TLDR:
- Belgian VC firm Pitchdrive raises €40M in third fund to support early-stage startups in Europe
- The fund will back 30 European startups over the next two years, with a focus on pre-seed funding
Belgian VC firm Pitchdrive has raised a €40M fund to support early-stage startups in Europe. The fund exceeded its initial size by 30% due to high interest from LPs. Previous funds managed by Pitchdrive performed well, leading to oversubscription of the third fund. The fund will be capped at €40M and exclusively accepts investments from entrepreneurs and family offices. Pitchdrive aims to support 30 European startups over the next two years, leveraging a new mentor network of successful European entrepreneurs for guidance.
Pitchdrive invests in pre-seed rounds in Europe and provides personalized support to its portfolio of startups. The firm’s approach has yielded success, with 70% of its invested startups securing additional funding within 2 years. With an active portfolio in 11 countries, Pitchdrive focuses on supporting early-stage companies across Europe and has already invested in over 50 startups, including Belgian, UK, Dutch, German, and Turkish-based companies.
