Elaia Secures €120 Million for New European B2B Tech Fund, Targets €300 Million
February 16, 2026, 3:52 pm
Elaia announces a €120 million first close for its Digital Venture Fund V (DV5). The fund targets €300 million. It will fuel European B2B technology startups. Investments span pre-Seed to Series B. Ticket sizes range from €1 million to €15 million. Key sectors include AI, cybersecurity, IndustrialTech, and core digital infrastructure. This significant raise reinforces Elaia's "full-stack" investment model. The firm provides both capital and extensive operational support. DV5 aims to cultivate resilient, high-growth companies. Major institutional investors back this initiative. Bpifrance, MACSF, and BNP Paribas are among them. This positions DV5 as a critical player in Europe’s competitive venture landscape. It fosters future tech leaders across the continent. Elaia boasts a strong track record, including successes like Mirakl and Shift Technology. Initial DV5 investments include Mimic Robotics and Linkup. The fund prioritizes product-market fit and global scaling for its portfolio companies.
Elaia, a prominent European venture capital firm, has announced a significant first close for its fifth Digital Venture Fund (DV5). The fund secured €120 million. It targets an ambitious final close of €300 million. This capital infusion is earmarked for high-potential B2B technology startups across Europe.
DV5 adopts a multi-stage investment strategy. It supports companies from pre-Seed through Series B rounds. Initial ticket sizes will range from €1 million to €15 million. The fund's focus is clear: European B2B technology companies. These firms often possess strong intellectual property foundations. They innovate in foundational infrastructure and application-level solutions.
Key sectors for DV5 include artificial intelligence (AI), cybersecurity, TechBio, industrial innovation (IndustrialTech), and core digital infrastructure. These areas represent critical growth engines for the European economy. Elaia seeks to empower the next generation of leaders in these fields.
Investor confidence in Elaia’s vision remains strong. The first close saw commitments from both returning and new limited partners. Notable investors include Bpifrance, which participates through its France 2030 initiative and its Spark fund. Other significant backers are MACSF, BNP Paribas, SMABTP, Arundo Re, and Groupe AG2R LA MONDIALE. Lazard Frères Gestion provided crucial support in securing these commitments.
This new fund follows Elaia’s successful DV4, which closed at €200 million in 2023. DV5 arrives amid a dynamic fundraising environment in Europe. Several comparable vehicles have recently announced closes. Vanagon Ventures secured €20 million for DeepTech. Backed VC raised €86 million for frontier technology. Notion Capital closed a €114 million growth fund for AI and FinTech. HenQ 5 reached approximately €67.6 million for B2B software. Índico Capital Partners closed €125 million for Enterprise SaaS and DeepTech in Southern Europe. Vendep Capital secured €80 million for early-stage SaaS in the Nordics and Baltics. Volve Capital raised €9 million for Benelux and DACH founders.
Collectively, these funds represent over €500 million in new venture capital. DV5's €120 million first close positions it among the larger funds in this competitive segment. It highlights sustained institutional appetite for European B2B technology. While some funds specialize regionally, DV5 maintains a broader European scope. It targets critical innovation hubs.
Elaia was established in 2002. It has since become a key player in the European venture scene. The firm's leadership team brings extensive experience. They are former founders, engineers, and DeepTech operators. This deep expertise informs their investment strategy.
Elaia employs a "full-stack" investment approach. This means they provide more than just capital. They offer comprehensive operational support. They contribute technical insights. They foster ongoing investor relationships. This hands-on method distinguishes Elaia. It is particularly vital in complex domains like AI and IndustrialTech. The firm stresses execution. It aims to help startups achieve product-market fit. It guides them through scaling challenges. It works towards strong exits.
Elaia’s track record demonstrates its ability to identify and accelerate high-potential ventures. Portfolio successes include Mirakl, Shift Technology, HarfangLab, iBanFirst, and SeqOne. Other notable companies include Vibe.co and Dexory. These companies underscore Elaia’s capacity to spot disruptive potential early. They then support its development into market leadership. Many founders from their portfolio even return as advisors and investors. This reflects the long-term relationships cultivated within the European ecosystem.
DV5 has already made its initial investments. Mimic Robotics, a Zurich-based company specializing in physical AI, is one. Linkup is another. These early moves align with the fund's core themes. Elaia plans to back 10–15 startups annually. The firm actively collaborates with leading innovation hubs. These include ETH Zurich and MIT. It also deepens its partnership with the France 2030 initiative.
