Ready to invest: European VCs that raised fresh funds in Q3 2026

Q3 2026 kept momentum in European venture capital fundraising, with billion-scale vehicles returning to the market alongside a long tail of specialist funds preparing to back the next generation of startups. 

For founders planning to raise capital, knowing which investors have recently secured fresh commitments, and where they intend to deploy them, can help focus fundraising efforts on the most relevant partners. From AI and deeptech to defence, climate, healthtech, fintech, and industrial innovation, aligning your outreach with funds that match your sector and stage can significantly improve fundraising outcomes. 

To make that easier, we've compiled a list of venture capital firms across Europe, with a particular focus on SEE, DACH, Benelux, and the broader European ecosystem, that announced new funds during Q3 2026, including each fund's size and investment thesis.

New VC funds raised in SEE

Here is a list of new venture capital funds raised in the third quarter of 2026 in the Southeast Europe region:

• [Bulgaria] LAUNCHub Ventures — Sofia-based LAUNCHub Ventures has secured a €65M first close for its third fund, targeting more than €75M, with backing from the European Investment Fund (EIF), the EBRD, and recovery-program capital from Romania and Bulgaria. The fund will make around 25 pre-seed and seed investments across CEE and SEE, including Bulgaria, Romania, Croatia, Greece, Slovenia, Serbia, and the Western Balkans, with initial tickets of €300K–€3M and the ability to lead rounds of up to €7M. Its first three investments are all AI-native companies, and the firm also promoted Raya Yunakova and Petar Tsachev to General Partner.
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• [Czech Republic/Poland] Orbit Capital — Prague- and Warsaw-based Orbit Capital has reached a €107M second close for its Venture Debt Fund II, surpassing its €100M target. The firm provides non-dilutive growth financing to post-Series A companies across CEE and DACH, and the fund marks PFR Ventures' first-ever commitment to venture debt, a sign that public capital in the region is starting to test instruments beyond equity.
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• [Poland] Expeditions — Expeditions has announced the final close of its €197M Fund II, more than doubling its initial target, to back early-stage founders in defence and dual-use technologies. The fund invests across AI, autonomy, cybersecurity, quantum, communications, and space, and counts BAE Systems, Keysight Technologies, the EIF, and the NATO Innovation Fund among its LPs, reflecting how defence companies are increasingly becoming investors in VC funds, not just customers of their portfolio companies.
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• [Romania] Nucleo Ventures — Romanian VC firm Nucleo Ventures, formerly known as Fortech Ventures, has launched a €34M fund to invest in early-stage startups and SMEs across Central and Eastern Europe, alongside a rebrand that reflects its ambition to back founders beyond its original link to software company Fortech. The fund plans to back around 46 companies over the next four years, with initial tickets of €200K–€1M and reserves for follow-ons, targeting AI, cybersecurity, enterprise software, digital transformation, agritech, and healthtech. The North-West Regional Development Agency (ADR Nord-Vest) backs the vehicle through EU-co-financed regional funding.
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• [Serbia] Forty.5 Ventures — Forty.5 Ventures has closed its $30M debut fund to back pre-seed and seed startups primarily from Southeastern Europe, operating from Belgrade alongside offices in Los Angeles and Singapore to help portfolio companies expand globally. The fund writes 200K–1M tickets into vertical AI, fintech, and cybersecurity, as well as gaming, sports, media, and creator-economy infrastructure. Backed entirely by family offices, angels, and operators, the firm also runs F5V Build, a free venture-builder track for founders at the pre-product stage.
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• [Ukraine] Resist.UA — Resist.UA has launched Resist 2.0, targeting up to €50M to back Ukrainian and Ukrainian-rooted European companies developing solutions shaped by frontline requirements, reflecting growing investor interest in battlefield-tested defence and dual-use technologies.

New VC funds raised in DACH

We're continuing with a list of new venture capital funds raised in the third quarter of 2026 in the DACH region, namely in Germany, Austria, and Switzerland.

