Here are all the new funds launched in July 2024 to invest in Europe

In the world of venture capital, announcing the launch of new funds is always an exciting development.

This July 2024, several prominent European venture capitalists launched new funds, aiming to invest in the next generation of innovative startups across various industries, from technology to healthcare, providing crucial support to companies in various stages.

The influx of new capital is expected to create opportunities for startups to scale their operations, develop groundbreaking products, and drive economic growth.

Here is the list of European VCs that have launched new funds this July.

Index Ventures

HQ: London

Index Ventures is a venture capital firm that helps entrepreneurs turn bold ideas into transformative international businesses. 

Since its inception, the firm claims to have partnered with exceptional entrepreneurs in Europe, the US, and Israel, who are using technology to reshape the world.

Earlier this month, the VC raised $2.3B (approximately €2.1) in new funds — $800M (approximately €740M)  to venture funds and $1.5B (approximately €1.38B)  to a growth fund.

So far, the VC has backed 108 startups that have achieved a $1B valuation, with 23 surpassing a $10B valuation, and 57 becoming publicly traded.

These companies have already generated 200,000 jobs and are projected to create an additional 20,000 jobs in the next 12 months.

It includes some of the successful tech companies, including Figma, Revolut, Roblox, Scale AI and Wiz. 

Zaka

HQ: Prague

ZAKA VC started as a family office investing purely private money in pre-seed and seed startups.

In its beginnings, the VC firm primarily focused on its domestic CEE market, but over time, it expanded its presence to the UK and US. 

The VC has invested in over 55 companies worldwide in its portfolio and has invested over €11M in the US.

In July, the VC firm launched its first regular VC fund at €15M to support early-stage startups in the US and EU. 

The venture capital fund aims to invest in pre-seed and seed-staged startups across Europe (predominantly Central Europe, Baltics, UK, DACH) and the US, acting as a co-investor with the ability to co-lead.

The main investment focus is on B2B software, the cross-sectional application of AI in B2B, and biotech and health tech. Notable investments: ExcepGen, Sensible Biotechnologies, Miros.ai, Supliful, Lime Therapeutics, and Webel. 

Kennet

HQ: London

A few days back, the UK VC Kennet raised €266M for its largest fund to date, Kennet VI. The UK VC has already begun investing this capital in B2B SaaS companies across Europe, including Screendragon in Ireland and the UK and Fluid Topics in France.

Kennet VI builds on the success of the previous funds, with over 25 years of experience and a proven track record. Despite the challenging environment, the firm raised its largest fund and achieved successful exits, such as Eloomi in January 2024, generating a 3.1x cash multiple.

This follows numerous successful exits in recent years, including Nuxeo (5x), Dext (3.8x), CrossBorder Solutions (6.4x), Rimilia (2.5x), and Impartner (2.6x).

Kennet focuses exclusively on investing in established, high-growth B2B SaaS technology companies that are founder-owned and either highly capital efficient or fully ‘bootstrapped’ – built without external capital.

Lead Ventures

HQ: Budapest

Hiring status: Yes| Apply here

Lead Ventures is a venture capital firm in Central and Eastern Europe, a specialist in growth investments. The VC’s mission is to support the most promising scale-ups of the region with capital, expertise, and a wide-ranging professional network.

A few days ago, a Hungarian VC announced a new €100M fund to invest in late Seed and Series A companies with validated products/services that need capital for growth.

The VC typically invests over €2M by aiming at companies that have received seed funding and are now in the capital-intensive growth phase.

13Books Capital

HQ: London

13books Capital (formerly Element Ventures) partners with Europe’s top fintech founders, focusing on late Seed and Series A investments.

The firm supports startups poised to disrupt the financial technology sector by providing capital and strategic guidance to accelerate growth and market expansion. 

The VC recently closed a £121M (approximately €144M) fund aimed at supporting companies at Seed to Series A stages, with ticket sizes ranging from £1M to £7M (approximately between €1.19M to €8.33M).

To date, 13books Capital has backed 19 fintech companies, with investments including Roadzen, Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino, Fenergo, and ErisX.

Worxinvest

HQ: Antwerp

WorxInvest has launched its first fund of funds, WorxInvest Horizon I, registered with the FSMA. 

This fund aims to include diversified private equity funds and has raised over €100M at its first closing.

The fund focuses on buyouts and growth capital for small and medium-sized companies, with investments from Europe and North America. WorxInvest has already subscribed to five private equity funds: Alpine, Apheon, Inflexion, Main Capital, and Verdane.

