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

Jan de Vries · 2026-10-09

Monte Carlo Capital (MCC), the Monaco-based early-stage venture firm, just announced a €13 million ($15 million) first close of its Fund II. That's a big deal for a lean operation. The fund is targeting €26 million ($30 million) total, and they're already putting the money to work. This comes after Fund I closed at over €11 million in 2025. Most of the original LPs (limited partners) have recommitted, and Fund II has already made five investments. That's a strong signal of trust. ### Why This Matters for European Startups MCC's move is part of a broader trend. European venture capital firms are ramping up their fundraising for DeepTech, AI, and other emerging technologies in 2026. Here's a quick rundown of recent funds: - Vanagon Ventures (Munich): €20 million for pre-Seed DeepTech and AI startups - Project Ventures (London): €5.8 million targeting university-linked ventures - Ruya Ventures: €43 million DeepTech fund - 360 Capital (Paris): €85 million Poli360 2 fund - Merantix Capital (Berlin): €103 million AI fund - Transition Ventures (London): €128 million Fund II - Elaia (France): €134 million DeepTech Seed fund Add MCC's first close, and that's roughly €532 million ($611 million) in disclosed capital. That's a lot of dry powder aimed at early-stage innovation. ### The Man Behind the Fund Ian Sosso founded MCC in 2009. Before that, he built a track record 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. In a statement, Sosso said: > "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. 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: back winners early and double down. ### What MCC Looks For Fund II invests primarily at Seed, and selectively at pre-Seed and Series A. The focus sectors are: - DeepTech - AI - SpaceTech - Enterprise software They're not spraying and praying. They want companies that can become multi-billion-dollar businesses. ### Portfolio Highlights MCC's current portfolio includes some standout names: - 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 MCC's ability to pick winners. ### The Bigger Picture This announcement comes three years after MCC launched its first fund in 2023. The fact that they've already closed a first close for Fund II and made five investments suggests they're moving fast. For founders in DeepTech, AI, and SpaceTech, this is good news. More capital means more opportunities. And for LPs, it's a sign that European venture is maturing. The continent is no longer just a follower in tech; it's becoming a leader in deep tech and AI. Funds like MCC's are a big part of that story. So keep an eye on Monte Carlo Capital. They're small but mighty, and they're not afraid to back big ideas.