22 New European VC Funds Launched in September 2026

Twenty-two new European venture capital funds were announced in September 2026, with roughly €1.6 billion in committed capital between them. Eighteen invest at seed and fourteen at pre-seed, which makes this a useful month for any founder building an early-stage investor list.

The headline hides a split, though. Most of the funds are small and early. Most of the money is not. Two growth vehicles account for about 41% of the capital, while the twelve smallest funds combined are smaller than the single largest one.

This breakdown covers where the new capital sits by country, stage and fund size, how to read the reported figures, and what it means if you are raising or investing in Europe.

Key takeaways

• 22 new European VC funds were announced in September 2026, with about €1.6B in committed capital.
• The UK leads with 8 funds and about €944M, roughly 59% of the month's capital. Ten countries are represented.
• Seed is the most common stage (18 funds), followed by pre-seed (14), Series A (9), Series B (5), growth (3) and Series C (1).
• 19 of the 22 funds invest at pre-seed or seed. The three that do not hold more than 40% of the capital.
• The median fund is €45.5M, and 12 of the 22 are under €50M.
• Half the list (11 funds) reported an interim figure: a first or second close, an anchor or institutional commitment, or a target. These are not final fund sizes.
• The month's themes are AI, DeepTech, Energy and a return of EdTech.

European VC funds in September 2026: the numbers at a glance

September 2026 produced 22 new European VC funds from 10 countries, with about €1.6B committed and a clear tilt toward seed.

A note on the total. The 21 funds with closed or committed capital add up to €1.596B. The 22nd, Final Frontier Fund II, is listed with a €100M target rather than committed money, so it sits outside the €1.6B figure. Percentages in this article use the €1.6B base. Figures originally reported in dollars or pounds are shown in euros as listed.

Which countries launched the most new VC funds?

The UK launched the most, with 8 of the 22 funds. Italy followed with 3, and France, Denmark and Germany had 2 each. Romania, Luxembourg, Serbia, Belgium and Finland each had one.

*Includes Final Frontier Fund II's €100M target.

The UK leads on both count and capital

The UK accounts for 36% of the funds but about 59% of the capital. That gap comes from two vehicles. Intrepid Growth Partners Fund I (€455M) and the Molten Ventures Growth Fund (€201M at first close) together make up €656M, roughly 70% of the UK total.

Take those two out and the picture still holds. The remaining six UK funds total €287.5M, which is more than any other country on the list.

Italy, the Nordics and the rest of the continent

Italy is second by fund count, with three funds and €103M. Two of the three carry Lazio in their names: Eureka! Fund II Deep Tech Lazio and Primo Biotech Lazio.

Denmark and Finland add three funds between them. Seed Capital Fund V (€130M) and Nordic Foodtech VC Fund II (about €70M) are the committed ones, with Final Frontier Fund II targeting €100M.

The list also reaches beyond the usual hubs. Romania's Asternova Centru (€8M) and Serbia's Forty.5 Ventures Fund I (€26M) are both early-stage funds, adding €34M of new capital in Southeast Europe.

Which stages are the new funds targeting?

Seed is the most common stage, listed by 18 of the 22 funds. Pre-seed is second with 14. Interest thins out quickly after that.

Most funds cover more than one stage, so the counts add up to more than 22.

Seed and pre-seed dominate by count

Nineteen of the 22 funds invest at pre-seed, seed or both. Eleven of them do nothing else, including Crane III (€146M), Connect Ventures Fund V (€48M at first close) and Nordic Foodtech VC Fund II (about €70M).

Two funds are narrower still. The Zinc Science-for-Impact Fund lists pre-seed only, and Techshop II lists seed only.

Four funds can follow a company from pre-seed through Series A: Brighteye Ventures Fund III, Forty.5 Ventures Fund I, VORNvc and Sofinnova MD Start IV, which also extends to Series B.

Later-stage money sits in very few hands

Only three funds skip pre-seed and seed altogether:

• Intrepid Growth Partners Fund I: €455M, Series B to growth
• Molten Ventures Growth Fund: €201M at first close, Series B and growth
• Bramble Partners Fund I: €23M anchor commitment, Series A to growth

Together they hold €679M, about 43% of the month's capital. All three are UK-based, and they are the only funds on the list that name growth as a stage.

Series C appears once, at Intrepid. Series B appears five times, and every one of those funds is based in the UK or France.

How big are the new funds?

The typical new European fund in September was small. The median reported size is €45.5M, and 12 of the 22 funds came in under €50M.

The distribution is heavily skewed. The 12 funds under €50M total €296.5M between them, less than Intrepid Growth Partners Fund I alone at €455M. The top two funds account for about 41% of the month's €1.6B.

That skew is why the average, at roughly €77M per fund, says little about what a founder will actually meet. The median is the better guide.

One caution on the smallest band. Bramble Partners, Educapital, ERV and Eureka! are all listed with partial figures, such as an anchor commitment or a first close, so they may not stay in it.

Which sectors are the new funds backing?

Four themes stand out for the month: AI, DeepTech, Energy and EdTech, with EdTech flagged as making a comeback.

The fund list does not give a sector for each vehicle, so the names are the only confirmation available here. They support the specialist picture clearly:

• DeepTech: Eureka! Fund II Deep Tech Lazio (€20M at first close) and the Uplift Ventures DeepTech Fund (€100M), €120M between them.
• Education: Educapital III (€20M commitment from the European Investment Fund) and NewSchool VC Fund I (€10M final close).
• Science and life sciences: Primo Biotech Lazio (€40M) and the Zinc Science-for-Impact Fund (€53M commitment from the British Business Bank).
• Food: Nordic Foodtech VC Fund II (about €70M).

