--- title: "Top VC Funds Raised in Europe in November 2025" lang: en canonical_url: https://www.papermark.com/blog/vc-funds-raised-europe-november-2025 last_updated: 2025-12-26 published: 2025-12-19 category: [investors] author: "Marc Seitz" summary: "A comprehensive list of European VC funds that successfully closed capital in November 2025, including fund sizes, focus areas, and key team members across 10 major funds." --- # Top VC Funds Raised in Europe in November 2025 This article highlights the **top venture capital funds in Europe that successfully closed capital in November 2025**. November proved to be an active month for European VC fundraising, with significant closes across diverse sectors including biotechnology, energy, food innovation, defense technology, and social impact. For each fund, you'll find the amount raised, focus areas, key team members, and official websites when available. ## Quick list of top VC funds raised in Europe in November 2025 - **[Forbion](https://www.forbion.com) – €200M raised**: Bioeconomy and industrial biotechnology fund based in Naarden, Netherlands - **[Future Energy Ventures](https://www.futureenergyventures.com) – €235M raised**: Digital energy and grid technologies fund based in Berlin, Germany - **[Balnord](https://www.balnord.com) – €70M+ raised**: Frontier technology and dual-use innovation fund based in Luxembourg/Gdańsk - **[Oyster Bay Venture Capital](https://www.oysterbay.vc) – €100M+ raised**: Food innovation production fund based in Hamburg, Germany - **[Unconventional Ventures](https://www.unconventional.vc) – €52M+ raised**: Fund backing underrepresented founders in tech, based in Copenhagen/Stockholm - **[Ship2B Ventures](https://www.ship2bventures.com) – €65M raised**: Social impact investment fund based in Barcelona, Spain - **[United Founders](https://www.unitedfounders.vc) – €30M+ raised**: Frontier tech startups fund based in Prague/Pan-EU - **[Keen Venture Partners](https://www.keenventurepartners.com) – €150M+ raised**: Defense and security innovation fund based in Amsterdam/London - **[Indico Capital Partners](https://www.indico.capital) – €125M target**: Deeptech and software fund in Southern Europe based in Lisbon, Portugal - **[Day One Capital](https://www.dayonecapital.com) – €45M raised**: B2B technology fund based in Budapest, Hungary ## 🇳🇱 VC Funds raised in Netherlands ### [Forbion](https://www.forbion.com) – €200M Fund I (Final Close) **[Forbion](https://www.forbion.com)** successfully closed its first fund at €200 million, focusing on bioeconomy and industrial biotechnology. Based in Naarden, the fund is led by Alexander Hoffmann, Joy Faucher, and Sander Slootweg. This substantial close positions Forbion as a significant player in the European biotech investment landscape. ### [Keen Venture Partners](https://www.keenventurepartners.com) – €150M+ Fund I (First Close) **[Keen Venture Partners](https://www.keenventurepartners.com)** achieved a first close of over €150 million for its inaugural fund, specializing in defense and security innovation across Europe. Operating from both Amsterdam and London, the fund is managed by Ben Verwaayen, Alexander Ribbink, Robert Verwaayen, Briehan Burke, and Giuseppe Lacerenza. This represents one of the largest defense-focused VC funds in Europe. ## 🇩🇪 VC Funds raised in Germany ### [Future Energy Ventures](https://www.futureenergyventures.com) – €235M Fund II (First/Final Close Mix) **[Future Energy Ventures](https://www.futureenergyventures.com)** secured €235 million for its second fund, combining first and final closes. The Berlin-based firm focuses on digital energy and grid technologies, addressing critical infrastructure needs in the energy transition. The fund is led by Jan Lozek, Veronique Hördemann, and Jan Palasinski. ### [Oyster Bay Venture Capital](https://www.oysterbay.vc) – €100M+ Fund II (Final Close) **[Oyster Bay Venture Capital](https://www.oysterbay.vc)** finalized its second fund at over €100 million, dedicated to food innovation and production. Based in Hamburg, the fund is managed by Christoph Miller and Felix Leonhardt. This close strengthens the firm's position in the European foodtech investment ecosystem. ## 🇱🇺 VC Funds raised in Luxembourg ### [Balnord](https://www.balnord.com) – €70M+ Fund I (First Close) **[Balnord](https://www.balnord.com)** achieved a first close of over €70 million for its inaugural fund, focusing on frontier technology and dual-use innovation. Operating from both Luxembourg and Gdańsk, Poland, the fund is managed by Marcin P. Kowalik and Aleksander Dobrzyniecki. This represents