Acurio Ventures announced the closing of Acurio Secondaries I FCR at €115 million, surpassing the European venture capital firm’s original fundraising target. The new vehicle was established to address the growing demand for liquidity across Europe’s venture capital ecosystem. As venture-backed companies remain private for longer and traditional exit activity remains uneven, investors, founders, employees, and fund managers are increasingly turning to secondary transactions to generate liquidity from existing holdings.
Secondary funds typically acquire interests in venture capital funds or shares in privately held companies from existing investors. These transactions can provide sellers with an opportunity to realize returns before an initial public offering, acquisition, or another conventional exit while allowing buyers to gain exposure to more mature venture-backed assets.
Acurio Ventures said the European venture capital market has reached a stage where liquidity has become one of the most significant challenges facing both managers and investors. Acurio Secondaries I was launched to help address that need while supporting the continued development of the broader European technology and startup ecosystem.
The closing brings Acurio Ventures’ total assets under management to more than €450 million. The firm operates from offices in Bilbao, Madrid, and London and has invested across more than 16 countries. Its broader investment platform encompasses direct startup investments, fund investments, and secondary-market strategies.
Acurio Ventures primarily invests in early-stage companies from pre-seed through Series B, although the firm may invest at adjacent stages when appropriate. Its initial investments can reach €3 million, and the firm generally targets companies with strong unit economics, capital-efficient business models, and credible paths toward long-term profitability.
The firm has built a portfolio spanning software, financial technology, education, marketplaces, travel, cybersecurity, healthcare, mobility, and other technology-enabled industries.
Its previous investments include Jobandtalent, a job-matching and workforce-management platform; Exoticca, an online travel company offering curated international vacation packages; and Innovamat, an educational technology business developing mathematics curricula and digital learning tools for schools.
Acurio Ventures has also backed Ironhack, a technology education provider offering training programs for digital careers, and Indexa Capital, an automated investment management platform. Other portfolio companies include Keyway, an AI-powered real estate investment manager, and IntelexVision, which develops artificial intelligence technology for behavioral and threat analysis.
The portfolio also includes Lime, a global shared micromobility operator, and Teton.ai, a healthcare technology company that uses privacy-focused computer vision and artificial intelligence to monitor patients and senior living residents, help prevent falls, and reduce nursing workloads.
Acurio Ventures believes there are strategic benefits to operating across both direct venture investing and the market for venture fund interests. Its direct investment activities provide the firm with exposure to emerging technology companies, while its secondaries strategy gives it another channel for investing in established venture assets and providing liquidity to participants across the ecosystem.
The secondaries fund may also benefit from the expansion of the European venture market over the past decade. As more venture funds have been launched and a larger number of startups have raised successive private financing rounds, the amount of capital held in illiquid private-market positions has increased.
This development creates potential opportunities for specialist investors capable of evaluating fund portfolios, individual company stakes, and more complex secondary transactions.
Acurio Ventures’ fund-of-funds activities have similarly focused on giving investors exposure to European venture capital managers. This approach can provide greater diversification than investing in an individual startup or a single traditional venture fund while enabling limited partners to access a broader selection of managers and portfolio companies.
With Acurio Secondaries I reaching €115 million, the firm is positioned to participate more actively in a part of the European venture market that has become increasingly important as investors seek liquidity, portfolio management flexibility, and access to established private technology companies.
