or identity verification startup Veriff.
  • Polish AIP Seed launched a €25M fund to support CEE startups, offering mentorship from co-investors and experts. The fund plans to invest in 30 early-stage companies annually, with an average ticket size of €250K. AIP Seed has invested in more than 100 startups like CallPage, Foodsi and Plenti.
  • Prague-based VC Presto Ventures raised its second, €30M fund. The firm aims to invest in seed and pre-seed B2B startups from the CEE region, including the Balkans and Baltics. Up to now, Presto Ventures has invested in over 20 companies, like CloudTalk, Yieldigo, and IP Fabric.
  • The Bulgarian Blackpeak Capital, raised a  €126M Southeast Europe Growth Equity Fund. The fund invests €5M to €15M in SMEs from  IT, healthcare, niche manufacturing, consumer, and business services across Bulgaria, Croatia, Romania, Serbia, and Slovenia.
  • UiPath, a Romanian RPA leader based in New York, launched its first fund - UiPath Ventures. The fund is aimed at disruptive, high-growth enterprise software companies, especially in the enterprise automation field.  In addition to providing capital, UiPath Ventures offers operational guidance and go-to-market support.
  • Ukrainian VC Vesna Capital launched by the cofounders of the largest delivery service in Ukraine, Nova Poshta,will invests from $500K to $1M in seed and Series A rounds.
  • Hi5 Ventures is a Kyiv-based fund launched by the ex-CEO of Adventures Lab, Andrew Krivorchuk, and AngelSyndicate founder Leon Podobedov. With a size of $15M, the fund invests in early-stage tech companies from Eastern Europe operating in the AI/ML, eSports, EduTech, Mobile, Security, AdTech, and SaaS sectors.
  • The Riga-based syndicate of angels BADideas.fund provides €50K - €100K funding for early-stage CEE startups. The first company the firm has invested in is the Lithuanian SaaS-enabled marketplace Breezit. BADideas.fund includes 21 members who built companies like Vimeo, Shopify, Bolt, Lokalise, and more.