Europe continues to produce exceptional technical talent and breakthrough innovations. Elaia believes strong execution differentiates regional players from global leaders. Product-market readiness is crucial. Customer traction is vital. Operational discipline drives success. DV5 provides the support necessary for these building blocks. It is designed to help companies transcend regional boundaries. It empowers them to scale globally.
This new fund reinforces Elaia’s commitment to supercharge Europe's most resilient and high-growth companies. It will play a significant role in shaping the continent’s technological future. DV5 is set to unlock substantial value for founders and investors alike. It will drive innovation and economic growth across Europe. The firm continues to build on its legacy of backing disruptive technologies and transforming them into market leaders.
Elaia, a prominent European venture capital firm, has announced a significant first close for its fifth Digital Venture Fund (DV5). The fund secured €120 million. It targets an ambitious final close of €300 million. This capital infusion is earmarked for high-potential B2B technology startups across Europe.
DV5 adopts a multi-stage investment strategy. It supports companies from pre-Seed through Series B rounds. Initial ticket sizes will range from €1 million to €15 million. The fund's focus is clear: European B2B technology companies. These firms often possess strong intellectual property foundations. They innovate in foundational infrastructure and application-level solutions.
Key sectors for DV5 include artificial intelligence (AI), cybersecurity, TechBio, industrial innovation (IndustrialTech), and core digital infrastructure. These areas represent critical growth engines for the European economy. Elaia seeks to empower the next generation of leaders in these fields.
Investor confidence in Elaia’s vision remains strong. The first close saw commitments from both returning and new limited partners. Notable investors include Bpifrance, which participates through its France 2030 initiative and its Spark fund. Other significant backers are MACSF, BNP Paribas, SMABTP, Arundo Re, and Groupe AG2R LA MONDIALE. Lazard Frères Gestion provided crucial support in securing these commitments.
This new fund follows Elaia’s successful DV4, which closed at €200 million in 2023. DV5 arrives amid a dynamic fundraising environment in Europe. Several comparable vehicles have recently announced closes. Vanagon Ventures secured €20 million for DeepTech. Backed VC raised €86 million for frontier technology. Notion Capital closed a €114 million growth fund for AI and FinTech. HenQ 5 reached approximately €67.6 million for B2B software. Índico Capital Partners closed €125 million for Enterprise SaaS and DeepTech in Southern Europe. Vendep Capital secured €80 million for early-stage SaaS in the Nordics and Baltics. Volve Capital raised €9 million for Benelux and DACH founders.
Collectively, these funds represent over €500 million in new venture capital. DV5's €120 million first close positions it among the larger funds in this competitive segment. It highlights sustained institutional appetite for European B2B technology. While some funds specialize regionally, DV5 maintains a broader European scope. It targets critical innovation hubs.
Elaia was established in 2002. It has since become a key player in the European venture scene. The firm's leadership team brings extensive experience. They are former founders, engineers, and DeepTech operators. This deep expertise informs their investment strategy.
Elaia employs a "full-stack" investment approach. This means they provide more than just capital. They offer comprehensive operational support. They contribute technical insights. They foster ongoing investor relationships. This hands-on method distinguishes Elaia. It is particularly vital in complex domains like AI and IndustrialTech. The firm stresses execution. It aims to help startups achieve product-market fit. It guides them through scaling challenges. It works towards strong exits.
Elaia’s track record demonstrates its ability to identify and accelerate high-potential ventures. Portfolio successes include Mirakl, Shift Technology, HarfangLab, iBanFirst, and SeqOne. Other notable companies include Vibe.co and Dexory. These companies underscore Elaia’s capacity to spot disruptive potential early. They then support its development into market leadership. Many founders from their portfolio even return as advisors and investors. This reflects the long-term relationships cultivated within the European ecosystem.
DV5 has already made its initial investments. Mimic Robotics, a Zurich-based company specializing in physical AI, is one. Linkup is another. These early moves align with the fund's core themes. Elaia plans to back 10–15 startups annually. The firm actively collaborates with leading innovation hubs. These include ETH Zurich and MIT. It also deepens its partnership with the France 2030 initiative.
Europe continues to produce exceptional technical talent and breakthrough innovations. Elaia believes strong execution differentiates regional players from global leaders. Product-market readiness is crucial. Customer traction is vital. Operational discipline drives success. DV5 provides the support necessary for these building blocks. It is designed to help companies transcend regional boundaries. It empowers them to scale globally.
This new fund reinforces Elaia’s commitment to supercharge Europe's most resilient and high-growth companies. It will play a significant role in shaping the continent’s technological future. DV5 is set to unlock substantial value for founders and investors alike. It will drive innovation and economic growth across Europe. The firm continues to build on its legacy of backing disruptive technologies and transforming them into market leaders.