# Pre-seed Investors in Europe: Three Funds to Research

If you are raising your first institutional round in Europe, begin with funds whose published entry criteria match your stage. Seedcamp, Playfair and Concept provide useful starting points, but they describe different cheque ranges and investment approaches. Use the differences to decide what to verify before you reach out.

Source: https://12inf.ai/resources/europe-pre-seed
Updated: 2026-10-14

If you are raising your first institutional round in Europe, begin with funds whose published entry criteria match your stage. Seedcamp, Playfair and Concept provide useful starting points, but they describe different cheque ranges and investment approaches. Use the differences to decide what to verify before you reach out.

Compare these examples with the broader [pre-seed investor list for Europe](/resources/investors/pre-seed-europe).

Sources checked 9 October 2026. This is an editorial starting list, not a ranking or a confirmation that a fund will invest.

## What makes a pre-seed fund relevant to your startup?

Match the actual company to the fund's entry policy: where the company operates, what has been built, how much has already been raised and what the next round will achieve. A fund appearing on a European investor list does not establish that it invests in every European country or every kind of business. Keep geography, sector and stage as separate checks.

## Seedcamp

Its FAQ describes first-backer investing from before product or revenue through post-launch, with a focus on Europe, Israel or a distinct European angle. The published usual first cheque is $350K–$1.25M.
- Why consider it: A starting candidate for a company seeking early institutional backing with a clear European connection.
- Check before outreach: Explain your European angle. Do not treat its US presence as evidence that any US company meets its entry criteria.

[Read the fund’s own criteria ↗](https://seedcamp.com/faqs/)

## Playfair

Its published thesis specifies pre-seed technology companies in the UK and Europe, with cheques of £100K–£1.5M and a lead or co-lead approach.
- Why consider it: Relevant to a first institutional round where the founder needs an investor to take an active role in assembling the round.
- Check before outreach: The thesis says more than £1M already raised is too late for its entry policy. Check its sector exclusions as well as the broad technology label.

[Read the fund’s own criteria ↗](https://playfair.vc/thesis.php)

## Concept Ventures

Its Fund II announcement describes a sector-agnostic pre-seed strategy across the UK and Europe, with cheques up to $1.5M.
- Why consider it: A candidate to investigate when the company is at pre-seed and its ambition can be explained beyond a narrow local market.
- Check before outreach: An announced upper limit is not a promised cheque. Confirm current stage expectations, the proposed investment role and remaining allocation directly.

[Read the fund’s own criteria ↗](https://concept.vc/news/concept-ventures-launches-second-fund-of-88m)

For a UK round, the [first-cheque guide](/resources/uk-first-cheque) separates lead and participant roles before you choose whom to approach.

## Turn the starting list into a defensible shortlist
- Write one paragraph covering product, buyer, company location, customer market, stage, money already raised and the next milestone.
- Read each fund's current criteria and record one source for every decision-changing field. Leave unsupported fields unknown.
- Remove clear mismatches before looking for introductions. Give ambiguous candidates one specific clarification question.
- Separate investors that could lead from those that might fill an existing allocation. Your round needs roles, not just names.
- Use the tracker below to record approach, clarify or park. Recheck the primary source before sending a pitch.

Fictional example: a European software startup has already raised £1.4M and is calling its next round pre-seed. The label alone would not overcome Playfair's published previous-funding limit. Record that as a mismatch to clarify or park, rather than presenting the fund as an unqualified match.

For an AI company, use the [European AI seed shortlist brief](/resources/ai-seed-investors-europe-guide) to separate product fit, operating geography and check currency.

Use the [cross-border investor eligibility brief](/resources/do-vcs-invest-outside-their-home-market) to describe your operating base, customer markets and regional connection separately.

## Keep your evidence inspectable

Record the source, the date you read it, the specific claim it supports and the question still open. Keep a fund’s first cheque separate from its total investment per company.

## Build a shortlist for your company

Bring your website, stage and target markets to 12inf. Compare the reasons for each match and follow the available sources.

[Find investors for your startup](/try)

## Turn these examples into your own shortlist

Use the [free shortlist CSV kit](/resources/investor-shortlist-template) to record eligibility and evidence, or compare [investor research workflows](/resources/ai-investor-research-vs-database) before collecting more names.


