Volta Ventures, the venture capital firm investing in the Benelux region, announced an initial close of its second fund, Volta Ventures II, at €35 million. The fund will continue to target early-state internet and SaaS companies in Benelux, comprised of Belgium, the Netherlands, and Luxembourg.

Founded five years ago, the firm is managed from Gent by Frank Maene and from Amsterdam by Sander Vonk. Its aim is to fill the financing gap between angel investors at seed level and more substantial rounds at scale. Investments range from €300,000 and €2 million per round, in pre-revenue and early-stage tech startups.

The first fund, Volta Ventures I, totaled €55 million. Current portfolio companies range from fintech to proptech, with a few martech and deeptech as well.

As for this new fund, the firm might arrange a second close within six months.

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