• [Germany] Auxxo — Berlin-based Auxxo has closed its Female Catalyst Fund II at €33.3M, a 75% step-up from its debut fund, with the European Investment Fund (EIF) as anchor investor alongside Cherry Ventures and Speedinvest. The fund invests in female founders building high-growth companies across Europe at early stages, and the firm has launched a pan-European co-founder matchmaking platform alongside the close.
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• [Germany] DTCP — Hamburg-based growth investor DTCP has announced a €455M first close for DTCP Defence Fund I, already close to its €500M target. The fund writes €10M–€30M tickets into Series B and later-stage defence, security, and resilience companies across Europe and NATO-aligned states, focusing on AI, autonomous systems, cyber defence, secure communications, and space infrastructure. Deutsche Telekom, Porsche SE, Denmark's EIFO, Danica, and Estonia's SmartCap are among its LPs, and the fund has already backed Kraken Technology Group and Six Robotics.
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• [Germany] Fresenius Ventures — Healthcare group Fresenius has established Fresenius Ventures, a corporate venture unit that will deploy more than €200M over five years into healthcare startups. Led by former Angelini Ventures investor Thomas Thestrup, the unit targets biopharma, medical technology, and care delivery, adding a well-capitalised strategic investor to Europe's healthtech funding landscape.
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• [Germany] Uplift Ventures — Uplift Ventures, backed by German intralogistics group Jungheinrich, has launched a €100M deeptech fund led by Christian Noske, previously a founding partner at BMW i Ventures and Alliance Ventures. The fund will back up to 20 seed to Series A companies across physical AI, energy, enterprise AI, and logistics, with tickets of €1M–€5M and an allocation of roughly 80% Europe and 20% US.
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• [Germany] VORNvc — Dortmund-based VORNvc has reached a €41M second close on its way to a €50M target, adding Sparkasse Paderborn-Detmold-Höxter and Wortmann Stiftung as new LPs. The fund backs early-stage startups from North Rhine-Westphalia, reflecting the growing role of regional banks and foundations in strengthening local venture ecosystems.
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• [Switzerland] Lakestar — Zurich-based Lakestar has closed Lakestar Resilience I at $300M, an oversubscribed fund dedicated to dual-use and defence technology companies across Europe and NATO-allied markets. Raised entirely from private capital, including strategic and institutional investors and large industrial family offices, the fund targets areas such as autonomous systems, AI-driven defence software, sovereign drone manufacturing, space technologies, and maritime platforms. It builds on Lakestar's existing defence portfolio, which includes Helsing, Frankenburg Technologies, and UFORCE.

Defence capital in the region also drew new industrial backers during the quarter. Airbus Defence and Space became an anchor LP in E2D, the €500M defence and dual-use growth fund launched by Earlybird and AVP in Q2, underscoring how defence companies are increasingly investing directly in venture funds rather than only acting as customers.

New VC funds raised in Benelux

Below you'll find a list of new venture capital funds raised in the third quarter of 2026 in the Benelux region:

• [Belgium] NewSchool VC — Belgian solo-GP firm NewSchool VC has closed its first fund at its €10M target, one year after a €6.1M first close. Founded by Christophe Morbee, who contributed 25% of the fund himself, the vehicle invests €100K–€500K in pre-seed and seed B2B technology companies, primarily in Belgium, focusing on AI, SaaS, cybersecurity, robotics, and compliance solutions for traditional industries. Around 50 investors back the fund, including six family offices and founders from companies such as Aikido Security.
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• [Belgium] WAD Capital — Ghent-based WAD Capital has reached a €67.5M first close for its debut fund, with a €25M commitment from the European Investment Fund (EIF) under InvestEU, as it works towards a €130M target. Rather than backing startups, the firm acquires profitable SMEs facing succession challenges across the Benelux, northern France, and western Germany and hands them to vetted operators, an "Entrepreneurship Through Acquisition" model that offers an alternative route for founders and executives looking to run an established business.
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• [Netherlands] Norrsken Evolve — Swedish pre-seed fund Norrsken Evolve has closed at €62M, well above its initial €40M target, and formalised its Dutch presence with a permanent base at Norrsken House Amsterdam, its second hub after Stockholm. The fund backs founders tackling climate, health, and resilience challenges with initial tickets of up to €500K, and expects to deploy around €3M into five to eight Dutch startups over its lifetime. LPs include the European Investment Fund (EIF), Saminvest, SmartCap, and Skaala, the family office of Wise co-founder Taavet Hinrikus and Sten Tamkivi.

