Samaipata launches €110M fund to back early-stage AI-native startups across Europe

The pan-European VC firm has held its first close at €70M for Fund III, backed by Germany’s KfW, Spain’s SETT, and a network of family offices, with a mandate to find European companies building on the AI wave.

Samaipata, the pan-European venture capital firm founded in Madrid in 2016, has launched its third fund with a target of €110 million and an explicit focus on AI-native startups at the earliest stages of their development. The firm announced this week that the fund has already held its first close at €70 million.

The investor base for Fund III includes institutional names with significant reach: Germany’s state development bank KfW, Spain’s SETT (the state entity for industrial transformation and digitalisation, often referred to informally as the “SEPI digital”), and a group of prominent Spanish family offices.

The first close represents 64% of the target, a ...