London-based venture capital firm Connect Ventures has announced a $55 million first close for its fifth fund, targeting $80 million in total commitments to back technical founders at the pre-seed stage across Europe.
- Connect Ventures has been investing in European startups since 2012, typically writing checks of $500,000 to $5 million at the pre-seed and seed stages. With Fund V, the firm is sharpening its focus on companies where technology is fundamental to both the product and the problem being solved.
- The fund will target startups across AI, infrastructure, hardware, robotics, and biotech. Connect Ventures said it is particularly interested in founders with deep technical expertise and insights gained from building technology or working on complex problems.
- The firm has already backed companies under this thesis, including AI infrastructure startup ai-coustics, robotics company Mosaico, and techbio startup Molecular Glue Labs.
- With Fund V, Connect Ventures will maintain its GP-only investment team and high-conviction approach, with partners working directly with founders rather than through an associate layer. The firm has invested in more than 120 companies since its launch, including Aikido Security and TrueLayer.
- The firm will also continue its Built By Few summit, which brings together European founders and technology builders through events across the continent.
- The fund is anchored by British Business Bank, with participation from returning LPs Aldea Ventures, Sella Venture Partners, and Molten Ventures, alongside new investors, European family offices, and founders of Connect-backed companies.
