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

Jan de Vries · 2026-10-09

Monte Carlo Capital (MCC) just made a move that should get your attention if you're tracking 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 solid jump from Fund I, which closed at over $12 million in 2025. Most of the original limited partners (LPs) from Fund I have recommitted, and MCC has already deployed capital into five new companies. That's not just a vote of confidence—it's a signal that the firm's strategy is working. 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. 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." ### Why This Matters for the European Startup Scene MCC's fund isn't happening in a vacuum. It's part of a broader wave of European VCs raising money for DeepTech, AI, and other emerging technologies in 2026. Just look at the recent activity: - **Vanagon Ventures** (Munich) raised $21.5 million for pre-Seed DeepTech and AI startups. - **Project Ventures** (London) secured $6.2 million for university-linked ventures. - **Ruya Ventures** raised $46 million for a DeepTech fund. - **360 Capital** (Paris) closed an $91 million fund called Poli360 2. - **Merantix Capital** (Berlin) launched a $111 million AI fund. - **Transition Ventures** (London) raised $138 million for its Fund II. - **Elaia** (French VC) closed a $144 million DeepTech Seed fund. Altogether, these announcements represent roughly $558 million in disclosed fund capital—and that number climbs to $572 million when you include MCC's latest first close. ### A Track Record Built on Early Bets Founded in 2009 by Ian Sosso, MCC operates with a lean fund model paired with co-investment SPVs (special purpose vehicles). Before launching MCC's funds, Ian built a serious angel investing track record—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 recognition doesn't come from playing it safe. Fund II invests primarily at Seed stage, and selectively at pre-Seed and Series A. The focus sectors? DeepTech, AI, SpaceTech, and enterprise software. If you're building in any of those areas, MCC is worth knowing. ### Portfolio Highlights The firm's current portfolio includes some standout names: - **StarCloud** – The 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. These aren't just lucky picks. They reflect a deliberate strategy of getting in early on companies with the potential to become multi-billion-dollar businesses. ### What This Means for Founders and Investors If you're a founder in DeepTech, AI, or SpaceTech, MCC's Fund II is a signal that capital is available—but it's also competitive. The firm only invests where it sees a credible path to a massive outcome. That means your pitch needs to show not just a great product, but a clear route to scale. For investors, the takeaway is that European venture is maturing. More funds are targeting deep tech, and the ecosystem is producing unicorns. MCC's ability to attract returning LPs while bringing in new ones suggests that the smart money is paying attention. The next few years will be interesting. With Fund II now active, expect to see more early-stage bets from MCC—and more headlines about the companies they back.