Acurio Ventures Unlocks European VC Liquidity with €115M Secondary Fund
July 18, 2026, 9:38 am
Location: Spain, Community of Madrid, Madrid
Employees: 11-50
Founded date: 2015
Total raised: $1.07M
Location: Sweden, Stockholm
Employees: 1001-5000
Founded date: 2009
Total raised: $2.23B
Acurio Ventures launches a €115 million secondary fund, Acurio Secondaries I FCR. It targets Europe's venture capital market, tackling critical liquidity needs. The fund focuses on underserved VC fund-level transactions, specifically those below €20 million. This new vehicle aims to unlock capital in mature early-stage funds, driving robust returns. It boosts Acurio's assets under management to over €450 million, solidifying its diverse platform across direct startup investments and venture fund strategies within the dynamic European tech ecosystem. This move responds to growing demand for alternative exit paths beyond traditional IPOs and M&A.
Acurio Ventures announces a major fund closure. The firm secured €115 million for Acurio Secondaries I FCR. This new fund targets Europe's venture capital ecosystem. It addresses a critical market need: liquidity.
The European VC landscape faces a challenge. Capital remains locked in illiquid assets. Traditional exits, like IPOs and mergers, are slow. Investors, founders, and fund managers need alternatives. Secondary transactions offer a solution. They provide much-needed liquidity. Sellers can realize returns sooner. Buyers gain exposure to mature private assets.
Global secondary markets are booming. Volumes exceeded $200 billion in 2025. This shows growing demand. Yet, Europe's VC secondary market is underdeveloped. Large US managers dominate this space. Smaller transactions often go ignored.
Acurio Ventures sees this gap. The Acurio Secondaries I fund targets this underserved segment. It focuses on European VC fund-level secondaries. Transactions below €20 million are its sweet spot. This approach taps a nascent market. Substantial growth opportunities exist here.
The fund's strategy is clear. It seeks mature early-stage VC funds. These funds are typically eight years or older. Their portfolios are well-defined. Value drivers are identified. Exit plans are realistic. Acurio expects exits within two to three years.
Financial objectives are ambitious. The fund aims for strong returns. A net multiple of at least 2x invested capital is targeted. Internal Rates of Return (IRRs) above 25 percent are expected. This signals high conviction. The fund already holds a significant portfolio. Close to €45 million is already committed.
This new vehicle expands Acurio's reach. Total assets under management now exceed €450 million. This capital is spread across five investment vehicles. Three focus on direct startup investments. Two concentrate on venture capital funds and secondaries.
Acurio Ventures has a broad investment platform. Its direct investment vehicles target European seed and Series A startups. Acurio Ventures III closed in 2024. It raised over €150 million. This fund is still actively investing. It already holds more than 40 companies.
The firm has invested widely. Approximately 120 startups are in its direct portfolio. It also backed 20 VC funds. Its portfolio boasts notable scale-ups. These include Seedtag, Voy, and Preply. Other key names are Jobandtalent, Indexa Capital, and Lingokids. Refurbed is another success. Exoticca, Innovamat, and Ironhack also feature. Keyway and IntelexVision demonstrate diverse tech interests. Lime and Teton.ai highlight healthcare and mobility investments.
Operating across multiple strategies offers advantages. Direct investing provides early exposure to emerging tech. The secondaries strategy accesses established venture assets. This dual approach provides flexibility. It also offers capital solutions across the entire ecosystem.
The firm's fund-of-funds activities provide diversification. Investors gain exposure to a range of European VC managers. This reduces risk compared to single startup investments. It also broadens access to managers and portfolio companies.
European venture capital has grown dramatically. Many new funds launched. Startups raised successive private rounds. This expanded the pool of illiquid positions. Specialist investors are now crucial. They evaluate complex fund portfolios. They assess individual company stakes. Acurio Ventures is positioned as such a specialist.
The firm operates from key European cities. Offices are located in Bilbao, Madrid, and London. This strategic presence supports its pan-European focus. Acurio has invested across more than 16 countries. Its expertise spans various sectors. These include software, fintech, education, and marketplaces. Travel, cybersecurity, healthcare, and mobility are also key.
