The fresh fund was backed by Vi Partners’ current limited partners.

Vestbee spoke with founders who raised capital in 2025 across defence, deeptech, AI, and e-commerce infrastructure. While their businesses operate in very different markets, their experiences showed some common patterns: the growing importance of real-world validation, moving away from “clear lab results” and towards the actual needs of the market and the growing pull of defence and dual-use applications.

e2vc’s Fund III was supported by 50+ LPs, advisors, and 30+ former startup founders, including Akin Babayigit of Tripledot Studios, Evren Ucok of Trendyol, and Umur Cubukcu of Ubicloud.

The new fund has appointed Enrique Domínguez, founder of Spanish hotel operator Gaiarooms, which manages over 100 properties and 1,500 rooms, as Head of Investment Strategy.

Vestbee has compiled an extended list of venture capital funds launched in the fourth quarter of 2025. All of them invest in European founders.

Meet Apheros, Aproco, Fortyx Security, Northscope, Boldr, Floatech, ResQuant PQC, Ruby Care, Evermuse, and Eterny in the latest series of Startups of the month.

The fund is supported by a diverse group of institutional investors, corporates, family offices, and long-term partners.

The new funds are supported primarily by PFR Ventures through capital from the European Funds for a Modern Economy (FENG) programme, with additional backing from private investors.