Monte Carlo Capital's $15M Fund II: A DeepTech Bet That's Already Paying Off

Jan de Vries · 2026-10-09

Monte Carlo Capital just made a move that should catch your attention if you follow early-stage DeepTech. The Monaco-based venture firm announced a first close of $15 million for its Fund II, with a target of $30 million. That's a big jump from their first fund, which closed at over $12 million in 2025. And here's the kicker: most of their existing investors came back for more. ### Why This Matters for DeepTech and AI We're seeing a wave of European VCs raising money for DeepTech, AI, and SpaceTech. Monte Carlo Capital's first close is part of that trend, but it stands out because they're not just writing checks—they're doubling down on a strategy that's already produced unicorns. 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." That's fast deployment. In a world where funds often sit on capital for months, MCC is moving. ### The Track Record Speaks Before launching MCC's funds, Ian built a reputation as an angel investor, leading over 50 syndicates and acting 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 doesn't just happen—it's earned. And the portfolio? It includes StarCloud, the fastest YC company to reach unicorn status, now valued at $2.3 billion. Then there's Scout AI, reportedly the largest DefenceTech Series A in US history at $400 million. These aren't flukes. They're the result of a deliberate approach: get onto outstanding cap tables early, invest alongside top VCs, and keep backing winners through SPVs. ### The Bigger Picture Monte Carlo Capital's Fund II first close comes amid a flurry of European VC activity. Munich's Vanagon Ventures raised $22 million for pre-Seed DeepTech and AI. London's Project Ventures secured $6.3 million for university-linked ventures. Ruya Ventures closed a $47 million DeepTech fund. And that's just the smaller players. Larger vehicles include Paris-based 360 Capital's $93 million Poli360 2 fund, Berlin's Merantix Capital's $113 million AI fund, London's Transition Ventures' $140 million Fund II, and French VC Elaia's $147 million DeepTech Seed fund. Together, these announcements represent roughly $570 million in disclosed capital, rising to $585 million with MCC's latest close. ### What's Next for MCC Fund II will invest primarily at Seed, with selective pre-Seed and Series A rounds. The focus? DeepTech, AI, SpaceTech, and enterprise software. That's a broad mandate, but MCC's lean fund plus co-investment SPVs model gives them flexibility to go where the opportunities are. So what does this mean for founders? If you're building in these sectors, MCC should be on your radar. They're not just looking for incremental improvements—they want credible paths to multi-billion-dollar outcomes. And they're willing to put their money where their mouth is. As Ian said, "We only invest where we see a credible path to a multi-billion-dollar outcome." That's a high bar, but it's one that's already produced results. With Fund II, they're ready to find the next StarCloud or Scout AI. Will you be one of them?