Monte Carlo Capital's $15M Bet on DeepTech, AI, and SpaceTech

Jan de Vries · 2026-10-09

Monte Carlo Capital (MCC) just made a move that's worth paying attention to. The Monaco-based venture firm announced a first close of €13 million ($15 million) for its Fund II, with a target of €26 million ($30 million). That's a serious vote of confidence for a fund that only closed its predecessor in 2025. ### Why This Matters for Early-Stage DeepTech MCC isn't your typical venture fund. They invest at the Seed stage in DeepTech and tech-enabled innovators, but they do it with a twist: a lean fund combined with co-investment SPVs. That means they can write bigger checks when needed without carrying a bloated fund size. Ian Sosso, founder and Managing Partner, put it simply: "Reaching a $15 million first close on Fund II is a strong vote of confidence from our investors, and we have already put that capital to work in five companies." He added: "Our approach hasn't changed: get onto outstanding cap tables early, invest alongside the world's leading VCs, and keep backing our best companies as they scale through our SPVs. We only invest where we see a credible path to a multi-billion-dollar outcome." That's a clear philosophy. And it's already paying off. Most Fund I LPs have recommitted, and Fund II has made five investments. ### The Bigger Picture: European VC Is Heating Up MCC's news comes amid a wave of fundraising activity among European venture capital firms targeting DeepTech, AI, and other emerging technologies in 2026. Here's a quick rundown of recent funds: - Munich-based Vanagon Ventures: €20 million for pre-Seed DeepTech and AI startups - London-based Project Ventures: €5.8 million for university-linked ventures - Ruya Ventures: €43 million DeepTech fund - Paris-based 360 Capital: €85 million Poli360 2 fund - Berlin-based Merantix Capital: €103 million AI fund - London-based Transition Ventures: €128 million Fund II - French VC Elaia: €134 million DeepTech Seed fund Together, these announcements represent approximately €519 million in disclosed fund capital. Add MCC's latest first close, and that number jumps to €532 million. That's not pocket change. ### A Track Record Built on Angel Investing Monte Carlo Capital was founded in 2009 by Ian Sosso. But before launching MCC's funds, he built a serious track record as an angel investor. He led over 50 syndicates and acted as lead investor up to Series B. He's also a board member of the European Business Angels Network (EBAN), which named him Best European Early-Stage Investor in 2019. That kind of experience matters. It means MCC isn't just writing checks—they're getting in early and staying involved. ### What's in the Portfolio? Fund II invests primarily at Seed, and selectively at pre-Seed and Series A. The focus is on DeepTech, AI, SpaceTech, and enterprise software. Current portfolio companies include: - StarCloud: The fastest YC company ever to reach unicorn status, now valued at €2 billion ($2.3 billion). - Scout AI: Reportedly the largest DefenceTech Series A in US history, at €357 million ($400 million). Those are impressive outcomes. And they show that MCC's strategy of backing bold, early-stage companies can pay off big. ### The Takeaway If you're watching the European startup scene, Monte Carlo Capital is a name to remember. Their Fund II first close is a signal that smart money is still flowing into DeepTech, AI, and SpaceTech. And with a target of €26 million, they're just getting started. For founders and investors alike, this is a reminder: the next big thing often starts small. And sometimes, it starts in Monaco.