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The following article has been written in the scope of the research process for our exclusive EU venture capital fund list. You might also like the list of the 300 largest European single family offices investing in venture capital, provided by our partner portal familyofficehub.io.
The venture capital landscape in 2025 has seen significant investment activity so far, with major funds being closed across different sectors. From sustainability to blockchain, investors are betting big on the future of technology and innovation. In the following, we present the 8 largest deals:
List of the 8 largest VC fund closings in Europe in 2025
| Ranking | VC Firm | Investment Amount | Focus Area | Location |
|---|---|---|---|---|
| 1 | Cherry Ventures | $500M | Early-stage tech startups | Berlin, London, Stockholm |
| 2 | Smartfin | €250M | B2B technology scale-ups | Brussels, Belgium |
| 3 | Natural Ventures | €97M | Water & food security startups | Abu Dhabi, The Hague |
| 4 | Capricorn Partners | €51M | Healthcare startups | Leuven, Belgium |
| 5 | Superhero Capital | €50M | Early-stage software startups | Helsinki, Finland |
| 6 | 4elements | €27.4M | Climate change startups | Le Bourget-du-Lac, France |
| 7 | 33East | €26M | Pre-seed and seed-stage startups | Cyprus |
| 8 | AgileGTM Blockchain Fund | $10M | B2B blockchain startups | Europe (HQ in British Virgin Islands) |
About the included funds
One of the most notable fund closings this year comes from Cherry Ventures, which secured a staggering $500 million. The firm continues its commitment to backing early-stage European startups, with a focus on high-growth potential companies. Following closely, Belgium-based Smartfin Capital III raised €250 million, doubling down on its investments in B2B technology scale-ups across Europe.
Another significant player in this year’s VC fund closings is Capricorn Partners, which closed its Capricorn Health-tech Fund II at €51 million. With a clear focus on digital health, diagnostics, and medical technology, the firm aims to foster transformative healthcare solutions. Meanwhile, Superhero Capital added €50 million to its war chest to support early-stage software startups across Finland and the Baltics, reinforcing the region’s growing reputation as a tech hub.
Climate-conscious investing also remains strong, as 4elements secured €27.4 million to finance startups dedicated to fighting climate change. Their venture studio model enables them to co-build and accelerate impactful businesses in clean energy, sustainable food, and decarbonization. Similarly, 33East, a Cyprus-based VC firm, raised €26 million to stimulate early-stage innovation within the country’s growing tech ecosystem.
Impact-driven investment is also on the rise, as evidenced by Natural Ventures’ €97 million fund closing. The firm is dedicated to tackling global food and water security challenges by investing in proven and scalable technologies that promote sustainability. On the blockchain front, AgileGTM Blockchain Fund raised $10 million to support early-stage B2B startups utilizing blockchain technology beyond cryptocurrency speculation.
These fund closings indicate a strong momentum in venture capital, with a particular emphasis on technology, sustainability, and impact-driven investments. As the year progresses, it will be interesting to see how these funds shape the startup ecosystem and drive innovation in their respective industries.
Picture source: Arnaud Mariat, Unsplash+ (19.02.2025)
