Aspire11 Launches €500M Global Fund To Deliver Venture-Style Returns For European Pensioners

The fund uses a barbell strategy with two approaches: Tribes and Eternals. Mucha is joined by Rentea, LP The Partners Group, and partner Tülin Tokatli, who brings EIF experience in evaluating VC investors to curate the Tribes portfolio.

Pavel Mucha, Founder of Aspire11, said: “Awakening dormant pension capital and connecting it efficiently to VC investors and lifelong builders has turned into a mission for me. Thanks to broader shifts in EU pension and long-term investment rules, pension capital can now engage with the private and venture markets.”

Founded in 2025, Aspire11 is a pension-focused investment platform aiming to deploy capital over the next five years into growth-stage companies and VC investors globally. Its mission is to activate long-term pension capital (20–30 years) for private markets, letting pension funds access the growth of generational companies beyond public markets.

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Founder Pavel Mucha previously launched KAYA VC, co-founded Orbit Capital, and backed successful CEE ventures including Rohlik Group, Mews, Booksy, and DocPlanner. He has also been an LP in Seed VC funds behind Revolut, PhotoRoom, Incident, and Yoco.

The platform focuses on growth companies with “strong products, entrepreneurial DNA, and outstanding execution, as well as on exceptional early-stage VC investors who invest with conviction in breakthrough technologies, demographic shifts, and who share the belief in a world of abundance“.

The first pension savers will access Aspire11 via Rentea, the Czech pension company under Partners Group. Inspired by the Canadian Maple Model, Aspire11 addresses Europe’s low startup exposure just 0.02% of assets aiming to improve returns for retirees and close the global competitiveness gap.

“For years, the pattern has been the same. European private markets have not been deep enough, and their progress has been painfully slow. Entrepreneurs across the continent have been scrambling for patient, long-term capital inside Europe so they can build at scale, while VC investors have been forced to seek liquidity overseas. The contrast with the depth of North American markets has been obvious and has long screamed for change,” said Mucha.

Aspire11 removes the pressure of quick exits and ownership changes, letting entrepreneurs and VC investors focus on building long-lasting, industry-leading businesses. The fund invests in private markets with a long-term view, prioritising low fees, active support, and strengthening pensions.

With Tribes, Aspire11 backs early-stage VC investors, building groups of ambitious founders focused on emerging technologies and demographic trends. With Eternals, it supports companies for 20+ years, helping them create long-term generational value through strong execution.

Mucha added: “We designed Aspire11 to back both lifelong business builders and frontier VC investors. With Tribes, we commit ourselves to the next wave of high-conviction VC pickers. Through Eternals, we are ready to support companies not just for years, but decades, to buy them time to win.”

Partnering with Rentea, part of Czech financial group The Partners Group and a key LP of Aspire11, the fund shows that pension capital invested with top VC investors and entrepreneurs benefits everyone, creating long-term prosperity.

The Partners Group manages €7 billion across investments, pensions, and deposits, serving two million clients in four European countries, making it a strong collaborator for Aspire11’s vision for European pension funds.

“Aspire11 invites entrepreneurs and VC investors to join in growing this vision. With a horizon measured in decades, our goal is to turn dormant pension funds into a force that works for the people who have built and served the country, ensuring that life after work is not only secure but also rich in quality and possibility,” said Mucha.

Aspire11’s analysis shows that redirecting just 1% of European pension funds’ AUM could unlock around €87 billion less than a quarter of their average annual yield without harming societal stability. Over the next decade, this could generate over €1.1 trillion through growth and compounding.

Europe’s new economy remains underfunded, relying heavily on foreign capital. EU pension funds allocate only 0.02% of assets to venture capital, compared with nearly 2% in the US. Aspire11 aims to expand globally while keeping Europe a key focus.