Entourage raises €100M for second fund, targeting AI, robotics and deeptech

European early-stage venture capital firm Entourage has closed its second fund at €100 million, just over two years after launching its first fund in 2024. The fund exceeded its initial €75 million target within two weeks and was subsequently capped at €100 million.

Founded by Pieterjan Bouten, co-founder and former CEO of Showpad, Entourage focuses on investing in early-stage technology companies.

Since its launch in 2024, Entourage has invested in several European technology companies, including cybersecurity startup Aikido Security, which reached unicorn status earlier this year, Conveo, which recently raised a $50 million Series A, and Lexroom, which reached €30 million in annual recurring revenue within 24 months. Entourage was among the earliest investors in all three companies, backing them before they attracted larger international venture capital investors.

When we launched Entourage two years ago, we had a simple ambition: to back the next generation of legendary founders. We wrote the first cheques into companies like Aikido, Conveo and Lexroom. What these founders have achieved in such a short time has only strengthened our conviction in our generalist, founder-first approach. With Fund II, we’re doubling down,

said Pieterjan (PJ) Bouten, Founder and General Partner of Entourage.

With its second fund, Entourage plans to invest in approximately 25 companies at the pre-seed and seed stages across Europe and other markets. Initial investments will range from €1 million to €5 million, with additional capital reserved for follow-on funding rounds.

While its first fund focused primarily on software companies, the new fund will target a broader range of technologies, including artificial intelligence, enterprise software, robotics, physical AI and deeptech.

The next decade will produce some of the most iconic technology companies in history, and it’s time for Europe to rise to the occasion. AI is reinventing software and taking intelligence into the physical world. Entire industries will be rebuilt. We want to back the founders bold enough to lead that transformation,

said Bouten.

In addition to its investment activities, Entourage operates Entourage Studio, a venture-building arm that combines entrepreneurial talent, capital and operational expertise to co-found new companies. Tekst, an AI-powered enterprise process mining and automation company developed through Entourage Studio, recently raised a €10 million Series A.

Alongside the launch of Fund II, Entourage has expanded its investment team, led by partners Pieterjan Bouten, Evert Beeckman and Maarten Mortier. The firm has added three investors, Erwan Gardelle, Sixtine Riescher and Illja Schiller, opened an office in London and established a presence in Paris.

Entourage also follows an investment approach that limits its involvement in portfolio company governance. Despite leading or co-leading most of its funding rounds, the firm rarely takes board seats, favouring a model that gives founders greater independence in managing their businesses.