Monte Carlo Capital's $15M Bet on DeepTech's Next Unicorns

Jan de Vries · 2026-10-09

Monte Carlo Capital just raised $15 million for its second fund. That's a first close, with a target of $30 million. But here's the thing: they've already put that money to work in five companies. And if you've been watching the European startup scene, you know that's a signal worth paying attention to. ### The Fund II Details Monte Carlo Capital (MCC) is a Monaco-based early-stage venture firm. They invest at Seed in DeepTech and tech-enabled innovators. Their first fund closed at over $12 million in 2025. Most of those original LPs came back for round two. That kind of loyalty doesn't happen by accident. "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." That last part is key. They're not spraying and praying. They're hunting for companies that can become giants. ### What's in the Portfolio? MCC's current portfolio includes some serious heavyweights: - **StarCloud** – The fastest Y Combinator 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. Those aren't small bets. They're proof that MCC knows how to pick winners early. ### The Bigger Picture: European VC Is Heating Up MCC's announcement comes amid a wave of fundraising activity among European venture capital firms targeting DeepTech, AI, and other emerging technologies in 2026. Recent moves include: - Munich-based Vanagon Ventures' $22 million fund for pre-Seed DeepTech and AI startups - London-based Project Ventures' $6.3 million vehicle targeting university-linked ventures - Ruya Ventures' $47 million DeepTech fund - Paris-based 360 Capital's $92 million Poli360 2 fund - Berlin-based Merantix Capital's $112 million AI fund - London-based Transition Ventures' $139 million Fund II - French VC Elaia's $146 million DeepTech Seed fund Together, these announcements represent roughly $565 million in disclosed fund capital. Add MCC's latest first close, and that number climbs to $580 million. That's not pocket change. It's a statement. ### Who's Behind Monte Carlo Capital? Ian Sosso founded MCC in 2009. Before launching the funds, 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. So he's not new to this. He's been in the trenches. MCC combines a lean fund with co-investment SPVs. That means they can write bigger checks when needed, without carrying a massive fund. It's a smart structure for early-stage investing. ### Where the Money Goes Fund II invests primarily at Seed, and selectively at pre-Seed and Series A. The focus sectors are DeepTech, AI, SpaceTech, and enterprise software. If you're building in any of those spaces, MCC is a name to know. Today's announcement comes three years after MCC's first fund launch in 2023. If the first fund's performance is any indication, Fund II is one to watch. And for founders in Europe's DeepTech scene, that's very good news.