Frontier Tech

Backed 3 is the third investment vehicle of Backed VC, closing at approximately $100 million. The fund marks a milestone as Backed VC makes its 100th investment into European deep‑tech and frontier technology companies.The strategy is to back ambitious, early‑stage founders building globally significant companies in three core verticals: AI‑native therapeutics; blockchain and banking infrastructure; and industrial/manufacturing automation. Ticket sizes are set at $500,000 to $5 million, targeting pre‑seed and seed rounds, and the firm is increasing its presence in the U.S. to source transatlantic founders and support follow‑on capital.Limited partners comprise a mix of institutional allocators (including fund‑of‑funds) and over 50 family offices and founder‑LPs, with nearly half the fund coming from institutions. Through its community‑driven model, Backed VC aims to leverage its network of events and founder‑LP recycling to accelerate deal flow, syndication and talent mobility between Europe and the U.S.By focusing on frontier technology sectors and providing long‑horizon capital to founders with global ambition, Backed 3 positions itself to help unlock Europe’s next generation of platform companies — building with a mindset to compete at the highest level rather than settling for convenience plays.

The fund is designed as a European closed‑end venture capital vehicle managed by Kibo Ventures. It aims to back early‑stage software businesses with global ambition, leading or co‑leading pre‑series A and series A rounds. Its investment policy places a geographic emphasis on companies whose center of operations, management or strategic base is in Spain, with the intention that at least two‑thirds of invested capital goes into Spanish companies. The duration of the fund is estimated at ten years from the first close, extendable by up to two additional one‑year periods, and it targets a portfolio of B2B software companies with differentiated technologies and scalable international models. Typical checks are in the order of ~€2 million into early‑stage rounds, seeking minority positions (~10‑20%) in companies ready to scale, demonstrating product‑market fit and growth potential.

Spark Capital VIII is an early stage VC fund managed by Spark Capital, out of Boston, Massachusetts. The $770 million fund will invest in early stage companies across a variety of sectors. Spark Capital's portfolio is composed of companies in the following sectors: Crypto & Fintech, AI, Frontier tech, Marketplaces, Enterprise & Consumer. Gunderson Dettmer represented Spark Capital in the formation of Spark Capital VIII.

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.