The fund meets the Article 8 classification (‘light green’) under the European Sustainable Finance Disclosure Regulation, promoting positive environmental and social characteristics while ensuring good governance in the invested companies.

Eurazeo

HQ: Paris

Eurazeo has announced the successful closing of its first infrastructure program, which includes the Eurazeo Transition Infrastructure Fund (ETIF) and a co-investment vehicle.

The program received €706M in commitments from institutional investors in North America, EMEA, and France, surpassing the original target of €500M by over 40 per cent.

Throughout the fundraising process, ETIF has consistently deployed capital and has already built a portfolio of 6 transition infrastructure companies, representing approximately 60 per cent of the total capital raised.

ETIF focuses on investing in transition assets in the energy, digital, clean transport, and environmental sectors.

Nextalia

HQ: Milan

Nextalia has successfully raised €150M for “Nextalia Ventures,” a closed-end alternative fund aimed at professional investors.

The fund focuses on technology startups and scale-ups in Italy, Europe, and the United States, with a specific focus on sectors like Fintech, Insurtech, Edtech, Agritech, and Healthtech.

Nextalia Ventures is also committed to investing in activities promoting environmental sustainability, social inclusion, education, and the responsible use of technology, seeing technological innovation as a powerful driver of concrete and sustainable change.

Marktlink Capital

HQ: Amsterdam

Hiring status: Yes| Apply here

Marktlink Capital, born from the merger of Marktlink Investment Partners and Welt Ventures, is an investment company providing entrepreneurs and private investors with access to private equity and venture capital funds in Europe and North America.

The VC focuses on broader technological trends into account when composing its portfolio, including Artificial Intelligence (AI).

To date, more than €1.5B in committed capital has been secured, almost entirely from Dutch entrepreneurs.

Recently, the Amsterdam-based VC closed the subscription for its second venture capital fund-of-funds in six months, securing €80M in capital from approximately 150 private investors.

Alpine Space Ventures

HQ: Munich

Hiring status: Yes| Apply here 

(Note: While ASV is not currently hiring, there are job opportunities in its portfolio companies)

Alpine Space Ventures is a European investment fund manager that specialises in early-stage investments in the emerging European space sector.

They recently closed their first fund at €170M, primarily targeting Series A rounds for startups in the global space industry.

The fund aims to invest in selected 15 startups with core space-based capabilities. It has already invested in five companies in its portfolio: K2 Space, Reflex Aerospace, Morpheus Space, Blackwave, and Source Energy.

Creas

HQ: Madrid

A few days back, Creas Impacto announced the first closing of its second impact fund, called Creas Impacto II, with €35M in commitments, including the support of the European Investment Fund (EIF) and the Instituto de Crédito Oficial (ICO).

Specifically, the EIF will invest €20M through the InvestEU program, the ICO will allocate €10M through AXIS, and several Spanish family offices and foreign investors, such as the Daniel and Nina Carasso Foundation, will contribute € 5 M. The fund aims to reach €70M.

The funds will be used to invest in startups that generate a positive impact in areas such as sustainability, social inclusion, and technology for the common good.

Biovance Capital Partners

HQ: Lisbon

Biovance Capital Partners is a life sciences venture capital firm. Recently, the VC announced the first closing of its new biotech fund — Biovance Capital Fund I, at €51M.

Being one of the few Iberian funds exclusively focused on early-stage biotech, Biovance Capital will invest in disruptive drug development companies across Europe.

The fund has a special focus on Portugal and Southern Europe, where the exceptional quality of biomedical research, following large public investments, has generated a wealth of technologies ready to be spun out into new ventures.

The investment team will target seed and Series A rounds, with ticket sizes ranging from €1.5M to 6M. The fund will provide crucial capital and support for the development of novel transformational therapies that address unmet medical needs across all disease areas.

Frumtak Ventures

HQ: Reykjavík 

Frumtak Ventures focuses on investing in companies from the early stage through IPO.

They provide support to entrepreneurs as they solve complex real-world challenges using advanced technologies like software, AI, deep tech, and hardware components.

Recently, the VC raised €80.3M in Frumtak IV.

LUMO Labs

HQ: Eindhoven

LUMO Labs is the Dutch fund manager behind impact-driven investment funds in emerging technologies.