That is seven of the 22 funds declaring a focus in the name alone. For a founder in one of those sectors, a specialist fund is often a faster conversation than a generalist one, because the thesis is already written.

AI and Energy are named as themes for the month, but no fund on the list carries either word in its name. Check each firm's published thesis before assuming a fit.

Why €1.6B committed is not the final number

Eleven of the 22 funds reported an interim figure, so the month's total is a snapshot of money committed so far, not a tally of finished funds.

What the labels mean

• First close: the fund has secured an initial tranche of commitments and is typically still raising. The six first closes here total €386.1M.
• Anchor or institutional commitment: a single investor's pledge to the fund, not the fund's full size.
• Target: what the manager aims to raise. It is not committed capital.
• Final close: fundraising is finished. NewSchool VC Fund I is the only fund on the list marked this way.

Public institutions are visible

Two figures on the list are commitments from public investors. The European Investment Fund is behind the €20M reported for Educapital III, and the British Business Bank is behind the €53M reported for the Zinc Science-for-Impact Fund.

The full list: all 22 new European VC funds from September 2026

Every fund announced in the month, in alphabetical order, with its reported size, stage focus and website.

What this means for founders

A new fund has fresh capital to deploy, which makes this list a practical starting point for an investor shortlist. How useful it is depends on your stage.

If you are raising pre-seed or seed

You have the widest choice. Nineteen funds invest at these stages, across all ten countries on the list.

Fund size matters as much as stage label, though. Project Ventures Fund I (€5.8M) and Crane III (€146M) both list pre-seed and seed, but funds that far apart in size are unlikely to be writing the same cheque. Look at each firm's stated ticket size before you pitch.

If you are raising Series A or later

The pool narrows quickly. Nine funds list Series A, five list Series B, and one lists Series C.

Geography narrows with it. Every fund that lists Series B is in the UK or France, and all three growth-stage funds are in the UK.

If you are building in a specialist sector

Seven funds name their focus outright: deep tech, education, biotech and science, and food. If your company fits one of them, start there.

A three-step way to use the list

1. Filter by stage first. A fund that does not invest at your stage is not a lead.
2. Check the close status. A fund at first close or with a single anchor commitment is still raising, so ask where it is in its own fundraise.
3. Read the firm's site for thesis and geography. The list gives you stage and size, not sector or cheque size.

What this means for investors

First-time funds are getting raised

Five vehicles are labelled Fund I, and they range from €5.8M to €455M: Project Ventures, NewSchool VC, Bramble Partners, Forty.5 Ventures and Intrepid Growth Partners.

Established managers are back in market

Several firms are on a third fund or later: Connect Ventures Fund V, Seed Capital Fund V, Sofinnova MD Start IV, Crane III, Brighteye Ventures Fund III and Educapital III.

Seed is crowded, later stages are not

Eighteen new funds will be competing for seed deals. Only three list growth. For co-investors and LPs, that is the clearest structural signal in the month's data: new European capital is plentiful at the start of a company's life and concentrated in a handful of vehicles after Series B.

Frequently asked questions

How many new European VC funds launched in September 2026?

Twenty-two new European VC funds were announced in September 2026, with about €1.6B in committed capital. They come from ten countries.

Which country launched the most new VC funds?

The UK, with 8 of the 22 funds and about €944M of the capital. Italy had 3 funds, and France, Denmark and Germany had 2 each. Romania, Luxembourg, Serbia, Belgium and Finland had one each.

What was the largest new European VC fund in September 2026?

Intrepid Growth Partners Fund I, at €455M ($525M), investing from Series B to growth. The Molten Ventures Growth Fund was next at €201M at first close, followed by Crane III at €146M ($169M).

Which stages do the new funds invest in?

Seed is the most common, listed by 18 funds. Pre-seed is listed by 14, Series A by 9, Series B by 5, growth by 3 and Series C by 1. Most funds cover more than one stage.

Which of the new funds invest at pre-seed?

Fourteen: Asternova Centru, Brighteye Ventures Fund III, Connect Ventures Fund V, Crane III, Eureka! Fund II Deep Tech Lazio, Final Frontier Fund II, Forty.5 Ventures Fund I, NewSchool VC Fund I, Nordic Foodtech VC Fund II, Primo Biotech Lazio, Project Ventures Fund I, Sofinnova MD Start IV, VORNvc and the Zinc Science-for-Impact Fund.

What sectors are the new European funds focused on?

The month's themes are AI, DeepTech, Energy and EdTech. Seven funds name a focus directly, covering deep tech, education, biotech and science, and food technology.

Is €1.6B the final size of these funds?

No. Eleven of the 22 funds reported an interim figure such as a first close, a second close, an anchor commitment or a target. Only one, NewSchool VC Fund I, is marked as a final close.

What is a first close in venture capital?

A first close is the point at which a fund has secured an initial tranche of investor commitments. The manager typically continues raising toward a final close afterwards. Six funds on the September list reported a first close, totalling €386.1M.

Which of the new funds are first-time funds?

Five are labelled Fund I: Bramble Partners, Forty.5 Ventures, Intrepid Growth Partners, NewSchool VC and Project Ventures.

How should founders use a list of new VC funds?

Filter by stage first, then check whether the fund has finished raising, then read the firm's own site for sector thesis and cheque size. The list gives stage and size, not sector or ticket.