VC Funds from Europe

  • The well-recognized German VC, Earlybird, closed its sevent early-stage fund of €350M, making it one of the largest early-stage VC funds in Europe. Fund is going to support companies across enterprise software, fintech and sustainability, with a special aim on deep tech startups.
  • Berlin-based Project A Ventures closed a $375M fund to support early-stage European tech startups. The company focuses on B2B and B2C, undertaking fintech, enterprise software, commerce, supply chain, climate technology, and data infrastructure. In addition, project A Ventures plans to co-invest up to $80M in private equity deals.
  • The French VC Breega closes a €250M fund to support European startups. The company invests in fintech and insurtech companies in the A Series stage and beyond. Among its investors are EIF, Isomer Capital, Bpifrance, and more.
  • Vienna-based venture capital firm 3VC closed its second fund to invest in Series A stage startups in the CEE and DACH regions. The company has an average ticket size of $5M, and 40% of the fund is allocated to follow-on investments. 3VC focuses on B2B and B2C software companies and Web3 infrastructure.
  • Cocoa Ventures launched its first $17M fund to support European start-ups from various sectors. The firm considers itself an angel investor and is ready to invest $200K-$500K checks in pre-seed and seed stages companies.
  • French VC Alven raised €350M fund to support pre-seed to Series A companies in Europe. The firm will be investing tickets from €100K to €15M in European startups or European founders in the US.. Among the fund's sector’s of interest are enterprise software, fintech, social, marketplace, and entertainment.
  • The Spanish Mundi Ventures launched its second, €250M insurtech fund to invest in European companies in Series A and Series B. Additionally to the insurance sector, the firm finances healthtech, fintech, and deeptech startups. For now, Mundi Ventures has six unicorns, including Klarna, Wefox, and Shift Technology.
  • London-based Zinc raised a €32.9 fund to help startups dealing with pressing social problems, like mental health, globalization, environmental protection, and life improvement. The firm invested in more than 200 diverse companies, like a menopause support app Vira Health, homecare jobs platform Bellevie, eating disorder support Beanbag Health, and more.
  • Amsterdam-based Acrobator Ventures closed a new €30M early-stage fund. The team supports seed and pre-seed startups from CEE, CIS, and Baltic regions, focusing on B2B/B2C data-driven companies with a ticket size of €0.2M - €1.5M.
  • Zurich-based Emerald Technology Ventures is rolling out the new €250M European Transformation Fund aimed at European energy, water, industrial technology, food, agriculture, robotics, advanced materials and packaging companies. The targeted investment ticket is expected to be €10M - €15M.
  • The German Bosch VC launched its fifth €250M fund to support series A and B startups operating in deep and climate tech industries. Bosch VC invests up to €25M per startup with the potential to improve the quality of life and environment protection.
  • The French crypto-security platform Ledger and a global VC firm Cathay Innovation launched a $110M venture fund focused on Web3, Ledger Cathay Capital. The fund invests in seed to Series A startups that cover emerging DeFi, digital ownership technologies, security, and more.
  • Climate VC plans to invest €41M in zero-net startups focusing on climate change and carbon emissions and support them with the extensive network of industry experts, including environmental and climate change advisors to the Ministry of Defence and Greenpeace board director.
  • Fasanara Capital raised a $350M fund to support European early-stage crypto and fintech startups. The UK hedge fund  aims to finance sustainable and scalable technology companies.
  • Kiko Ventures, launched by the IP Group, raised $450M to invest in global seed, Series A and B startups as well as public capital markets. Kiko Ventures supports climate tech companies, like fuel technology firm Ceres Power, or the world's first fusion result First Light Fusion.
  • British Felix Capital closed its fourth fund worth $600M. The VC firm supports European and North American commerce-driven startups, focusing on future of work, fintech/blockchain, B2B tools, and sustainable development innovations.
  • Base10 closes its third $460M fund to invest in global startups focusing on automation of the "real economy" - retail, logistics, food, and fintech. The fund mainly focuses on earlier-stage investments; however, it raised $300M for a growth fund earlier. Base10 has financed startups such as Notion, FTX, Handshake, and more.
  • Lisbon-based Faber made the first close of its climate-oriented fund at €32M. The fund aims to boost climate action innovation and ocean sustainability, specializing in early-stage deep tech startups. In addition, Faber plans to finance companies focusing on blue biotechnology, ocean health, and ocean intelligence to meet the UN Sustainable Development Goals.
  • The Spanish All Iron Ventures closed a €30M fund of funds with a goal to support European VCs across all stages. It is the VC's first fund of funds, backed by 80 investors, and the goal is back B2B and B2C companies in the ICT sector.
