Monaco's Monte Carlo Capital Secures €13 Million First Close for Its Second Fund
Monaco-based venture firm Monte Carlo Capital has announced a €13 million first close of its Fund II, targeting €26 million for early-stage technology investments.
Monte Carlo Capital (MCC), a Monaco-based early-stage venture firm that invests at Seed stage in DeepTech and tech-enabled innovators, has announced a first close of its second fund at €13 million ($15 million). The firm is aiming for a final size of €26 million ($30 million). The announcement reflects continued investor appetite for European early-stage technology funds.
MCC's first fund closed in 2025 at over €11 million. Most of its limited partners (LPs, the investors backing the fund) have recommitted to Fund II, which has already made five investments.
Ian Sosso, MCC's founder and Managing Partner, says the strategy remains unchanged: get onto outstanding cap tables early, invest alongside leading venture investors, and keep backing the best companies as they grow through special purpose vehicles (SPVs, co-investment structures). He says the firm invests only where it sees a credible route to a multi-billion-dollar outcome.
Focus and portfolio
Fund II invests mainly at Seed, and selectively at pre-Seed and Series A, across DeepTech, AI, SpaceTech and enterprise software. Current portfolio companies include StarCloud, now valued at €2 billion ($2.3 billion), and defence-technology company Scout AI, whose Series A of €357 million ($400 million) is reportedly the largest in the sector in US history.
About the firm and the market
MCC was founded in 2009 and combines a lean fund with co-investment SPVs. Sosso previously worked as an angel investor, led more than 50 syndicates and acted as lead investor up to Series B. He sits on the board of the European Business Angels Network (EBAN), which named him Best European Early-Stage Investor in 2019.
Other European venture firms have also raised funds for DeepTech and AI in 2026, including Munich-based Vanagon Ventures (€20 million), London-based Project Ventures (€5.8 million), Ruya Ventures (€43 million), Paris-based 360 Capital (€85 million), Berlin-based Merantix Capital (€103 million), London-based Transition Ventures (€128 million) and French firm Elaia (€134 million). Together these total about €519 million, or €532 million including MCC.
