From €250M to €1B? Plural’s third fund could be Europe’s largest ever by a startup founder VC
- ByStartupStory | January 23, 2026
London-based venture capital firm Plural is reportedly planning a new investment fund that could reach €1 billion. If successful, this would make the fund one of the largest ever raised by a European VC firm.
The new fund will be the UK VC’s third since launch, coming four years after its first two vehicles – a €250 million fund in 2022 and a €400 million fund in 2024.
So far, Plural has backed some of Europe’s boldest technology firms, including nuclear fusion startup Proxima Fusion, defence tech decacorn Helsing, and spacetech The Exploration Company.
According to the report, the UK VC is in early talks with potential investors and hopes to attract capital from both European and international backers.
A €1 billion target would place Plural among the largest funds ever raised by a European venture capital firm. Instead of just providing money, it leverages its founders’ operator background to help portfolio companies scale by offering hands-on support and strategic advice.
Closing Europe’s venture market gap
Plural was founded in 2022 by experienced tech founders and early investors, including Taavet Hinrikus, Sten Tamkivi, Ian Hogarth, and Khaled Helioui.
The firm was created after its founders noticed a clear gap in Europe’s venture market. Plural says most European investors have never built tech companies themselves.
Only around 8% of investors in Europe have a background as former operators; in contrast, more than half of investors in the United States do. The founders of the venture capital firm believe that this hands-on experience, complete with its bumps and lessons, is crucial to helping new startups evolve into successful global businesses.
They describe themselves as a hands-on investor. Instead of just writing checks, the partners work closely with the startup founders, sharing their own experiences to help steer early decisions.
The firm focuses on leading early-stage funding rounds, typically investing between €1 million and €10 million to support these budding ventures.
Fundraising is still at an early stage, and the final size of the fund has not yet been confirmed. However, the UK VC Plural has not commented publicly yet.
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