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.