Acurio's direct investment criteria are rigorous. It targets early-stage companies. Investments range from pre-seed through Series B. Initial commitments can reach €3 million. The focus is on strong unit economics. Capital-efficient business models are preferred. Credible paths to long-term profitability are essential.
The closure of Acurio Secondaries I marks a milestone. It validates Acurio's strategy. It reinforces its commitment to the European tech ecosystem. The fund provides vital capital. It supports growth and innovation. It empowers investors and founders alike. Acurio Ventures is a key player. It helps shape the future of European venture capital. Its impact will be significant.
Acurio Ventures announces a major fund closure. The firm secured €115 million for Acurio Secondaries I FCR. This new fund targets Europe's venture capital ecosystem. It addresses a critical market need: liquidity.
The European VC landscape faces a challenge. Capital remains locked in illiquid assets. Traditional exits, like IPOs and mergers, are slow. Investors, founders, and fund managers need alternatives. Secondary transactions offer a solution. They provide much-needed liquidity. Sellers can realize returns sooner. Buyers gain exposure to mature private assets.
Global secondary markets are booming. Volumes exceeded $200 billion in 2025. This shows growing demand. Yet, Europe's VC secondary market is underdeveloped. Large US managers dominate this space. Smaller transactions often go ignored.
Acurio Ventures sees this gap. The Acurio Secondaries I fund targets this underserved segment. It focuses on European VC fund-level secondaries. Transactions below €20 million are its sweet spot. This approach taps a nascent market. Substantial growth opportunities exist here.
The fund's strategy is clear. It seeks mature early-stage VC funds. These funds are typically eight years or older. Their portfolios are well-defined. Value drivers are identified. Exit plans are realistic. Acurio expects exits within two to three years.
Financial objectives are ambitious. The fund aims for strong returns. A net multiple of at least 2x invested capital is targeted. Internal Rates of Return (IRRs) above 25 percent are expected. This signals high conviction. The fund already holds a significant portfolio. Close to €45 million is already committed.
This new vehicle expands Acurio's reach. Total assets under management now exceed €450 million. This capital is spread across five investment vehicles. Three focus on direct startup investments. Two concentrate on venture capital funds and secondaries.
Acurio Ventures has a broad investment platform. Its direct investment vehicles target European seed and Series A startups. Acurio Ventures III closed in 2024. It raised over €150 million. This fund is still actively investing. It already holds more than 40 companies.
The firm has invested widely. Approximately 120 startups are in its direct portfolio. It also backed 20 VC funds. Its portfolio boasts notable scale-ups. These include Seedtag, Voy, and Preply. Other key names are Jobandtalent, Indexa Capital, and Lingokids. Refurbed is another success. Exoticca, Innovamat, and Ironhack also feature. Keyway and IntelexVision demonstrate diverse tech interests. Lime and Teton.ai highlight healthcare and mobility investments.
Operating across multiple strategies offers advantages. Direct investing provides early exposure to emerging tech. The secondaries strategy accesses established venture assets. This dual approach provides flexibility. It also offers capital solutions across the entire ecosystem.
The firm's fund-of-funds activities provide diversification. Investors gain exposure to a range of European VC managers. This reduces risk compared to single startup investments. It also broadens access to managers and portfolio companies.
European venture capital has grown dramatically. Many new funds launched. Startups raised successive private rounds. This expanded the pool of illiquid positions. Specialist investors are now crucial. They evaluate complex fund portfolios. They assess individual company stakes. Acurio Ventures is positioned as such a specialist.
The firm operates from key European cities. Offices are located in Bilbao, Madrid, and London. This strategic presence supports its pan-European focus. Acurio has invested across more than 16 countries. Its expertise spans various sectors. These include software, fintech, education, and marketplaces. Travel, cybersecurity, healthcare, and mobility are also key.
Acurio's direct investment criteria are rigorous. It targets early-stage companies. Investments range from pre-seed through Series B. Initial commitments can reach €3 million. The focus is on strong unit economics. Capital-efficient business models are preferred. Credible paths to long-term profitability are essential.
The closure of Acurio Secondaries I marks a milestone. It validates Acurio's strategy. It reinforces its commitment to the European tech ecosystem. The fund provides vital capital. It supports growth and innovation. It empowers investors and founders alike. Acurio Ventures is a key player. It helps shape the future of European venture capital. Its impact will be significant.