## Compare the stated mandates

| Fund | Stage | Cheque | Geography | Sectors | Source checked |
| --- | --- | --- | --- | --- | --- |
| [Ada Ventures](/resources/funds/ada-ventures) | Pre-seed, Seed | £250K–£1M (≈ $331K–$1.3M) | UK, Europe | Climate, Health, Fintech, Future of work | [2026-10-11](https://adaventures.com) |
| [Ascension](/resources/funds/ascension) | Pre-seed, Seed | £150K–£850K (≈ $198K–$1.1M) | UK, Europe, US, Canada | Generalist | [2026-10-11](https://ascension.vc) |
| [byFounders](/resources/funds/byfounders) | Pre-seed, Seed | €500K–€4M (≈ $560K–$4.5M) | Nordics, Baltics | Generalist | [2026-10-11](https://byfounders.vc) |
| [Cherry Ventures](/resources/funds/cherry-ventures) | Pre-seed, Seed, Series A | €2M–€7M (≈ $2.2M–$7.8M) | Europe | Generalist, B2B SaaS, Fintech, Industrial, Health, Climate, Consumer | [2026-10-11](https://www.cherry.vc) |
| [Concept Ventures](/resources/funds/concept-ventures) | Pre-seed | Up to $1.5M | UK, Europe | Generalist | [2026-10-11](https://concept.vc/) |
| [Contrarian Ventures](/resources/funds/contrarian-ventures) | Pre-seed, Seed | €1M–€4M (≈ $1.1M–$4.5M) | Europe | Climate | [2026-10-11](https://cventures.vc) |
| [Elaia](/resources/funds/elaia) | Pre-seed, Seed, Series A | €1M–€15M (≈ $1.1M–$16.8M) | Europe | Deep tech, AI, Cybersecurity, Biotech, Health, Industrial, Hardware / Robotics | [2026-10-11](https://www.elaia.com) |
| [Episode 1 Ventures](/resources/funds/episode-1) | Pre-seed, Seed | £250K–£2M (≈ $331K–$2.6M) | UK, Europe | AI, Developer tools, B2B SaaS | [2026-10-11](https://episode1.com) |
| [firstminute capital](/resources/funds/firstminute-capital) | Pre-seed, Seed | £1M–£3M (≈ $1.3M–$4M) | UK, Europe | Generalist, AI, Deep tech | [2026-10-11](https://firstminute.capital) |
| [Fly Ventures](/resources/funds/fly-ventures) | Pre-seed, Seed |  | Europe | AI, Cybersecurity, Hardware / Robotics, Developer tools | [2026-10-11](https://fly.vc) |
| [Frontline Ventures](/resources/funds/frontline-ventures) | Pre-seed, Seed |  | Europe | Enterprise, AI | [2026-10-11](https://frontline.vc) |
| [Hoxton Ventures](/resources/funds/hoxton-ventures) | Pre-seed, Seed | $500K+ | Europe | Generalist | [2026-10-11](https://hoxtonventures.com) |
| [J12 Ventures](/resources/funds/j12-ventures) | Pre-seed, Seed |  | Europe | AI, Developer tools, B2B SaaS | [2026-10-11](https://j12ventures.com) |
| [Lunar Ventures](/resources/funds/lunar-ventures) | Pre-seed |  | Europe, US | Deep tech, AI, Developer tools, Cybersecurity, Biotech, Hardware / Robotics | [2026-10-11](https://lunar.vc) |
| [Maki.vc](/resources/funds/maki-vc) | Pre-seed, Seed |  | Nordics | Deep tech | [2026-10-11](https://maki.vc) |
| [NFX](/resources/funds/nfx) | Pre-seed, Seed |  | US, Israel, Latin America, Europe |  | [2026-10-11](https://www.nfx.com/about) |
| [Nina Capital](/resources/funds/nina-capital) | Pre-seed, Seed | €200K–€1.5M (≈ $224K–$1.7M) | Europe, US, Israel, Canada, Australia / New Zealand | Health | [2026-10-11](https://www.nina.capital/) |
| [Nordic Makers](/resources/funds/nordic-makers) | Pre-seed, Seed | €500K–€1M (≈ $560K–$1.1M) | Nordics | B2B SaaS | [2026-10-11](https://nordicmakers.vc) |
| [Pale Blue Dot](/resources/funds/pale-blue-dot) | Pre-seed, Seed | €500K–€2M (≈ $560K–$2.2M) | Europe, US | Climate | [2026-10-11](https://paleblue.vc) |
| [Playfair](/resources/funds/playfair-capital) | Pre-seed | £100K–£1.5M (≈ $132K–$2M) | UK, Europe | Generalist | [2026-10-11](https://playfair.vc) |
| [PSV Tech](/resources/funds/psv-tech) | Pre-seed |  | Nordics | AI, Developer tools | [2026-10-11](https://psv.xyz/) |
| [Seedcamp](/resources/funds/seedcamp) | Pre-seed, Seed | $350K–$1.25M | Europe, Israel | Generalist | [2026-10-11](https://seedcamp.com) |
| [Speedinvest](/resources/funds/speedinvest) | Pre-seed, Seed | €250K–€5M (≈ $280K–$5.6M) | Europe, MENA, Africa | AI, Climate, Industrial, Deep tech, Fintech, Crypto/Web3, Health, Biotech, Marketplaces, Consumer | [2026-10-11](https://www.speedinvest.com) |
| [Superangel](/resources/funds/superangel) | Pre-seed, Seed | €300K–€1M (≈ $336K–$1.1M) | Baltics, Nordics | AI, Hardware / Robotics, Developer tools, Deep tech | [2026-10-11](https://superangel.io) |
| [Voyager Ventures](/resources/funds/voyager-ventures) | Pre-seed, Seed, Series A |  | US, Canada, Europe | Climate, Industrial, Mobility, AI | [2026-10-12](https://www.voyagervc.com) |

Converted at ECB reference rate, 9 Oct 2026

[Full investor list and CSV](/resources/investors/pre-seed-europe)

## Investor research tracker

[Download CSV](/resources/skills/12inf-investor-research-template.csv)