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Google has launched the AI Futures Fund, a strategic initiative designed to empower startups working in artificial intelligence. The fund provides early access to cutting-edge models from Google DeepMind, such as Gemini (for advanced reasoning), Imagen (image generation), and Veo (video generation). These tools give startups a technological edge in developing their AI solutions. In addition to product access, the AI Futures Fund makes direct equity investments in selected startups. Beneficiaries also receive generous Google Cloud credits and hands-on mentorship from Google’s experts in AI research, engineering, and business development. This holistic support model is aimed at helping startups quickly iterate, scale, and go to market. The fund accepts applications on a rolling basis, without fixed deadlines. By offering capital, infrastructure, and deep expertise, Google aims to accelerate the development of transformative AI applications across a broad range of industries.

JMI Equity Fund XII is the twelfth flagship growth equity fund from JMI Equity, launched in 2025 with a target size of $2.4 billion, matching the amount raised by its predecessor, Fund XI. The fund continues JMI's strategy of investing in high-growth software and technology-enabled services companies across North America. JMI typically makes minority and majority investments ranging from $25 million to $250 million in companies with proven business models, high recurring revenue, and strong growth potential. Fund XII is led by Managing Partner Peter Arrowsmith, following a leadership transition in which co-founder Harry Gruner became Executive Chairman. The firm has a team of over 40 investment professionals across offices in Baltimore, San Diego, and Washington, D.C. JMI's investment approach emphasizes partnering with management teams to drive operational improvements and long-term value creation. The fund has attracted commitments from several institutional investors, including the Kansas Public Employees Retirement System ($110 million), Massachusetts Pension Reserves Investment Management Board ($150 million), and New Mexico State Investment Council ($75 million). These commitments reflect confidence in JMI's consistent performance and focus on the technology sector.

Marathon Fund III is the latest €75 million seed-stage fund from Athens-based Marathon Venture Capital. The firm continues its mission to be a “Day One partner” to Greek tech founders, focusing on those building globally competitive companies from the outset. This new vehicle brings Marathon’s total assets under management to €175 million, reflecting the firm’s growing influence in the European venture ecosystem. Marathon’s investment thesis centers on founders addressing complex challenges in significant markets. These challenges often require specialized knowledge, such as advanced research expertise, or navigating regulated and overlooked industries like power grid management. The firm emphasizes capital efficiency and resilience, qualities inherent in the Greek tech community, enabling startups to serve global markets effectively from their inception. The firm has a track record of successful investments, including the acquisition of Augmenta by CNH Industrial for $110 million and a secondary sale of shares in Hack the Box to The Carlyle Group. These exits underscore Marathon's ability to identify and support startups with significant growth potential and global appeal.

Menlo Inflection IV, L.P. is a late‑stage venture capital fund managed by Menlo Ventures, legally domiciled in Delaware with operational headquarters in Menlo Park, California. It was launched in 2025 and belongs to Menlo’s Inflection Fund series aimed at bridging early‑stage investing and mega‑growth funding. The fund targets approximately $800 million in capital commitments, as disclosed in SEC filings in early September 2025. Menlo Inflection IV focuses on companies at the 'inflection stage'—high‑momentum startups with growing product‑market fit, efficient unit economics, and a lower risk profile than typical early‑stage ventures. The fund is expected to collaborate closely with Menlo’s early‑stage funds to identify standout late‑stage opportunities. The general partner leadership team includes Venky Ganesan, Shawn Carolan, and Matthew Murphy, reflecting continuity across Menlo’s recent fund strategy.

PSG Europe II is the firm’s second private equity Europe-focused fund. It has more than €2.6 billion in commitments, exceeding PSG’s initial target. PSGE II is one of the largest growth equity funds raised to invest exclusively in European software companies. The successful fundraise reflects the strong support received from both new and existing investors globally including state pension funds, sovereign wealth funds, family offices and high net worth individuals. PSGE II significantly exceeds the size of its predecessor, PSG Europe I, which held its final close in January 2021 with more than €1.3 billion in commitments. PSG sees the European software sector as highly fragmented with many high-quality point solution providers, often focused on either a single strategy or a single country. This market dynamic presents significant investment and growth opportunities for firms like PSG, which possess local expertise and relationships across Europe to support deal sourcing, extensive operational support capabilities and a longstanding global track record of growing B2B software businesses both organically and inorganically. PSG’s investment strategy focuses on scaling single-country, single-product software companies through organic and inorganic growth into multi-country, multi-product pan-European champions across multiple markets, supporting its portfolio companies’ global growth ambitions. Given its origins, resources and track record in the U.S., PSG can be a strong supportive partner to enable market expansion in North America.

PSG VI is growth fund managed by PSG Equity. PSG is a leading growth equity firm focused on emerging growth, founder bootstrapped, B2B software companies. PSG will target software and tech-enabled businesses across the B2B-software, cybersecurity, big data, and artificial intelligence sectors. Investments will primarily be in North America. The fund makes growth equity investments typically range in size from $10-$150M. As of 2023, according to information from PSG, the firms made 3.5x Gross MoM/ 2.8x Net MoM & 56% Gross IRR / 44% Net IRR on all realized/partially realized investments across platform since its inception.