Other VC funds raised in Europe

Last but not least, we are bringing you the list of other new venture capital funds that were raised across Europe in the third quarter of this year.

• [Denmark] Climentum Capital — Copenhagen-based Climentum Capital has reached a €60M first close for its second fund, matching the full size of its first vehicle, as it continues backing European climate hardtech companies. Structured as an Article 9 fund with a dual carry model linked to both financial returns and verified CO₂ savings, the fund is backed by the European Investment Fund (EIF) and invests through teams across the Nordics and Germany.
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• [Denmark] Seed Capital — Copenhagen-based Seed Capital has closed its fifth fund at €130M to back seed-stage startups across the Nordics, expanding beyond Denmark into Sweden for the first time. The fund will invest in 15–17 companies with initial tickets of €3M–€6M, focusing on fintech, AI-driven B2B, cybersecurity, and resilience.
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• [France] Sofinnova Partners — Life sciences investor Sofinnova Partners has closed its fourth MD Start fund at €82M. The strategy builds medtech companies from inception, combining capital with clinical, scientific, and operational support, and aims to create up to eight medtech companies across Europe and the US over the next five years.
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• [Italy] Primo Capital — Milan-based Primo Capital has launched Primo Space 2, targeting €120M for European space and dual-use technologies, with more than €70M in expressions of interest ahead of first close from Italian and European institutional investors, including the EIF. The fund focuses on satellite technologies, Earth observation, communications, navigation, and cybersecurity.
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• [Italy] Techshop — Milan-based Techshop has reached a €43M first close for Techshop II, exceeding its initial target and now aiming for €100M in 2027. The fund backs pre-seed and seed startups building AI-powered B2B solutions, with CDP Venture Capital joining as a reference investor, and its first investments will cover AI for sales, development tools, and advisory.
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• [Norway] RunwayVC — Norwegian industrial-tech investor RunwayVC has reached a €40M first close for its second fund to back Nordic robotics and automation founders. The fund is supported by industrial and institutional LPs including Aker, Halliburton, Aker BP, and pension provider KLP.
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• [UK] Accel — Accel has raised $800M for its ninth dedicated European fund, up from $650M for its predecessor, as part of a $3.5B raise across four vehicles. Run by its London team, which has backed Monzo, Vinted, Lovable, Legora, n8n, and Synthesia, the fund will support early-stage startups and follow-on rounds with a strong focus on AI.
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• [UK] Claret Capital Partners — Claret Capital Partners has raised €575M for Claret European Growth Capital Fund IV, exceeding its €500M target. The firm provides growth debt to companies across biotech, healthtech, life sciences, and impact, offering founders a non-dilutive alternative to equity.
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• [UK] Connect Ventures — Connect Ventures has announced a $55M first close for its fifth fund, targeting $80M, to back pre-seed founders across Europe building in AI, infrastructure, hardware, robotics, and biotech.
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• [UK] Crane Venture Partners — London-based Crane Venture Partners has raised €419M ($484M) across four vehicles, including the €146M Crane III, alongside dedicated APAC, US, and opportunity funds. Crane invests from inception to seed and is building a connected global platform in partnership with long-time anchor investor MassMutual Ventures.
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• [UK/Switzerland] Highland Europe — London- and Geneva-based Highland Europe has closed its sixth fund at €1.1B, its largest to date, including a €65M commitment from the British Business Bank. The growth-stage investor backs European software and technology companies from Series B to pre-IPO, taking its total raised since 2012 to €3.75B.
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• [UK] Index Ventures — Index Ventures has raised $2B across three vehicles: a $400M seed fund, a $900M venture fund, and $700M added to its growth fund, which now stands at $2.2B. The structure lets the firm back companies from their first cheque through later growth rounds.
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• [UK] Molten Ventures — Molten Ventures has reached a £175M first close for its new Growth Fund, targeting £350M, with a £75M cornerstone commitment from the British Business Bank. The fund focuses on Series B and later-stage investments in AI, space, fintech, quantum, deeptech, and hardware companies across the UK and Europe.
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• [UK] QuantumLight — QuantumLight, the VC firm co-founded by Revolut CEO Nik Storonsky, has closed its second fund at $500M, nearly doubling its first fund in 15 months. The firm uses its in-house AI system to screen and select investments.
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• [UK] Ruya Ventures — Former Speedinvest deeptech lead Rick Hao has closed Ruya Ventures' oversubscribed $50M debut fund. The solo-GP, pre-seed vehicle will back around 20 European deeptech companies from day zero, including batteries and semiconductors.
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• [UK] Tapestry VC — London-based Tapestry VC has closed its third fund at $80M, nearly tripling its previous $30M vehicle, with the British Business Bank as co-anchor. The firm leads pre-seed and seed rounds for repeat founders across Europe and the US.
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• [UK] Zinc — UK venture builder Zinc has secured up to £46M from the British Business Bank for its Science-for-Impact Fund, which targets £70M. Zinc invests from the earliest stages and plans a portfolio of 80 UK deeptech startups across advanced manufacturing, clean energy, life sciences, engineering, biology, and AI.
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• [Europe] Brighteye Ventures — Brighteye Ventures has secured a $72M first close of its third fund, bringing its total assets under management to $245M. Expanding beyond edtech, the fund will back early-stage European startups developing technologies shaping the future of learning and work.
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• [Europe] White Star Capital — White Star Capital, which operates from offices including London, Paris, Milan, and Berlin, has held the final close of Fund IV at $250M. The firm leads Series A and B rounds in foundational AI models, vertical AI applications, and physical AI, with LPs including Teralys Capital and CDP Equity.

