$6,642M was raised (or targeted in newly launched vehicles) across 28 new funds from this list, with Europe dominating both volume and strategy.
Capital is heavily skewed toward:
- Early-stage and pre-seed/seed: deeptech, AI, defence/dual-use, climate & energy, healthtech, consumer, agrifood.
- Significant late-stage & PE-style vehicles: healthcare, growth equity, continuation funds, and fund-of-funds platforms.
- Key verticals: AI & software infrastructure, climate & energy transition, defence & dual-use, healthtech, consumer tech, and industrial/vertical SaaS.
For all fund detailed information go to https://privateequitylist.com/search
Some fund links are added below - just click on See full investor profile.
EUROPE
Large & Upper-Mid Vehicles
- GHO Capital Fund IV (🇬🇧 United Kingdom) – $2,890M healthcare-focused PE fund backing European healthcare platforms (outsourced services, pharma/biotech, medtech, patient services) with global scale and buy-and-build. Late-stage / control & significant minorities across Europe and beyond. See full investor profile.
- Aspire11 (🇪🇺 Europe) – $578M fund-of-funds and co-investment platform backing top-tier VC and growth managers plus direct deals, with a European institutional LP base and multi-strategy mandate. Targets venture and growth stages across tech and climate. See full investor profile.
- Evantic Capital (🇬🇧 United Kingdom) – $400M new fund from ex-Sequoia partner Matt Miller, targeting B2B AI across Europe, the US, and Israel. Multi-stage, with deep operator/GP network for sourcing and company-building leverage. See full investor profile.
- 55 North Fund I (🇩🇰 Denmark) – $346.8M target (first close already secured) dedicated to quantum technologies globally (computing, sensing, communications), backing early through growth with capacity for large tickets. See full investor profile.
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- Lakestar Continuation Fund (🇨🇭 Switzerland) – $306.3M continuation vehicle for selected portfolio winners; concentrated, later-stage exposure for LPs wanting extended upside in European tech. See full investor profile.
- Serena Fund IV (🇫🇷 France) – $231.2M early-stage fund for applied AI, SaaS, climate & energy transition, infra and impact, from pre-seed to Series A across Europe. See full investor profile.
- Ventech Capital VI (🇫🇷 France) – $202.3M generalist early-stage fund with heavy allocation to AI-native, digital health, cybersecurity, infra & sovereignty tech, primarily Series A across Europe. See full investor profile.
- Provectus PCP SEE Fund II (🇭🇷 Croatia) – $187.8M first close for a PE fund targeting buy-and-build in Southeast Europe (healthcare, consumer, tech & business services).
- Big Pi Growth Fund (🇬🇷 Greece) – $150.3M first close of a growth fund for Greek and Greece-linked tech companies (B2B SaaS, deeptech, health, infrastructure). Late-stage checks into revenue-scale companies.
- BNVT Capital Fund (🇺🇸/🇪🇺 Other/Global) – $150M climate & frontier-tech oriented vehicle (including participation from marquee LPs) with a transatlantic mandate across energy, deeptech, and AI.
- Iris Ventures Fund II (🇪🇸 Spain) – $115.6M first close dedicated to consumer, beauty, wellness, longevity & conscious living brands at growth stage, primarily in Europe with selective US exposure.
- Verne Capital (🇩🇪 Germany) – $115.6M fund for European defence, security and cyber startups, with a ring-fenced allocation for Ukrainian defence tech. Early-stage, pan-European.
- Expeditions Fund II (🇵🇱 Poland) – $115.6M first close (target higher) for dual-use deeptech & defence across Europe (AI, autonomy, space, cybersecurity). Pre-seed to Series A.
Specialist Early-Stage & Thematic Funds
- TIN Capital European Cyber Tech Fund V (🇳🇱 Netherlands) – $92.5M+ final close for European cybersecurity scaleups (data intelligence, infra, privacy, AI security). Growth-stage and scale-up focus across Europe.
