Monte Carlo Capital's $15M Fund II: A Game-Changer for DeepTech Startups

Jan de Vries · 2026-10-09

Monte Carlo Capital (MCC), the Monaco-based venture firm that backs early-stage DeepTech and tech-enabled innovators, just announced a $15 million first close of its Fund II. The target? A cool $30 million. That's a big jump from Fund I, which closed at over $12 million in 2025. Most of the original limited partners (LPs) from Fund I are back for round two, and MCC has already poured capital into five new companies. It's a clear sign that investors believe in MCC's approach. ### Why This Matters for DeepTech and AI We're seeing a wave of European VCs raising funds for DeepTech, AI, and other frontier technologies in 2026. MCC's first close is part of that surge. Recent examples include: - Munich-based Vanagon Ventures with a $22 million fund for pre-Seed DeepTech and AI startups - London-based Project Ventures with a $6.3 million vehicle targeting university-linked ventures - Ruya Ventures with a $47 million DeepTech fund - Paris-based 360 Capital's $93 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 Add it all up, and you get roughly $565 million in disclosed fund capital, or about $580 million when you include MCC's latest first close. That's a lot of dry powder looking for the next big thing. ### The Man Behind the Fund Ian Sosso founded MCC in 2009. Before that, he was a prolific 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 knows a thing or two about spotting winners early. "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 Sosso. "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 philosophy has led MCC to some impressive portfolio companies, like StarCloud, the fastest YC company ever to reach unicorn status, now valued at $2.3 billion. And Scout AI, which reportedly raised the largest DefenceTech Series A in US history at $400 million. ### What's Next for MCC? Fund II will invest primarily at Seed, and selectively at pre-Seed and Series A. The focus sectors? DeepTech, AI, SpaceTech, and enterprise software. With a lean fund plus co-investment SPVs, MCC can double down on its best performers. If you're building in these spaces, MCC might just be the partner you need. They're not just writing checks; they're in it for the long haul, backing companies from early stages all the way to scale. So keep an eye on Monte Carlo Capital. They're quietly becoming a powerhouse in European DeepTech, and this new fund is just the beginning.