Venture Capital Firms in Europe: 6 New Funds Closed in 2026 and What They Back

European venture capital had a hard year for fundraising. PitchBook counted €12 billion raised across 148 European venture funds in 2025, the weakest year on record, with no close above €1 billion, according to coverage of Sprints' latest fund. Even so, several firms have closed new funds in 2026. This list ranks six of them by size, with what each backs, where it is based and who it suits. Figures come from press coverage, and we mark where sources disagree.

1. Sprints Capital, Fund V: €725 Million

Sprints, a London-based growth investor known for early bets on Revolut and Vinted, closed Fund V at its €725 million hard cap, about 40 percent above its €525 million fund IV, according to Bloomberg as relayed by several outlets in October 2026. More than half is already committed, according to the firm. Backers include endowments, foundations, pension funds and family offices. It plans a concentrated portfolio of eight to ten companies across marketplaces, fintech and software at the growth stage. The close followed Salesforce's $3.6 billion acquisition of portfolio company Fin.

• Stage: growth
• Best for: scaling marketplaces, fintech and software companies with proven revenue

2. Air Street Capital, Fund III: $232 Million

London-based Air Street, run solo by Nathan Benaich, closed its third fund at $232 million in March 2026, making it one of Europe's largest solo general partner firms, according to Tech.eu and Dealroom. Fund III is nearly double the previous fund of $121 million, though reports differ on the year of that raise. It invests in AI-first companies in North America and Europe, with early-stage cheques of $500,000 to $15 million and select growth investments up to $25 million. Portfolio companies include Synthesia, Black Forest Labs, Poolside and Wayve. Commentary notes the solo model carries concentration risk.

• Stage: early to growth
• Best for: AI-first companies

3. Entourage, Fund II: €100 Million

Ghent-based Entourage, founded by former Showpad chief executive Pieterjan Bouten, closed Fund II at €100 million in October 2026, above its €75 million target. It backs around 25 pre-seed and seed companies with first cheques of €1 million to €5 million and rarely takes board seats. Early investments include Aikido, Conveo and Lexroom. See our full profile.

• Stage: pre-seed and seed
• Best for: founders in AI, enterprise software, robotics and deep tech who want a light-touch investor

4. Begin Capital, Fund II: $100 Million

London-based Begin Capital has launched a second $100 million fund and named three founders from Fund I as venture partners: Flaviu Radulescu of Runware, Elias Schneider of Codesphere and Dan Lifshits of Dwelly. Fund II has nine investments so far, including SurrealDB, Zencoder and Crewline, according to Tech Funding News. Sources disagree on timing, with one dating the launch to late October 2026 and another saying the raise was announced in March 2026. The firm backs pre-seed to Series A companies in the EU and US, focusing on deep tech software, AI infrastructure and vertical SaaS.

• Stage: pre-seed to Series A
• Best for: deep tech and AI software founders

5. PSV Tech, Fund II: €56 Million

PSV Tech closed its second fund at €56 million, below an original €70 million target, according to BeBeez and Startup Researcher. One outlet lists $62.8 million, so we rely on the euro figures. It invests in pre-seed companies in Denmark, Sweden and Norway and has made 19 investments since its first close.

• Stage: pre-seed
• Best for: Nordic founders at the earliest stage

6. Enzo Ventures, Fund II: €20 Million

Barcelona-based Enzo Ventures closed a €20 million second fund in October 2026 for pre-seed founders in Southern Europe, according to Tech.eu. It has invested in three startups so far. Reports say the fund is double the size of Fund I.

• Stage: pre-seed
• Best for: Southern European founders building their first product

What the List Shows

• Size: the largest fund is 36 times the smallest, by our arithmetic using the euro figures (€725 million to €20 million)
• Stage: two growth or late-stage funds, one early-to-growth fund and three pre-seed or seed funds
• Geography: three London-based, one each from Ghent, Denmark (PSV Tech, described as a Danish VC) and Barcelona
• Mix of capital: funds backed by founders and family offices (Entourage, Begin Capital) sit alongside institution-backed funds (Sprints)

For founders, smaller regional funds are often the most accessible route to a first cheque, and they usually co-invest with larger funds later.

How to Pitch a European Fund

• Match stage and region first, since many funds restrict both
• Get a warm introduction from a portfolio founder or a co-investor
• Send a short note with what you build, your traction, the round size and why this firm
• Prepare your data room, your cap table and your dilution model, including any SAFE
• Ask whether the firm expects to be lead investor and what its term sheet will include

Questions to Ask Before You Pitch

• Which fund vehicle would invest, and how much capital remains?
• Does the firm take a board seat at this stage?
• How much is reserved for follow-on rounds?
• Does it invest outside its home country, and on what terms?

What We Could Not Confirm

We could not read primary fund documents, so sizes rest on press coverage. Begin Capital's timing and PSV Tech's currency differ across sources. Check each firm's own materials before you approach it.

Browse the investor directory for more active funds, or explore active capital on AngelLinx @ angellinx.ai/register.

AngelLinx Intelligence | angellinx.ai