Aspire11 has announced the launch of its inaugural €500 million pension-backed fund. Inspired by the Canadian Maple Model, Aspire11’s mission is to open new pathways for European pension funds to increase their exposure to VC and growth companies. Currently, only 0.02% of EU pension fund assets flow into high-growth startups, compared with almost 2% in the US, the fund's team says. Aspire11 aims to help close this gap, addressing Europe’s undercapitalisation and reliance on overseas capital.
- Aspire11 is led by Pavel Mucha. Mucha previously established KAYA VC, co-founded venture debt firm Orbit Capital, and backed some of the CEE region’s most successful ventures, including Rohlik Group, Mews, Booksy, and DocPlanner. Tülin Tokatli, who evaluated VC investors at the European Investment Fund (EIF), joined as a partner.
- Aspire11 introduces a dual investment strategy: Tribes and Eternals. Tribes focuses on supporting a new generation of early-stage VC investors and founders specialising in emerging technologies and demographic shifts. Eternals backs companies with a long-term horizon, holding positions for 20 years or more to support enduring, industry-defining businesses.
- The fund will invest directly in VC investors and growth companies, Series B and later, or via secondaries, with ticket sizes ranging from €10 million to €30 million.
About Aspire11’s major LP
Aspire11’s major LP is Czech pension company Rentea, part of The Partners Group. With this backing, Aspire11 aims to demonstrate the benefits of directing pension capital to outstanding VC investors and lifelong builders, ensuring stronger returns for retirees while supporting Europe’s future economy.
According to Aspire11’s analysis, redirecting just 1% of European pension funds’ assets under management could unlock €87 billion without undermining stability, and sustained investment at that level over the next decade could exceed €1.1 trillion due to compounding effects.
What's next
Aspire11 plans to expand its international team and global footprint in the coming years, while keeping Europe as its main focus.
