Pitchdrive funding news – Venture Capital firm Pitchdrive Secures it’s Third Fund of €40 Million

Due to the excellent outcomes of Funds I and II (the latter of which was operated in conjunction with later-stage VC firm Smartfin), their third fund, which has been oversubscribed in less than two months, has attracted a great deal of interest. Initially scheduled to be a €30 million fund, it has now closed at €34 million, and even though pledges have increased by 30%, the fund will be hard limited at €40 million.

They were aware of the importance of having seasoned business owners on board, but they also saw the significant obstacles to scalability and follow-on funding. Keeping this experience in mind, the founders created Pitchdrive, a pre-seed investment household brand in Europe today.

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When startups get their initial funding from seasoned business owners and transition to typical operator-led venture capital in subsequent rounds, their success rates are significantly higher. Itleverages their experience in entrepreneurship to offer pre-seed funding, individualised advisory services, and portfolio network access.

Boris Bogaert, Managing Partner of Pitchdrive, said: “The €40 million investment fund will support 30 European startups over the next two years. Alongside the fund, Pitchdrive has established a new mentor network of 10 successful European entrepreneurs. This powerhouse network will provide personalized guidance and diverse expertise to propel Pitchdrive’s growing portfolio.”

About Pitchdrive

Pitchdrive is a Belgian-based entrepreneur-led early-stage investor, investing in startups all over Europe and providing highly personalized and active support to their portfolio.

The VC is actively managed by Boris Bogaert, Wim Derkinderen and Koen Christiaens (founders of Xpenditure/Rydoo), and has invested in +50 startups over the last years through 2 funds, and has started deploying their third fund. Investments include Belgian Henchman, NineID, Otiv, Bizzy, Fixform, Introw, Oper Credits, Smooved, Brauzz, Picky, UK based Hotel Manager, Happl, Privasee, Greenspark, Dutch Luna, German FoodAmigos, Keaz, Turkish Salus Mental, and much more.