Additionally, public and corporate LPs continued to back specialist managers. The European Investment Fund committed €20M to Educapital III, the pan-European edtech and future-of-work VC whose portfolio includes Preply, and up to €30M to Nordic Foodtech VC's €80M second fund backing pre-seed and seed agrifood-tech startups.

Retailer Tesco has also committed £20M as anchor investor in Bramble Partners, the food-system venture fund founded by Leon co-founder Henry Dimbleby, which is now targeting £100M, highlighting growing corporate participation in specialist impact funds.

And right at the start of Q4, two more funds landed: Headline closed its $400M Fund VIII to back European seed and Series A startups with a focus on AI, while DIG Ventures closed a $120M Fund III to back around 30 European and Israeli pre-seed and seed startups in enterprise AI infrastructure.

Turn fresh capital into your next round

If Q3 made one thing clear, it's that European investors are raising increasingly specialised funds, from defence and vertical AI to deeptech and regional seed vehicles.

A fund with fresh capital is actively looking for deals, but it is also building a portfolio around a precise thesis. Before reaching out, check whether your company fits the fund's stage, ticket size, sector, and geography, and whether the investor typically leads rounds or follows.

Once you know who to pitch, the next step is making sure your round is ready for them. SeedBlink CORE guides founders step by step through preparing their fundraise, so you can approach investors with a clear story, solid metrics, and a well-structured round, and move quickly when interest turns into a term sheet.

Looking to expand your investor pipeline? Explore SeedBlink's European VC Network list to discover more venture capital funds active across Europe.

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