Monte Carlo Capital's $15M Bet on Europe's DeepTech Future

Jan de Vries · 2026-10-09

### Monaco's Monte Carlo Capital Raises $15 Million for Fund II Monte Carlo Capital (MCC) just announced a first close of $15 million for its second fund, with a target of $30 million. The Monaco-based early-stage venture firm invests at Seed in DeepTech and tech-enabled innovators. This comes after Fund I closed at over $11 million in 2025, with most LPs from that fund recommitting. Fund II has already made five investments. "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," says Ian Sosso, founder and Managing Partner. "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." ### A Surge in European DeepTech Fundraising MCC's first close comes amid a wave of fundraising by European VCs targeting DeepTech, AI, and other emerging technologies in 2026. Recent activity includes: - Munich-based Vanagon Ventures' $20 million fund for pre-Seed DeepTech and AI startups - London-based Project Ventures' $5.8 million vehicle targeting university-linked ventures - Ruya Ventures' $43 million DeepTech fund Larger vehicles include Paris-based 360 Capital's $85 million Poli360 2 fund, Berlin-based Merantix Capital's $103 million AI fund, London-based Transition Ventures' $128 million Fund II, and French VC Elaia's $134 million DeepTech Seed fund. Together, these announcements represent approximately $519 million in disclosed fund capital, rising to $532 million when including MCC's latest first close. ### Who's Behind Monte Carlo Capital? Founded in 2009 by Ian Sosso, MCC combines a lean fund with co-investment SPVs. Before launching MCC's funds, Ian built a track record as an angel investor, leading over 50 syndicates and acting as lead investor up to Series B. He is a board member of the European Business Angels Network (EBAN), which named him Best European Early-Stage Investor in 2019. Today's announcement comes three years after MCC's launch of its first fund in 2023. Fund II invests primarily at Seed, and selectively at pre-Seed and Series A, with a focus on sectors such as DeepTech, AI, SpaceTech, and enterprise software. ### Portfolio Highlights Current portfolio companies include: - StarCloud – Fastest YC company ever to reach unicorn status. Now valued at $2.3 billion. - Scout AI – Reportedly, the largest DefenceTech Series A in US history, at $400 million. ### What This Means for the Ecosystem MCC's raise is a clear signal that investor appetite for European DeepTech remains strong. With a lean fund and co-investment model, MCC is well-positioned to back the next generation of breakthrough companies. As Ian Sosso puts it, "We only invest where we see a credible path to a multi-billion-dollar outcome." For founders in DeepTech, AI, and SpaceTech, that's a promising vote of confidence.