Key Takeaways
- • Monte Carlo Capital (MCC), a Monaco-based early-stage venture firm, announced a €13 million ($15 million) first close of Fund II, against a target of €26 million ($30 million).
- • Fund II has already made five investments, and most Fund I limited partners have recommitted, according to EU-Startups.
- • Fund II invests primarily at Seed and selectively at pre-Seed and Series A, with focus on DeepTech, AI, SpaceTech and enterprise software.
- • Founder and Managing Partner Ian Sosso says MCC only invests where it sees a credible path to a multi-billion-dollar outcome.
- • The raise adds to roughly €532 million in disclosed European fund capital across the recent wave of DeepTech and AI-focused vehicles.
Summary
Monte Carlo Capital (MCC), a Monaco-based early-stage venture firm that invests at Seed in DeepTech and tech-enabled companies, has announced a €13 million ($15 million) first close of its second fund, Fund II, against a target of €26 million ($30 million). According to EU-Startups, the close follows Fund I, which closed at over €11 million in 2025, and most Fund I limited partners have recommitted to the new vehicle. The announcement comes three years after MCC launched its first fund in 2023.
Fund II has already deployed capital into five companies. The fund invests primarily at Seed, selectively at pre-Seed and Series A, and focuses on DeepTech, AI, SpaceTech and enterprise software. Founder and Managing Partner Ian Sosso said the strategy is unchanged: secure positions early on high-quality cap tables, invest alongside leading venture firms, and continue supporting top companies as they scale through MCC's co-investment SPVs. He added that the firm only invests where it sees a credible path to a multi-billion-dollar outcome.
MCC is described as a lean fund paired with co-investment SPVs. Sosso, who founded the firm in 2009, built a track record as an angel investor, leading more than 50 syndicates and acting as lead investor up to Series B. He sits on the board of the European Business Angels Network (EBAN), which named him Best European Early-Stage Investor in 2019. Current portfolio highlights cited by the firm include StarCloud, described as the fastest YC company ever to reach unicorn status and now valued at €2 billion ($2.3 billion), and Scout AI, reportedly the largest DefenceTech Series A in US history at €357 million ($400 million).
The raise is part of a broader wave of European venture fundraising in DeepTech and AI. EU-Startups places the announcement within recent fund activity including Vanagon Ventures' €20 million pre-Seed fund, Project Ventures' €5.8 million vehicle, Ruya Ventures' €43 million DeepTech fund, 360 Capital's €85 million Poli360 2, Merantix Capital's €103 million AI fund, Transition Ventures' €128 million Fund II and Elaia's €134 million DeepTech Seed fund. Together these total approximately €519 million, or €532 million including MCC's first close.
Fund II has already deployed capital into five companies. The fund invests primarily at Seed, selectively at pre-Seed and Series A, and focuses on DeepTech, AI, SpaceTech and enterprise software. Founder and Managing Partner Ian Sosso said the strategy is unchanged: secure positions early on high-quality cap tables, invest alongside leading venture firms, and continue supporting top companies as they scale through MCC's co-investment SPVs. He added that the firm only invests where it sees a credible path to a multi-billion-dollar outcome.
MCC is described as a lean fund paired with co-investment SPVs. Sosso, who founded the firm in 2009, built a track record as an angel investor, leading more than 50 syndicates and acting as lead investor up to Series B. He sits on the board of the European Business Angels Network (EBAN), which named him Best European Early-Stage Investor in 2019. Current portfolio highlights cited by the firm include StarCloud, described as the fastest YC company ever to reach unicorn status and now valued at €2 billion ($2.3 billion), and Scout AI, reportedly the largest DefenceTech Series A in US history at €357 million ($400 million).
The raise is part of a broader wave of European venture fundraising in DeepTech and AI. EU-Startups places the announcement within recent fund activity including Vanagon Ventures' €20 million pre-Seed fund, Project Ventures' €5.8 million vehicle, Ruya Ventures' €43 million DeepTech fund, 360 Capital's €85 million Poli360 2, Merantix Capital's €103 million AI fund, Transition Ventures' €128 million Fund II and Elaia's €134 million DeepTech Seed fund. Together these total approximately €519 million, or €532 million including MCC's first close.
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