The fresh fund saw backing from Banco Santander.

The round was supported by the British Business Bank, alongside a network of angel investors, founders, and family offices across the UK and Europe.

The new fund saw support from long-standing institutional investors and returning LPs across multiple fund generations.

The fresh fund saw support from existing backers such as VKR Holding, along with new institutional investors including Realdania.

The program includes a €140 million EU guarantee provided by the European Commission and €21 million in EU investment grants.

Invest-NL has committed to Keen Venture Partners’ European Defence & Security Tech Fund.

Fund II will invest in up to 30 UK-based pre-seed and seed-stage startups, with typical initial cheques of around $2 million.

With a new €25M fund closed, FIRSTPICK is doubling down on early-stage startups. Andra Bagdonaitė told us more about the firm’s plans.