Pitchdrive raises €60M to back Europe's AI-native founders

European pre-seed venture capital investor Pitchdrive has closed its fourth fund at €60 million, exceeding its initial €50 million target. The fund is fully backed by private investors, with no government or institutional capital. Pitchdrive said investor demand exceeded the original target, but the team chose to cap the fund size in order to maintain a concentrated portfolio and hands-on investment approach.

Founded in 2020, Pitchdrive follows a "Co-founder Capital" model, combining funding with operational support from a network of experienced entrepreneurs, operators, and startup founders. The investor is chaired by Jonas Dhaenens, founder of team.blue, and was established by Boris Bogaert, Wim Derkinderen, and Koen Christiaens.

The model is supported by a network of more than 20 entrepreneurs and executives from European technology companies, including team.blue, Deliverect, Lighthouse, Loop Earplugs, Showpad, Teamleader, Silverfin, and Foodbag. The network provides portfolio companies with strategic guidance, industry expertise, and access to the broader European startup ecosystem.

The new fund will invest in approximately 25 to 30 early-stage startups across Europe and selected international markets. Its investment strategy is centred on companies that are either built around artificial intelligence or whose business models are being fundamentally reshaped by AI technologies.

Pitchdrive plans to focus on three areas: AI-native software products, AI-enabled business categories, and software-driven physical industries such as robotics, mobility, and hardware. The investor said it will prioritise companies where AI is central to the business model rather than an add-on capability.

According to Pitchdrive, the larger fund reflects changes in the early-stage market, where AI-native companies are scaling rapidly and increasingly require significant computing infrastructure rather than larger teams.

Since its launch, Pitchdrive has invested in 70 startups across Europe. Its portfolio includes Henchman, which was acquired by LexisNexis, as well as Introw, Heltia, Happl, Axe, Ravical, Conveo, Foodamigos, and Gro.

Alongside the fund announcement, Pitchdrive disclosed its participation in the $10 million pre-seed round of New York-based compliance AI startup Zerodrift, founded by serial entrepreneur Kumesh Aroomoogan. The investment reflects the investor's growing interest in backing AI-focused companies beyond Europe while maintaining its founder-led approach.

Pitchdrive says its Co-founder Capital model is designed to provide founders with more than financial backing, combining early-stage capital with direct access to operators and entrepreneurs who have built and scaled technology companies across Europe.