Monte Carlo Capital (MCC), a Monaco-based venture firm, has raised €13 million ($15 million) in the first close of its second fund, targeting a total of €26 million ($30 million). The fund will focus on early-stage investments in DeepTech, AI, and SpaceTech.
TL;DR
- Monte Carlo Capital raises €13 million in first close for Fund II, targeting €26 million total.
- Fund II will invest primarily at the Seed stage, with a focus on DeepTech, AI, and SpaceTech.
- MCC's portfolio includes StarCloud, the fastest Y Combinator company to reach unicorn status, and Scout AI, reportedly the largest DefenceTech Series A in US history.
What happened
Monte Carlo Capital (MCC) has announced a €13 million ($15 million) first close for its second fund, with a target of €26 million ($30 million). The fund follows the success of Fund I, which closed at over €11 million in 2025, according to EU-Startups. Most of Fund I's limited partners (LPs) have recommitted to Fund II, which has already made five investments.
Ian Sosso, founder and Managing Partner of MCC, stated, 'Reaching a $15 million first close on Fund II is a strong vote of confidence from our investors. We have already put that capital to work in five companies. Our approach is to get onto outstanding cap tables early, invest alongside the world's leading VCs, and keep backing our best companies as they scale through our SPVs.'
Why it matters
This fundraising comes amid a wave of venture capital activity in Europe targeting DeepTech, AI, and other emerging technologies. MCC's Fund II will invest primarily at the Seed stage, with selective investments at pre-Seed and Series A. The fund's focus on AI and DeepTech positions it to back innovative startups in these high-growth sectors.
For developers and startup founders, MCC's investment strategy could provide valuable early-stage funding and support. For investors, the fund's focus on sectors with a 'credible path to a multi-billion-dollar outcome' offers the potential for significant returns. However, the competitive landscape, with several other European VCs raising large funds for similar sectors, may pose challenges in identifying and securing the most promising investments.
Key facts
- Monte Carlo Capital raises €13 million in first close for Fund II, targeting €26 million total.
- Fund II has already made five investments.
- MCC's portfolio includes StarCloud, valued at €2 billion ($2.3 billion), and Scout AI, with a reported €357 million ($400 million) Series A round.
- Fund II will focus on DeepTech, AI, SpaceTech, and enterprise software.
- Ian Sosso, founder of MCC, is a board member of the European Business Angels Network (EBAN) and was named Best European Early-Stage Investor in 2019.
- MCC combines a lean fund with co-investment SPVs.
- Recent European venture capital fundraising includes Munich-based Vanagon Ventures' €20 million fund, London-based Project Ventures' €5.8 million vehicle, and Ruya Ventures' €43 million DeepTech fund.
- Together, these announcements represent approximately €532 million in disclosed fund capital, including MCC's latest first close.
Context
Monte Carlo Capital was founded in 2009 by Ian Sosso, who built a track record as an angel investor before launching MCC's funds. The firm combines a lean fund structure with co-investment special purpose vehicles (SPVs), allowing it to invest in and support startups from early stages through Series B.
The current fundraising wave in European venture capital reflects the growing interest and investment in AI, DeepTech, and other emerging technologies. As these sectors continue to evolve, the availability of early-stage capital will be crucial for startups looking to scale and innovate.
For developers and startup founders, the availability of funds like MCC's Fund II can provide the necessary resources to bring innovative ideas to market. For investors, these funds offer the potential for significant returns, but also come with the risks and challenges of investing in early-stage technologies.
