We’ve raised $115m to back and scale the best early-stage startups in Europe

The landscape of venture capital is rapidly transforming, and our new fund puts us at the forefront of this change.

We’ve raised $115m to back and scale the best early-stage startups in Europe

We’re delighted to announce that we’ve raised $115 million to support and scale the most promising early-stage startups in Europe.

With this new fund, we’re also continuing our mission to integrate state-of-the-art technology across the full VC value chain. We believe this will usher in a transformative era in venture capital – one that merges artificial intelligence and machine efficiency with the unique capabilities of human insight and decision-making. The age of the 10x VC.

This approach is all the more vital now, as this new wave of AI revolutionises the startup opportunity for founders and redefines how tech companies are built.

Pioneering a new era in venture capital

Since founding Moonfire, we’ve strived to be more than just a VC firm. Our vision has always been to establish a new sort of quantitative venture capital. We've built a custom tech stack from the ground up, integrating cutting-edge AI models and software throughout our operations, from founder discovery to exit.

Our approach is symbiotic: AI assists us in making better decisions, faster, while we – the human investors and engineers – can continuously tune the AI, adapting to our actions, as well as shifting trends and market dynamics. It makes us more efficient investors, and able to foster deeper and more fruitful relationships with our founders.

Having this technical expertise in-house, combined with our team’s operational experience, is an asset for our founders. They have a partner who can help them navigate their complex technical challenges, from traditional areas like hiring and fundraising, to leveraging AI and machine learning.

‘Moonfire are a hugely talented team – London’s finest. They were the obvious choice for us for their early conviction and belief in our mission. They led our pre-seed round in 2021, and Mike was instrumental in helping us find our CTO. We couldn’t have done it without them!’ – Javier Suarez, CEO of Oliva

The next level

Our first fund demonstrated the efficacy of our approach, and we’re now ready to take it to the next stage with Fund II. We now review up to 50,000 companies every week – 600 times more than the average traditional VC – to identify the finest founding teams in Europe using AI, Web3, and AR/VR to disrupt health, work, finance, and gaming.

Our AI-first approach extends to the company evaluation process as well, where our AI identifies companies and founders that align with our thesis. The result is a more inclusive venture capital, capable of discovering overlooked talent early, more frequently, and with greater accuracy.

A testament to this approach is our investment is LiveFlow. After sourcing them through our AI engine, we helped the team build a recruitment funnel, enabling them to hire a great CTO, and then went on to lead their $3.5m Seed round, at more than double their Pre-Seed valuation.

‘They’ve been more than an investor; they’ve really helped us innovate and grow as a company.’ – Lasse Kalkar, CEO of LiveFlow

Moonfire, part II

To date, we have invested in close to 50 companies where we have had follow-ons from and co-invested with Sequoia, Accel, Index and General Catalyst. We’ve had some notable successes from our first fund, including Humaans' recent $15m Series A, Lightdash completing a $7m round led by Accel, and GOALS closing a $20m Series A with Seven Seven Six. That’s why, in addition to our $90m Fund II, we’ve raised a $25m Opportunity Fund to double down on the winners.

‘Mattias is both an investor with big ambitions and a builder. If you are just getting started, you want to partner with Moonfire. They opened up a world of incredible angels for our Seed round, and I’m grateful for the ongoing support we're getting as we build Humaans to be the most prominent HR player in Europe and beyond.’ - Giovanni Luperti, CEO of Humaans

As we embark on the next part of our journey with Fund II, our commitment to turning the venture capital industry on its head has never been stronger. With AI at the core, handling the heavy-lifting of identifying promising startups, we can dedicate our time and expertise to what we excel at – forging and nurturing relationships with founders.

Europe has always been a leader in AI, and we believe our best contribution is to support the next generation of founders who are tackling some of our greatest challenges within health, work, finance, and gaming. The AI-first, 10x VC is here, and it's set to redefine the future of venture capital.