  • 10x Founders launches a new €160M fund to support European companies on pre-seed to Series A stages. In addition to investing, 10x offers industry expertise services from 48 business angels. The firm aims to create a community of operators, investors, and entrepreneurs to help startups become more confident in the business scene.
  • Creator Ventures is the first European creator-backed and creator-founded VC. It raised $20M, planning to invest $100K-500K in seed and Series A startups worldwide, focusing on consumer social, marketplaces, ecommerce, and creator economy fields. The firm has invested in more than ten startups already, and, additionally, it plans to co-invest with creators and celebrities.
  • In cooperation with the EIB, Germany's VC G + D Ventures fund established a €50M co-investment platform to support European cybersecurity startups. The collaboration aims to strengthen the trust in the digital society, including privacy protection technologies, secure authentication, payment systems, and more.
  • Helsinki-based Butterfly Ventures announced the first closing of €47M of €100M Butterfly Venture Fund IV.  The firm invests in science-based deep tech and hardware start-ups in Nordic and Baltic countries. For today, Butterfly Ventures has completed more than 200 investment rounds with an average ticket of €300K, and it plans the next closing in the spring of 2023.
  • The new £10M fund in London launched by Octopus Ventures is intended for European companies at an early stage of development. The company will focus on pre-seed startups in B2B, fintech and health software, assigning an average ticket of £100k for each occasion.
  • The British media Sky and a VC Founders Factory collaborate to raise a fund worth more than €116M to improve the climate tech industry. The new fund invests in early-stage startups that work on decarbonization, circular economy, resource preservation, and climate resilience.
  • Belgium-based Seeder Fund raised €30M to invest in digital startups within the country, providing about €1.5M of average ticket per startup. Seeder supports hospitality, mobility, and telecommunications companies, like dog food provider DogChef, or a digital platform facilitating talent management and recruitment processes ProUnity.
  • The UK-based Plural launched a €250M investment fund to help the next generation of aspiring European tech entrepreneurs. The fund backs early-stage startups with investments between €1M - €10M.
  • Fabric Ventures closed a $140M fund to back innovative web3 startups. The fund invests from $100K to $10M, offering full lifecycle support on talent, tokenomics, and governance to web3 entrepreneurs. Earlier, Fabric Ventures invested in such startups as Ethereum wallet for NFTs and DeFi Argent, NFT-minting and trading platform Immutable, and proof-of-stake blockchain NEAR.
  • UK-based JamJar announces its second £100M fund to invest from £500K to £3M in consumer brands across the UK and Europe. The company focuses on start-ups from seed to series A and fast-growing companies at later stages. For now, JamJar has made more than 85 investments and 11 exits.
  • Dastore VC emerged from the collaboration of a French-retail company Carrefour Group and the European VC fund Daphni. The new VC fund's initial investment, €80M, is to support high-potential, early-stage startups in France and globally that operate within the digital retail sector. Dastor VC is part of Carrefour's plan to transform into a Digital Retail Company.
  • German VC Cipio Partners launched its latest fund with €202M. The firm initially invests €5M - €15 in European startups specializing in B2B SaaS, marketplaces, and deeptech.
  • The Spanish VC firm Seaya Ventures launched a sustainability-focused €300M fund to invest in tech-driven startups in southern Europe. Andromeda, the so-called fund, backs startups working in agritech, food value chains, circular economy, and green tech, which covers green energy production and distribution. The fund invests in Series A with a ticket size of €10M - €15M.
  • Northern Gritstone, a university spinout investment firm, closed a £215M fund to back early-stage startups operating in health technology, AI, and cognitive computation. The firm focuses on university spinouts in the North of England, and it has two pension funds, Greater Manchester and West Yorkshire, and other investors backing it.
  • London-based VC Synthesis Capital raised $300M for its new fund focused on food tech and alternative proteins. The company average ticket is $15M and plans to finance about 15 startups.
  • Climentum Capital announced its first close of $157M to increase the green transition in Europe. The fund focuses on the EU's "Article 9 fund", which main idea is to support sustainable investments and reduce carbon emissions. Climentum invests in late-seed stage and Series A European startups, supporting food, transportation, waste, and architecture.
  • British Crane Venture Partners raised $140M for its second early-stage fund. The company aims to invest in the software and deep tech industries, working in AI, data and developer tools, and open-source sectors in Europe, Israel, and the USA. Crane backed 20 companies, including open-source notification infrastructure for developers Novu, a data-centric computer vision platform Encord, and a low-code API developer Nuclia.