a significant commitment to cutting-edge technology investments in Central Europe. ## 🇩🇰🇸🇪 VC Funds raised in Denmark/Sweden ### [Unconventional Ventures](https://www.unconventional.vc) – €52M+ Fund II (First Close) **[Unconventional Ventures](https://www.unconventional.vc)** reached a first close of over €52 million for its second fund, with a mission to back underrepresented founders in tech. Operating from both Copenhagen and Stockholm, the fund is led by Thea Messel, Nora Bavey, and Alexis Horowitz-Burdick. This fund addresses the critical need for more diverse representation in European tech funding. ## 🇪🇸 VC Funds raised in Spain ### [Ship2B Ventures](https://www.ship2bventures.com) – €65M Fund II (First Close) **[Ship2B Ventures](https://www.ship2bventures.com)** achieved a first close of €65 million for its second fund, with a target of €80 million. The Barcelona-based firm focuses on social impact investment, supporting startups that create positive societal change. The fund is managed by Xavi Pont Martin, Maite Fibla Gasparin, PhD, and Daniel Sanchez. ## 🇨🇿 VC Funds raised in Czech Republic ### [United Founders](https://www.unitedfounders.vc) – €30M+ Fund I (First Close) **[United Founders](https://www.unitedfounders.vc)** secured over €30 million in the first close of its inaugural fund, with a target of €80 million. The fund backs frontier tech startups across Europe, operating from Prague with a pan-European focus. The fund is led by Vit Horky and Jakub Havrlant, bringing deep expertise in Central and Eastern European tech ecosystems. ## 🇵🇹 VC Funds raised in Portugal ### [Indico Capital Partners](https://www.indico.capital) – €125M Fund III (Target) **[Indico Capital Partners](https://www.indico.capital)** set a target of €125 million for its third fund, focusing on deeptech and software investments in Southern Europe. Based in Lisbon, the fund is managed by Stephan de Moraes, Ricardo Torgal, and Cristina Fonseca. This fund strengthens Indico's position as a leading VC in the Portuguese and Southern European tech scene. ## 🇭🇺 VC Funds raised in Hungary ### [Day One Capital](https://www.dayonecapital.com) – €45M Fund III (Second Close) **[Day One Capital](https://www.dayonecapital.com)** reached a second close of €45 million for its third fund, with a target of €60 million. The Budapest-based firm specializes in B2B technology investments, supporting startups across Central and Eastern Europe. The fund is managed by Elek Straub, Gyorgy Simo, and Csaba Kakosy. ## How to get yes from these November 2025 VC funds? There is no guarantee these VC funds or any other will say yes, and the chances are low, on average 1/100 will invest. The best you can do is to capture interest as soon as possible or get **no** and move on. How? Share your pitch deck as a link **not as an attachment** and get insights if investors are interested. 1. Get notified when investors view your deck 2. Track how long they were on each page 3. Capture emails of investors who viewed your deck 4. Protect your IP using watermark, screenshot protection 5. Securely send data room with multiple documents ## Did not find the right investor for you? Check our open investors and VC funds database with 7k+ VC funds listed. Search investors ■ by sector ■ by stage ■ by location ■ by name ## Conclusion November 2025 proved to be an exceptionally active month for European VC fundraising, with **10 major funds closing over €1.1 billion in combined capital**. From [Forbion](https://www.forbion.com)'s €200M biotech fund to [Keen Venture Partners](https://www.keenventurepartners.com)' €150M+ defense innovation fund, these raises demonstrate the depth and diversity of Europe's investment landscape. The variety of sectors represented—from biotechnology and energy to food innovation, defense technology, and social impact—reflects Europe's broad innovation ecosystem. Funds like Unconventional Ventures addressing diversity in tech funding and Ship2B Ventures focusing on social impact show the evolving priorities of European investors. For founders looking to raise capital, these recently funded VCs represent active capital ready to deploy. The combination of substantial fund sizes and specific sector expertise makes them valuable partners for startups aligned with their investment theses. Make your fundraising more effective 👇 --- _Markdown version of [this article](https://www.papermark.com/blog/vc-funds-raised-europe-november-2025) for AI agents and LLMs._ _More Papermark content: [llms.txt](https://www.papermark.com/llms.txt) · [full index](https://www.papermark.com/llms-full.txt)._