Moonfire Ventures has raised $115 million to continue backing Europe’s best early-stage startups.
Combining a human and tech approach, Moonfire uses proprietary machine learning models and software across the VC value chain to transform venture, solving founder challenges at scale, with greater knowledge and speed.
Through this Moonfire is embracing the new age of AI that is redefining how tech companies are built, driving further access, efficiency and product quality while revolutionising the startup opportunity for founders.
Since its launch in 2020 by former Atomico co-founder Mattias Ljungman, Moonfire has been aiming to build the most advanced quantitative VC firm in Europe. It says it is as much a VC-focused tech startup as it is a VC.
The team has built custom AI models and a large-scale tech stack from the ground up, allowing it to integrate tech across the full VC value chain, from founder discovery to exit.
The AI helps investors make better decisions, it says, while the investors and on-hand engineers can directly and continuously improve the AI in response to evolving trends and market shifts.
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Moonfire believes it represents the future of VC by enabling its team to be more impactful, more productive, and drive more value for its founders.
Moonfire now reviews up to 50,000 companies every week – more than 600 times the average of a traditional VC – in search of the very best founding teams in Europe using next-level technologies like AI, Web3, and AR/VR to transform four key sectors – health, work, finance and gaming.
Moonfire describes this focus as “where sources of disruption intersect with sectors that are driving innovation” and believes this is key in the pursuit of a more accessible, sustainable and equitable society.
“We are entering a new decade of AI that is transforming the possibilities of technology and redefining how tech companies are built through greater access, efficiency and product quality,” said Moonfire Ventures managing partner Mattias Ljungman.
“We want to be there for the founders at the earliest stages powering their growth and being true partners from the very beginning. Europe has been a leader in AI and we find our best fit is to support the next generation of founders solving some of our greatest challenges within health, work, finance and gaming.”