LUMO Labs funds startups that align with at least one of the three United Nations Sustainable Development Goals: Sustainable Cities & Communities, Good Health & Well-Being, and Quality Education. 

The fund’s investment focus includes Artificial Intelligence/Data, Blockchain, the Internet of Things, Robotics and Drones, and Virtual Reality/Augmented Reality.

Recently, the VC announced the launch of a new fund — LUMO Rise Fund at €100M.

With this fund, the Dutch VC aims to invest in 30 to 35 impact-driven startups in Europe focused on the development and application of emerging digital technologies for a greener and stronger society. 

The LUMO Rise Fund expands LUMO Labs‘ investment strategy, focusing on integrating physical and digital realities in society.

Brightcap Ventures

HQ: Sofia

Founded by a diverse team, BrightCap aims to help founders from Rising SEE scale into Western European and US markets.

BrightCap II — The VC’s Fund II aims to invest in unique, globally scalable tech companies from Southeastern Europe in three priority sectors: Future of Work, Digital Health, and Fintech. 

Initial investments will range from €0.4M to €3M, targeting pre-seed and seed stages.

A few days back, the VC completed the first close of its new fund, Fund II, which is targeting €60M.

BrightCap II is funded by the European Union—NextGenerationEU, with the financial backing of the Bulgarian government under the Bulgaria Recovery and Resilience Plan and the Romanian Government under the Romania Recovery Equity Fund.

The Bulgarian VC will use the capital to invest in founders from Rising Southeastern Europe – a region home to outstanding tech talent and an increasing number of global success stories in recent years.

Trill Impact

HQ: Stockholm

Trill Impact is a pioneering Impact House with around €1.3B in assets under management across its investment strategies — Impact Private Equity, Impact Ventures, and Microfinance.

Recently, the VC closed on above €90M with a thematic focus primarily on Life Science and Green Technology investments, with a particular emphasis on addressing underserved patient groups and backing innovative green tech solutions.

The Ventures Fund has been backed by institutional investors across Europe, with Nordea and Saminvest being the largest investors.

Green European Tech Fund

HQ: Munich

The Green European Tech Fund, previously known as Munich Venture Partners, has announced the first close of its new fund dedicated to investing in cleantech solutions and impactful businesses across various sectors such as energy, mobility, ag&food, and industry.

Investors, including the European Investment Fund, BNP Paribas, Sächsische Aufbaubank, and others, have supported the first close. Current commitments to the fund amount to €100M.

Building upon a long history of ESG and impact investing, the GET Fund is classified as an Article 9 SFDR fund. 

The team integrates a science-based impact framework based on the Triple Top Line to align the environmental and social impact of business models with the financial return expectations of venture capital investors.

Forestay Capital

HQ: Geneva

Forestay is an early-growth-stage tech fund that is part of B-FLEXION, an entrepreneurial private investment firm founded by Ernesto Bertarelli.  

The VC supports startups with investments between $10M and $20M in Europe, Israel, and opportunistically on the East Coast of the US.  

Recently, the company announced the closing of our second fund, Forestay II at $220M (approximately €202M).

Forestay II will focus on early-growth stage investments in Enterprise AI and SaaS technology companies across Europe and Israel. 

As part of Forestay II, the company has partnered with three companies, including Enterprise AI startups such as Israeli cyber security solution, VERITI, and Swiss engineering intelligence company Neural Concept.

Seaya

HQ: Madrid

Seaya Andromeda is Southern Europe’s largest ClimateTech VC fund. It is part of Seaya, a European and Latin American VC platform with offices in Madrid, Barcelona, and Mexico City.

Recently, Seaya closed Article 9 climate-tech fund at €300M. The fund’s limited partners include Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance.

Seaya’s new fund will invest between €7M-40M as a first cheque and retain capital for follow-ons. It plans to make 25 investments by the end of 2027, including around five more deals this year.

This new fund brings Seaya’s total assets under management to over €650M, making it the largest VC investor in Spain. ‘Seaya Andromeda’ intends to invest in 25 climate-focused portfolio companies before the end of 2027.

NewPort Capital 

HQ: Amsterdam

NewPort Capital is an independent private equity firm that invests in Dutch companies known for their strong growth potential and capable management teams. 

Recently, the VC announced the first close of its third fund — NewPort Buyout Fund III Coöperatief U.A.

The Fund received backing from a diverse group of longstanding institutional investors, including endowments, family offices, and entrepreneurs, while also welcoming several new investors.