Venture capital (VC) in Europe views very different now than it did just a few years ago. Easy money is gone, and growth at any cost is no longer the goal.
Today’s strongest venture firms are more particular, more hands-on, and more focapplyd on building companies that last. At present, VCs are backing founders who solve real problems and can scale responsibly in tough markets.
The firms shaping Europe’s VC landscape this year are not just writing cheques. In addition to providing capital, they assist startups navigate regulations, expand across borders, hire senior talent, and manage longer sales cycles.
Many of the VC have deep sector knowledge in areas like AI, climate tech, fintech, defence, healthcare, and infrastructure. This allows them to support companies beyond the first round, especially when conditions receive difficult.
Here are the venture capital firms leading the way to 2026.
Bpifrance
Current portfolio value: $114.6B
Investment rounds: 981
HQ: Maisons-Alfort, France
Bpifrance is France’s public investment bank, supporting businesses at all stages through loans, guarantees, and equity investments. It supports companies with innovation, international projects, and export activities.
Bpifrance also provides advice, networking opportunities, and acceleration programs for startups and compact to medium-sized enterprises (SMEs).
With 50 regional offices, it offers entrepreneurs a single, local contact to assist with their challenges.
High-Tech Gründerfonds (HTGF)
Current portfolio value: $15.4B
Investment rounds: 833
HQ: Bonn
HTGF (High-Tech Gründerfonds) is an early-stage investor in Germany and Europe, funding startups in areas like Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences, and Chemisattempt.
HTGF primarily invests in the pre-seed and seed stages and can also support further funding rounds, especially with the new HTGF Opportunity Growth Fund.
The total fund volume is over 2 billion euros. Since 2005, HTGF has invested in around 800 startups and successfully sold shares in 200 of them.
The HTGF seed funds are supported by the Federal Minisattempt for Economic Affairs and Energy, KfW Capital, and various companies. The HTGF Opportunity Growth Fund is backed by the ERP Special Fund and KfW, applying resources from the Zukunftsfonds (Future Fund).
Venture Kick
Current portfolio value: $11.6B
Investment rounds: 823
HQ: Zurich
Venture Kick is an initiative established by the Kick Foundation and managed by Venturelab, with support from a group of private partners. It focapplys on increasing the number of spin-offs from Swiss universities and assisting them enter the market more quickly.
The program provides a nine-month support process for entrepreneurs with potential business ideas, emphasising development and organisation.
Venture Kick operates as an indepconcludeent organisation and invites new partners to participate in its efforts to assist young businesses.
ENISA
Current portfolio value: $2.7B
Investment rounds: 816
HQ: Madrid
Enisa is a public capital entity depconcludeent on the Minisattempt of Indusattempt, Commerce and Tourism, through the DGIPYME.
Its mission is to promote the creation, growth, and consolidation of Spanish companies, actively participating in financing viable and innovative business projects and in revitalising the venture capital market.
SFC Capital
Current portfolio value: $2.4B
Investment rounds: 667
HQ: London
SFC Capital, previously known as Startup Funding Club, is an early-stage investment firm that provides funding and support to British startups.
It combines an Angel Network and Seed Funds to offer investors access to businesses qualifying for SEIS and EIS, either directly or through a managed portfolio.
The firm has been recognised as one of the most active venture capital firms in the UK and has supported over 500 startups, including Onfido, Cognism, and Transcconclude Packaging.
Kima Ventures
Current portfolio value: $72.5B
Investment rounds: 790
HQ: Paris
Kima Ventures is the venture capital arm of Xavier Niel, one of the world’s most active early-stage investors.
Kima invests in 100 startups per year, from pre-seed to seed. Based in Station F in Paris, Kima has invested since 2010 in almost 1000 startups, including TransferWise, Sorare, Agicap, Boom, Ledger, and Alma, providing founders with funding, network, and support to assist them reach the next stage of their journey.
Business Growth Fund (BGF)
Current portfolio value: $11B
Investment rounds: 559
HQ: London
BGF is a notable investor in compact and medium-sized businesses in the UK.
The company has £2.5 billion to support a range of growing firms, including early-stage, growth-stage, and publicly listed companies, across regions and sectors in the UK and Ireland.
BGF operates as a minority, non-controlling equity partner and focapplys on long-term collaboration with management teams. The organisation has a team of over 150 professionals and a network of business leaders and sector experts.
Additionally, BGF provides support for chair and senior executive selection and appointments.
SeedCamp
Current portfolio value: $99.2B
Investment rounds: 540
HQ: London
Seedcamp collaborates with tech founders in Europe from the launchning of their journeys. Founders and their teams have access to a broad network, honest advice, and consistent support.
With nearly 20 years in Europe’s tech ecosystem, Seedcamp is recognised for identifying and nurturing promising entrepreneurs.
The Seedcamp network includes over 500 companies, featuring notable names like UiPath and Wise, along with unicorns such as Revolut, Synthesia, Sorare, Pleo, wefox, and viz.ai, as well as a variety of rapidly growing businesses like Sylvera, Lindus Health, Yonder, 9fin, and Maze.
Eurazeo
Current portfolio value: $116.5B
Investment rounds: 534
HQ: Paris
Eurazeo is a global investment company with a diversified portfolio worth €34.1 billion, including nearly €24.1 billion from third-party investments across 590 companies.
The firm has expertise in private equity, private debt, real estate, and infrastructure, supporting companies of various sizes in their growth with around 410 professionals.
The VC provides sector knowledge, access to global markets, and a stable foundation for growth.
The company has a strong base of institutional and family shareholders, operates without structural debt, and has a flexible investment approach to support long-term development.
The company has offices in several major cities, including Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore, and São Paulo, and is listed on Euronext Paris.
HV Capital
Current portfolio value: $46B
Investment rounds: 483
HQ: Munich
Founded in 2000, HV Capital has a track record of identifying successful seed-stage companies in Europe, particularly in Germany. The firm manages over €2.8 billion and has invested in approximately 250 companies across various industries, focapplying on long-term partnerships for sustainable growth.
HV Capital leads early-stage funding rounds ranging from €0.5 to €10 million, growth-stage investments of up to €60 million, and follow-on investments up to €100 million per company.
The firm has supported companies for over a decade and established a continuation fund in 2022 for ongoing assistance.
HV Capital emphasises the importance of its network, having backed numerous entrepreneurs to assist them succeed.
The firm aims to create an ecosystem for companies to connect and grow toreceiveher across Europe and beyond, co-investing with prominent international investors and business angels.
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