Global VC Funds

  • LocalGlobe, along with Latitude, Solar, and Basecamp, rebranded into Phoenix Court Group. The new VC closed a $500M fund, focusing on pre-seed and seed stage companies in the so-called New Palo Alto area, including tech cities like Oxford, Cambridge, and London and several other towns - Bristol, Manchester, and Newcastle. The four funds operate under the Phoenix Court group, each helping startups at different stages.
  • Andreessen Horowitz, one of the most recognizable VC firms, has launched a next fund - so called Crypto Fund 4. $4.5Bn will be invested in seed-stage blockchain and crypto startups and VCs. The fund has now invested in an ecosystem fund Flow, a cross-chain connector company LayerZero Labs, and more. For now, Andreessen Horowitz made its first significant crypto investment with Coinbase, and it backed such prominent companies as Pinterest, Lyft, and Slack.
  • Binance, the largest crypto exchange, raises a $500M venture capital fund, Binance Labs, to bolster startups at all stages, building Web3, blockchain, and value-building technologies. Since 2018, the fund has invested in more than 100 projects worldwide, like 1inch, Dune Analytics, Polygon, and more.
  • Web3 games company Immutable launched a $500M fund to support web3 games and NFT-oriented companies on its platform, Immutable X. The Australian venture fund collaborates with gaming and crypto investors, such as Airtree, GameStop, Animoca, and more. Also, apart from investing, Immutable provides grants - IMX tokens and cash - to projects built on Immutable X.
  • NATO launched its Innovation Fund investing €1Bn to support early-stage startups and VC funds to develop dual-use emerging technologies. These technologies include AI, autonomy, biotechnology, energy, big-data processing, and more. A NATO Innovation Fund is part of the Alliance's Defence Innovation Accelerator for the North Atlantic, which brings together defense personnel with startups, tech companies, and scientific research to solve vital defense and security problems.
  • Amazon announced setting up a $1Bn Industrial Innovation Fund to support companies working in the supply chain, logistics, and customer fulfillment operations. The fund invests in startups focusing on increasing delivery speed and improving warehouse experience. Among the companies the Industrial Innovation Fund has financed are a platform making wearable safety technology Modjoul, an autonomous robotic solution developer BionicHive, and more.
  • Japanese insurance company Tokio Marine Holdings launched a $42M fund to invest in early-stage startups worldwide. Tokio Marine Future Fund addresses cybersecurity, health care, insurtech, fintech, AI/automation, climate risk, and mobility startups investing $500K - $3M each. Additionally, the fund partners with Silicon Valley and the World Innovation Lab, a Japanese VC.
  • Cultivate Next, a $50M fund from Chipotle, the US fast-food giant, supports tech startups contributing to the food and restaurant industry. The fund aims to boost companies in the seed and B series stages that improve guest and employee experiences. Additionally, Chipotle plans to open 7K restaurants in the long run.
  • Left Lane, headquartered in New York and London, announces the closure of a $1.4Bn growth capital fund to help high-retention internet and consumer tech startups globally. The firm aims to finance companies at the A Series and C Series stages, specializing in SMB Tech, eCommerce, fintech, Gaming, health and wellness, and more. In addition, left Lane invested in a video-based tutoring digital marketplace Go Student, mobile lottery app Jackpocket, and a financing platform for artwork Masterworks.
  • MassMutual Ventures launches a third fund worth $300M to support early-stage startups in Europe and Asia. The fund invests in enterprise SaaS, digital health, and cybersecurity companies at pre-Series A and Series B stages. In addition, MMV has two other funds focused on Asia, excluding China. For now, it has invested in 20 companies.
  • January Ventures introduces a second $21M fund to support female founders from diverse backgrounds. The fund invests from $250K to $750K into software companies functioning in various sectors, like the future of work, fintech, digital health, and more. January Ventures' investments mostly happen due to its vast network that involves more than 100 tech talents.
  • Dragonfly Capital closes its new $650M crypto fund, focusing on all stages of crypto and blockchain startups to create new economies. For now, the company has invested in about 60 companies, and aims to finance companies operating in the DAO, smart contracts, metaverse, and NFTs industries. Dragonfly Capital invested in DAI token creator MakerDAO, layer 1 blockchain platform Near Protocol, and more.
  • Singapore's Good Startup raised a $34M fund to invest in alternative protein companies that use biotechnology, leaving a minimal environmental footprint and solving the food crisis. In addition to financing, Good Startup helps with organization design, fundraising strategy, and intellectual property protection. The company aims to remove animals from the world's food supply.
  • California-based 1Sharpe Ventures launched its first $90M fund to support proptech startups. The company backs pre-seed to A-series startups in North and Latin America and Europe. The average size of their check ranges from $500k to $2M. 1Sharpe Ventures has invested in companies like the sale and home renovation service Freemodel, construction tech platform Cottage, and event venue platform Carats & Cake.
  • Ex-Paypal Ventures closed $158M for a new Infinity Venture, now Headline, an early-stage firm to invest in fintech startups globally. The new VC's average ticket size is worth $500K - $8M, and it supports pre-seed to Series A startups from the US, Latin America, Europe, and Asia. For now, Infinity Ventures financed a company helping others to get R&D tax credit Neo.tax and a spend management startup from Mexico Mendel.

Related Posts:

New VC Funds Investing In Europe - 1Q 2022 (by Ilya Mikhalchyk-Kananenka, Community Builder, Vestbee)

VC Transactions in CEE Report - 2021 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

VC Funding in CEE Report - 4Q 2021 (by Konrad Koncerewicz, Head Of VC & Startups, Vestbee)

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