Q1 2026 fund launches point to a clear reallocation of capital toward deeptech, climate, and defence — sectors increasingly aligned with Europe’s industrial and geopolitical priorities. At the same time, early-stage activity remains strong but fragmented, while the emergence of larger fund of funds vehicles signals a more structural push to address Europe’s long-standing late-stage funding gap.
Vestbee has compiled an extended list of venture capital funds launched in the first quarter of 2026. The selection includes funds originating from the CEE region — investing both locally and across the broader European ecosystem — alongside firms headquartered in Western Europe, global players active in the region, and a growing number of fund of funds vehicles.
New VC funds from CEE
- Credo Ventures has launched its fifth $88 million fund, backing up to 30 pre-seed startups. The sector-agnostic strategy reflects continued demand for early-stage capital in CEE and among diaspora founders.
- Warsaw-based Montis VC has raised €50 million at first close for a new fund to back early-stage European startups that develop technologies for the energy and industrial transition, signalling growing investor focus on hard infrastructure and decarbonisation.
- FIRSTPICK has raised €25 million to back early-stage Baltic startups. The fund will target founders at the very beginning of their journey, investing from inception through pre-seed.
- Ukrainian VC firm Angel One has closed a $3 million second fund, which will support 12 seed-stage startups in 2026, evenly split between civilian and defence technologies.
New VC funds from Europe
- Spanish VC firm Seaya has launched Growth Tech Fund I, a €1 billion fund focused on applied AI and deeptech, marking one of the largest growth vehicles in Europe this quarter.
- Kembara has raised a €750 million first close toward its €1 billion target, making it Europe’s largest dedicated deeptech growth fund. The fund is now actively investing in science and engineering companies at the critical Series B and C stages to scale.
- German UVC Partners has expanded its latest fund to €400 million. The firm backs B2B tech startups across Europe, from seed to Series B, with a focus on deeptech, climate tech, mobility, and AI.
- DTCP has raised €300 million for its new defence-focused fund, targeting a final close of €500 million. The fund will back around 30 companies across software, AI, cyber, and autonomous systems.
- French VC firm Daphni has closed a €260 million fund to back science-driven deeptech startups across Europe.
- Luxembourg-based Join Capital has raised €50 million for its third fund, targeting €235 million to back European deeptech in defence, dual-use, security, and space — sectors, increasingly prioritised in Europe’s sovereignty agenda.
- Air Street Capital has raised $232 million for its third fund to back AI-first startups across North America and Europe. With Fund III, it became Europe’s largest solo GP venture firm.
- French VC firm Quantonation has closed a €220 million fund to back early-stage quantum and physics-based startups.
- 2150 has launched its second fund, raising €210 million. It plans to invest in startups accelerating the decarbonisation and transformation of cities.
- Swiss VC firm Vi Partners has launched a €161 million fund to support pre-seed, seed, and Series A healthtech, AI, and fintech startups.
- Paris-based Elaia has closed its third deeptech seed fund at €134 million, aimed at supporting early-stage European startups in computing, life sciences, robotics, and other deeptech sectors.
- Spanish VC Samaipata has launched its third €110 million fund. It plans to back up to 30 European startups building AI-driven technology.
- Turkey-based venture capital firm e2vc has closed a €100 million Fund III to invest in early-stage startups across CEE and the Baltics.
- Italian-French venture capital firm 360 Capital has raised €85 million for Poli360 2, its €100 million technology transfer fund aimed at investing in early-stage deeptech startups.
- Danish The Footprint Firm has closed a €76 million Footprint Fund I. It focuses on early-stage deeptech companies driving the green transition in Northern Europe.
- Munich-based VC firm Ananda Impact Ventures has made a €73 million first close of its fifth Core Impact Fund. It invests in early-stage founders developing scalable solutions to interconnected social and environmental challenges.
Global funds investing in Europe
- Investment firm Partech has closed its first Partech Impact Fund with €300 million in commitments. The fund targets European B2B tech companies generating over €10 million in revenue, supporting impact-native businesses as they prepare to scale.
- Voyager Ventures has closed its second fund at $275 million to invest in early-stage climate-tech, energy, materials, and industrial technology startups across North America and Europe.
New funds of funds
- EIF is launching a €15 billion fund of funds to back growth-stage VC across Europe. It will invest in ~100 funds, enabling larger tickets of up to €200 million per company — a significant increase compared to historical averages — and directly targeting Europe’s late-stage funding gap.
- EIF and Baltic national institutions have launched Baltic Innovation Fund 3, a €225M initiative to strengthen the region’s PE and VC market. BIF 3 will back 8–11 funds over five years.