- United Founders (🇨🇿 Czech Republic / Pan-Europe) – $92.5M target (first close completed) pan-European AI & deeptech fund backed by 100+ founders & operators. Pre-seed/seed tickets up to ~€1M across Europe & Israel.
- Concept Ventures Fund II (🇬🇧 United Kingdom) – $88M dedicated pre-seed fund for UK & European founders, sector-agnostic but software-heavy, with ability to follow on through Series A.
- Balnord Fund I (🇱🇺 Luxembourg) – $80.9M+ committed for Baltic & Nordic dual-use, frontier & industrial deeptech; early-stage tickets €0.5–3M with strong follow-on.
- Rubio Impact Ventures Fund III (🇳🇱 Netherlands) – $80.9M+ impact fund for climate & social innovation(circularity, inclusion, healthy systems) across Europe at early growth stages.
- Maia Ventures (🇮🇹 Italy) – $63.6M fund for agrifood & food-as-medicine tech, primarily seed with selective pre-seed/Series A across Europe.
- Ukraine Phoenix Tech Fund (🇺🇦 Ukraine) – $57.8M dedicated early-stage fund for Ukrainian tech & research spinouts, from pre-seed to early revenue, with European and global co-investor syndicates.
- DFF Ventures Fund III (🇳🇱 Netherlands) – $57.8M pre-seed/seed fund for Vertical AI, recommerce, marketplaces, niche SaaS & tech-enabled services globally.
- Vireo Ventures (🇩🇪 Germany) – $57.8M fund focused on electrification & energy software (EV charging, flexibility, grid & consumption optimization). Pre-seed & seed in Europe.
- Creator Fund (🇬🇧 United Kingdom) – $41M deeptech fund backing PhD and academic founders across Europe (AI, robotics, life sciences, quantum) at pre-seed/seed.
- Calm/Storm Fund II (🇦🇹 Austria) – $34.7M early-stage fund focused on European healthtech & digital health infra; pre-seed/seed with strong LP co-invest channel.
- Speedinvest Continuation Fund (🇦🇹 Austria) – $34.7M+ continuation vehicle backing selected portfolio companies; concentrates exposure for existing LPs at growth inflection.
- Polytechnique Ventures Fund II (🇫🇷 France) – $24.3M alumni-backed deeptech fund for École Polytechnique-linked founders (AI, energy, robotics, fintech, industry 4.0) at pre-seed/seed.
- Outlast Fund I (🇱🇻 Latvia) – $24.3M female-led early-stage fund for Baltics & Nordics, sector-agnostic with focus on B2B, fintech, logistics, and biometric/auth.
- Vastpoint (🇵🇱 Poland) – $22M debut seed fund backing Polish AI, B2B SaaS & healthtech founders with strong operator network.
OTHER / GLOBAL
- Aspire11 (🇪🇺 Europe) – $578M multi-manager platform (see above), deploying into top VCs and direct co-investments across Europe & beyond.
- BNVT Climate/Tech Fund (🇺🇸/🇪🇺) – $150M climate, frontier & AI-focused vehicle with global remit.
- Evantic Capital (🇬🇧 / US / IL) – $400M (see above) cross-Atlantic B2B AI specialist; structurally global.
WHAT TO DO WITH THIS (NO FLUFF)
For founders
- Defence/dual-use, AI infra, cybersecurity, energy, and deeptech are now over-funded relative to most other segments at the specialist early stage. If you’re building here and still pitching generic generalists, you’re misallocating your time.
- Pre-seed/seed in Europe can now triangulate between:
- thesis-driven micro funds (Creator, Polytechnique, Outlast, Calm/Storm),
- hard-tech/sovereignty vehicles (Balnord, Expeditions, Verne, 55 North),
- and scaled early-stage franchises (Concept, Serena, 55 North, Ventech).
- Growth and PE-style funds (GHO, Big Pi, Provectus, Lakestar, continuation vehicles) are opening clean secondary and structured options for breakout companies whose early investors are overexposed.
