Pitchdrive announced the close of its oversubscribed €60 million Fund IV, reinforcing its Co-founder Capital approach and providing new capital to support 25 to 30 AI-native startups across Europe and beyond.
The fund exceeded its original €50 million target within weeks, prompting the firm to cap the raise at €60 million and decline additional commitments in order to maintain a concentrated portfolio and hands-on support model. Unlike many European venture funds, Fund IV is entirely backed by private investors and does not include government or institutional capital.
Founded by entrepreneurs including Boris Bogaert, Wim Derkinderen, and Koen Christiaens, and chaired by team.blue founder Jonas Dhaenens, Pitchdrive has invested in 70 startups since 2020 and ranks among the top 10% of venture funds globally based on the performance of its first three funds.
The firm has backed companies such as Henchman, which was acquired by LexisNexis, as well as Introw, Heltia, Happl, Axe, Ravical, Conveo, Foodamigos, and Gro. Pitchdrive recently expanded beyond Europe with an investment in New York-based compliance AI startup Zerodrift as part of a $10 million pre-seed round.
Fund IV will focus on AI-native businesses and companies whose economics or products have been fundamentally reshaped by artificial intelligence. Areas of interest include vertical AI, developer infrastructure, agent platforms, AI-enabled marketplaces, consumer applications, and software-defined hardware, robotics, and mobility companies.
Pitchdrive’s model emphasizes close collaboration with founders through a network of more than 20 entrepreneurs and operators from leading European technology companies, including team.blue, Deliverect, Lighthouse, Loop Earplugs, Showpad, Teamleader, Silverfin, and Foodbag.
KEY QUOTES:
“We could’ve raised more. Plenty of LPs were ready. But a bigger fund would’ve pulled us in the wrong direction. The whole point of Co-founder Capital is staying close to the founders we back and rolling up our sleeves with them. You can’t do that across fifty companies. So we keep the number small and go all in on each one.”
Wim Derkinderen, Managing Partner, Pitchdrive
“Kumesh is a repeat founder with a strong track record, so he had access to the biggest names in US venture. Needless to say, this round was highly competitive. That he deliberately wanted a European fund around the table says a lot about where Zerodrift is heading. In AI compliance, a deeply networked European VC on board is a real strategic advantage.”
Boris Bogaert, Managing Partner, Pitchdrive
“When we built team.blue, the kind of investor I wished I’d had on day one didn’t exist in Europe. That’s what Pitchdrive is: a firm run by people who’ve already been in the founder’s seat. Fund IV doubles down on the model: stay small, stay close, stay disciplined.”
Jonas Dhaenens, Chairman, Pitchdrive
