Concept Ventures has announced that it has closed Fund II, an $88M vehicle dedicated to backing Europe’s most ambitious founders at the pre-seed stage.
This raise makes Concept the largest dedicated pre-seed fund in Europe, a milestone that reflects not only the growing importance of pre-seed as its own asset class, but also the trust placed in the firm by its portfolio founders and global LP base.
Built for, and backed by, founders
The oversubscribed vehicle was backed by Aldea Ventures, Top Tier Capital Partners, Marktlink Capital, Dominus Capital, and Granite Capital Management, with 80% of institutional investors coming from the US. More than 70% of Concept’s own portfolio founders also joined as LPs, including ElevenLabs CEO and co-founder Mati Staniszewski. The first close was completed in just three weeks.
A track record of spotting outliers early
Since launching its first institutional fund in 2022, Concept Ventures has backed over 44 companies, including:
To date, Fund I companies have collectively raised over $450M, with 100% of those that went on to fundraise successfully closing their next rounds. Fund I now ranks in the top 1% globally for its vintage.
The thesis remains simple: Outsiders backing outsiders
Concept Ventures believes pre-seed requires true specialists. Every team member comes from a non-VC background, allowing them to spot talent others overlook, ask unconventional questions, and enter markets before they become crowded.
The firm has also “open-sourced” its fundraising process, so founders know what to expect. For 90% of the founders backed, Concept represents their first VC conversation—a responsibility the firm takes seriously.
Looking ahead: What Fund II means
With Fund II, Concept Ventures will back up to 50 companies across the UK and Europe, writing checks of up to $1.5M. While sector-agnostic, the firm maintains a sharp focus on exceptional people with global ambitions.
Fund II represents not just more capital, but a doubling down on the people-first approach that has defined Concept since day one. The firm aims to be the first “yes” for Europe’s most ambitious founders, supporting those with a concept and the conviction to see it through.
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