Breega launches €150M 'Europe Seed III' fund to boost early-stage startups

Today European VC firm Breega, announced the launch of a fund named "Europe Seed III" with a commitment of at least €150 million. 

Just a year after the close of its "Venture II" fund of €250 million dedicated to Series A and B funding rounds, Europe Seed III follows in the footsteps of "Seed I" (2015) and "Seed II" (2019) with the same mission: to continue funding and supporting Europe's most promising early-stage startups.

This comes despite the challenging economic climate impacting the venture capital industry, which has seen a 50 percent drop in new VC fund raises in 2023 compared to 2022.

After successfully closing its first fund in 2015, Breega now manages five funds ranging from pre-seed to Series B and has increased its resources tenfold in just eight years. 

The Europe Seed III fund is set to accelerate Breega's investments in approximately thirty tech startups. Prior investment in startups pioneering disruptive innovation by Breega include: 

• Exotec (robotics), 
• Alice&Bob (quantum tech), 
• Didomi (regtech), 
• Stations-e (green mobility), 
• Crowdsec (cybersecurity), and 
• Qobra (software). 

Beyond financial support, Breega will provide the support of its "Scaling Squad" — a team of experts in specific business verticals such as HR, sales, and marketing — according to the company, this at least in part accounts for the fact that 70 percent of Breega-backed startups successfully move past the Seed stage, compared to a 35 percent market average. 

Approximately one-third of the Europe Seed III fund will be allocated to investments in the UK. Breega currently backs 13 startups in the UK. 

Lead image collage provided by Breega.