Pride Capital Partners has held a €75 million first close for Pride Capital Partners Fund III, the latest vintage in its specialist strategy backing later-stage technology companies. The vehicle is targeting €150 million, with a €200 million hard cap, and already counts the European Investment Fund and other repeat backers among its LP base. Fund III will extend Pride’s debt-led, minority-equity approach to B2B software and managed ICT services businesses across Northwestern Europe—principally the Benelux, DACH and Nordic regions. By combining mezzanine loans with selective equity, the firm offers founder-friendly capital that funds organic expansion, buy-and-build programmes and management buy-outs without ceding control. Building on two top-quartile predecessors, PCP Fund III will write tickets of roughly €2–20 million, focusing on companies with scalable recurring revenue (> €3 million) and positive EBITDA. Early deployments include Belgium’s Tyneso and Denmark’s CCIT, illustrating a healthy pipeline as the fund marches toward a final close later this year.

Redpoint Ventures X is the tenth early-stage venture fund from San Francisco-based Redpoint Ventures, a firm with over 25 years of track record in backing transformative technology companies. The $650 million fund matches the size of its predecessor, a strong signal of continued support from limited partners in a challenging fundraising climate. Redpoint maintains its conviction in identifying and supporting high-potential startups from their earliest phases of growth. This early-stage strategy is led by managing partners Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia, who joined the firm in 2021 after serving as GitHub's COO. The fund will continue to invest in areas where Redpoint has shown strong thesis alignment, including AI infrastructure, developer tools, cloud software, and next-gen enterprise solutions. Recent notable investments include Poolside, Cockroach Labs, and Levelpath. Redpoint Ventures X complements the firm’s broader multi-stage platform, which also includes a $740 million growth fund raised in 2024. With a strong track record of exits — including Next Insurance, Tastemade, and HashiCorp — Redpoint aims to partner with founders building enduring, category-defining businesses in complex and fast-changing markets.

TBD VC Fund II is a $35 million early-stage venture capital fund launched by David Citron and Alan Buch, focusing on supporting Israeli deep tech founders. The fund aims to invest in approximately 20 startups, primarily at the pre-seed and seed stages, with initial checks of around $1 million. TBD VC emphasizes a founder-first approach, particularly targeting first-time entrepreneurs building companies in sectors like enterprise AI, cloud infrastructure, cybersecurity, and software-enabled defense technology. The firm operates with a global perspective, leveraging a network of over 45 venture partners, including senior operators from companies such as GitHub, American Express, Epic Games, and Netflix. This network assists portfolio companies in product development and go-to-market strategies, aiming for rapid commercialization. TBD VC's investment philosophy centers on backing deeply technical founders from day one, focusing on long-term value creation over short-term trends. Beyond financial returns, TBD VC is committed to social impact. A portion of the fund's profits is dedicated to supporting organizations that help discharged Israeli soldiers transition into tech careers, reflecting the founders' personal experiences and dedication to national resilience.

Thoma Bravo Fund XVI is the latest flagship buyout vehicle from Thoma Bravo, a leading software-focused private equity firm. Launched in late 2023, the fund successfully closed in mid-2025 with $24.3 billion in capital commitments, making it the largest private equity fund globally for 2024 or 2025. This achievement underscores investor confidence in Thoma Bravo's strategy of acquiring and scaling enterprise software companies. The fund targets 12 to 15 platform investments, each with equity commitments ranging from $900 million to $4 billion. Target companies typically have enterprise values between $2.5 billion and $13 billion. Thoma Bravo employs a "buy and build" strategy, seeking to enhance operational efficiency and drive growth through strategic acquisitions. Fund XVI focuses on sectors such as infrastructure software, cybersecurity, fintech, and enterprise applications. Geographically, the fund targets investments primarily in North America (85%) and Europe (15%). Thoma Bravo's approach involves partnering with existing management teams to implement best practices and accelerate value creation.

Uncork Plus IV is a $75 million opportunity fund launched by Uncork Capital to support the continued growth of standout companies within its existing portfolio. As the fourth vehicle in the Plus series, this fund enables Uncork to maintain long-term partnerships with its most promising startups as they scale beyond the seed stage. While Uncork’s core funds focus on initial investments at the seed level, Plus IV is designed to participate in later-stage financings—typically Series B and beyond—providing flexible, follow-on capital to companies reaching significant inflection points. This approach allows Uncork to deepen its exposure to its highest-performing investments and help them capitalize on major growth opportunities. Uncork Plus IV primarily targets sectors aligned with the firm’s seed strategy, including B2B software, AI, SaaS, infrastructure, and other transformative technology areas. The fund’s capital is exclusively allocated to companies that Uncork has already backed, reflecting deep conviction and continuity in the firm’s investment philosophy. By pairing Uncork VIII with Plus IV, the firm enhances its ability to not only identify and nurture early-stage winners but also to stay involved throughout their journey to category leadership and exit.

Uncork VIII is the $225 million eighth seed-stage fund raised by Uncork Capital, a veteran venture capital firm based in San Francisco. This fund represents a continuation of Uncork’s high-conviction strategy of investing early in exceptional founders building the next generation of transformative technology companies. With Uncork VIII, the firm plans to lead approximately 35 seed rounds, writing larger initial checks than in previous funds. The goal is to secure higher ownership stakes and provide more meaningful early support to startups. This approach reflects Uncork’s belief in deep engagement with portfolio companies from the earliest stages of their growth journey. The fund targets high-potential startups in sectors such as B2B software, developer tools, infrastructure, SaaS, artificial intelligence, and frontier technologies. Uncork aims to be the first institutional check into these companies, helping them scale with strategic guidance and access to its extensive network. Uncork VIII continues the firm’s tradition of being an early backer of industry-defining companies like Postmates, Fitbit, Poshmark, and Eventbrite. With this new fund, Uncork seeks to identify and support the next wave of standout entrepreneurs solving hard problems through software and data-driven innovation.