Vestbee has compiled an extended list of venture capital funds launched in the fourth quarter of 2025. It includes firms from the CEE region investing locally and across Europe, as well as venture funds headquartered elsewhere in Europe.
New VC funds from CEE
- Croatia’s VC firm Provectus Capital Partners has announced the launch of PCP SEE Fund II, raising €162.5 million in its first close, with a final target of €250 million expected to be closed by Q2/Q3 2026.
- Warsaw-based VC firm Expeditions has closed the first €100 million of Fund II, backed by the NATO Innovation Fund (NIF) and the Polish Development Fund, to support founders and strengthen Europe’s tech and defense capabilities.
- Balnord, an early-stage investor focused on the Baltic Sea Region, has reached a first close for Fund I, exceeding its €70 million target. It is on track to reach €100 million by mid-2026. The fund will invest in deeptech and dual-use companies.
- Ukrainian VC firm Ukraine Phoenix Tech Fund has launched a €50 million fund backed by the European Investment Bank (EIB) and Bpifrance. The fund aims to support around 50 early-stage startups with up to €1 million each.
- Budapest-based VC firm Day One Capital has launched a €45 million fund to support early-stage tech startups in Central and Eastern Europe, with a focus on B2B software and innovative technologies.
Check out our interview with Csaba Kákosy, Managing Partner at Day One Capital, to find out more about the fund's plans.
- PFR Ventures has backed four new investment vehicles, including Betacluster Ventures, Cofounder VC, Stelo Ventures, and VO2 Ventures, providing a total of €46.3 million of the nearly €62 million available to finance Polish startups at various stages of growth.
- Lithuania’s VC firm Aneli Capital has launched a €35 million fund to back technology startups across the Baltic states, Poland, and other Central and Eastern European markets.
New VC funds from Europe
- US-based venture capital firm Sequoia Capital has launched a $950 million early-stage investment initiative, including a $750 million Series A fund and a $200 million seed fund.
- Paris-based venture capital firm Sofinnova Partners has raised €650 million for Fund XI, bringing its total capital raised to €1.5 billion. The fund will invest in 50 to 60 new companies, fueling the next wave of innovation in biotech and medtech.
- German VC firm Future Energy Ventures has closed Fund II at €205 million, complemented by a €30 million dedicated fund for Italy, to support startups driving the energy transition.
- French VC firm Serena has closed its €200 million Fund IV, bringing total assets under management to over €1 billion. The fund will back early-stage European startups in applied AI and the energy transition, with up to €15 million per company.
- Dutch VC firm Keen Venture Partners has announced the first close of its €150 million European defence tech fund, with €40 million each from the European Investment Fund (EIF) and Dutch pension fund PME.
- Danish VC firm 55 North has raised a €134 million fund to invest in European deeptech, with a total target of €300 million. The fund was backed by Novo Holdings, the European Investment Fund (EIF), Vsquared Ventures, and Cambium Capital.
- Madrid-based venture capital firm Kibo Ventures has secured €100 million for Fund IV, with a final target of €120 million, to support early-stage European startups.
- London-based Concept Ventures has launched an $88 million fund to back Europe’s pre-seed founders, with support from portfolio founders of ElevenLabs , Wayve , FACEIT, and US-based institutional investors.
- Finland-based VC firm Vendep Capital has raised €80 million for its new Fund IV, which will support 20 early-stage SaaS startups across the Nordics and Baltics.
- Amsterdam-based Rubio Impact Ventures has secured over €70 million for its third impact fund. It will invest in around 30 impact-driven companies tackling climate and social challenges.
- Italy’s VC firm Maia Ventures has launched its first €55 million fund to invest in 20–25 agrifood tech startups. LPs include the European Investment Fund (EIF) and private investors such as Teseo Capital, among others.
- British pre-seed VC firm Creator Fund has raised $41 million for its first European institutional fund to support PhD founders and deeptech startups across Europe.
- TIN Capital has raised a €20 million investment from the European Investment Fund (EIF) into its European Cyber Tech Fund V, pushing the fund to a final closing of over €80 million. It plans to back more than a dozen European cybersecurity scaleups.
- UK deeptech VC Baobab Ventures has launched a $15 million fund, backed by LPs including Cendana Capital, Isomer Capital, RSJ Investments, and Emergence Ventures, among others.
- London-based VC firm Onstage has launched a £10 million early-stage fund to support European founders at the pre-seed and seed stages. LPs include Peter Simon, Alex Chesterman, and GPs from Concept Ventures, Creator Ventures, Chapter One, and EPISODE17.
- Luxembourg-based VC firm Catalpa Ventures has secured €10 million in commitments from its €30 million Catalpa Health Fund I. Backers include entrepreneurs, family offices, and industry leaders, with a final close targeted for the first quarter of 2027.
