SeedBlink Blog

As 2024 drew to a close, the venture capital landscape reflected a notable slowdown in new fund announcements. Despite these headwinds, some European funds managed to secure fresh capital, targeting early-stage and sector-specific opportunities, providing hope for startups seeking investment as they prepare to pitch for funding in the coming year.

Below, we highlight some of the most significant VC funds raised in Q4 2024.

New funds by European VCs raised in Q4

Berlin-based Fly Ventures announced an €80M fund in December, focusing on supporting technical founders building software-driven startups. The fund will primarily target early-stage investments, emphasizing Fly Ventures’ commitment to identifying and nurturing deep-tech talent in Europe.

Additionally, Poland's PFR Ventures has announced a new €63M investment across five venture capital funds. These investments are designed to support early-stage startups across Poland and Central Europe, with a particular focus on sectors such as technology, sustainability, and innovation.

The funds, backed by PFR Ventures, aim to provide strategic capital to promising startups and foster regional growth and innovation ecosystems. Startups raising Seed and Series A rounds will likely benefit from this new injection of funds, and the targeted investment tickets are expected to vary by fund mandate.

We’ve also seen Fifth Quarter Ventures (5QV) launch an €18.4M fund announced in October 2024. The fund targets investment tickets between €0.5M and €1M and has already added companies like Better, Orgnostic, and Wasp to its portfolio.

European solo GP Robin Capital also made headlines with the first close of its €15M fund in December 2024. The fund, managed by a solo general partner, will focus on early-stage startups and aims to provide personalized support to its portfolio companies.

New first-time European venture funds in 2024

Although the number of first-time venture capital funds in Europe has decreased steadily over the past three years, going from 66 in 2022 to just 34 in 2024, we have some new funds compared to last year, signaling resilience and a focused interest in early-stage investments and targeted innovation support.

Source: All the new first-time European VC funds of 2024

According to Sifted, these funds, categorized into the SEE, DACH, and Benelux regions, continue to drive opportunities in specific niches and underserved markets despite the overall downward trend.

New VC Funds in SEE

The Southeastern European region welcomed several new players with a focus on diverse areas such as impact innovation and tech infrastructure.

• Evercurious VC (Athens): The Greek fund launched with €12.5M closed and targets €20M. It focuses on Greek startups expanding internationally and European startups entering Greece, with pre-seed and seed investments supported by the Hellenic Development Investment Bank and local angel investors.
• Zaka (Prague): Originating from a family office, Zaka closed €10.5M and aims for a €15M target. The fund will support 40–50 companies in B2B software, writing tickets between €250K–€300K for pre-seed and seed-stage startups.

New VC Funds in DACH

The DACH region saw a surge in first-time funds focusing on emerging technologies and deep specialization.

• Capmont Technology (Munich): Marking its debut with €100M, Capmont invests in B2B tech startups across Europe. The fund targets late-seed to Series B rounds, writing tickets between €2M–€5M into startups innovating in industrial and enterprise SaaS.
• Identity.vc (Berlin): With €15M closed and a €50M target, Identity.vc specializes in LGBTQ+-led startups. As the first of its kind in Europe, the fund focuses on supporting underrepresented leadership, with tickets ranging from €250K to € 1.5M.
• 14Peaks Capital (Switzerland): Founded by Edoardo Ermotti, this $30M fund invests in B2B SaaS startups in fintech and the future of work across Europe and the US.
• Booom (Berlin): Solo GP Felix Plapperer closed €17M for Booom's first fund. The fund, which is focused on B2B SaaS startups at pre-seed and seed stages, features notable LPs, including the founders of logistics unicorn sennder.

New VC Funds in Benelux

Benelux continues to strengthen its innovation ecosystem with the addition of niche-focused funds.

• Impact Shakers (Belgium): A €5M fund targeting €20M, Impact Shakers supports diverse founders in climate and inclusion tech. Operating as an incubator and accelerator, it commits up to €1.5M per startup for follow-on rounds.
• Dutch Operator Fund (Amsterdam): Backed by local entrepreneurs, this €2M fund invests in early-stage Dutch startups with ticket sizes ranging from €75K–€200K.

The largest venture fundraisings in 2024

In 2024, the European venture capital ecosystem continued to show significant polarization, according to Sifted. The biggest funds grew even larger, while smaller, lesser-known players faced mounting challenges in securing capital.

Below, we highlight some of the largest venture fundraisings of the year from the DACH and BENELUX regions.

• Forbion (Germany): With offices in Germany, the Netherlands, and the US, Forbion raised over €2 billion across its two newest funds, Forbion Growth Opportunities III and Forbion Ventures VII.
• Innovation Industries (The Netherlands): The fund specializes in DeepTech, raised €500M for its third namesake fund and an additional €100M for its strategic partners' fund. Investments will target robotics, photonics, and AI, with ticket sizes ranging from €2M to € 50M.
• Speedinvest (Austria): Speedinvest closed its fourth fund early in 2024 at €350M. The fund focuses on early-stage investments in DeepTech, health, and SaaS startups.

Find the right investor and financing vehicle for your round

If you want to connect with these investors or learn about other active investors in the region, visit the European VC Network list, which includes venture capital funds from SEE, DACH, Benelux, and other regions.