Capvisory Fund Tracker - Dry Powder Series September 2025
$10.14 billion in fresh venture capital and $72.41 billion in private equity raised for founders
Capvisory is a Berlin-based M&A boutique supporting tech founders in raising Seed to Series B funding and navigating successful exits.
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Each month, we track newly closed venture capital and private equity funds that empower startups on their growth journey. We aim to create the most comprehensive and reliable venture capital fund tracker, tailored to founders and entrepreneurs seeking insights into funds with significant investment capacity.
We focus on funds from Europe, the United States, Canada, Japan and the MENA region. We only feature funds that have successfully completed at least a first closing to ensure they actually have dry powder to invest.
Summary and insights of September 2025
In September 2025, we recorded 58 new venture capital fund closings, totaling $10.14 billion
$61.6M VC Fund: Invests in early-stage fintechs, meeting the needs of financially underserved people globally.
Source$100M VC Fund: Early-stage venture fund, backing crypto founders disrupting the status quo.
$588M VC Fund: Invests in growth companies (Series B onwards or via secondaries) with tickets of €10–30M, and early VC funds.
$400M VC Fund: Opportunity Fund that provides capital to portfolio companies advancing biotech innovation.
$370M VC Fund: Sector-agnostic early-stage fund (Fund IV: $120M) and Growth Fund ($250M) investing in technology companies across the Gulf region.
$152M (First Close), $234M (Target) VC Fund: Growth equity supercharging South European tech scale-ups for international expansion.
undisclosed VC Fund: CVC investing in smart living hardware & software (industrial tech, green buildings, autonomous technologies).
$150M VC Fund: Debut fund investing in AI-first and technology-driven companies solving humanity’s pressing challenges.
$410M (Second Close) Venture Debt Fund: Provides growth debt to finance European tech and life sciences companies.
$88M VC Fund: Generalist pre-Seed specialist, backing up to 50 companies across the UK and Europe.
undisclosed VC Fund: Backs platforms and technologies shaping the AI ecosystem and next frontier of computing.
$380M VC Fund: Opportunity Fund supporting portfolio companies scaling to global, growth-stage cybersecurity leaders.
$58M (First Close), $76M (Target) VC Fund: Backs Vertical AI, recommerce, and marketplaces.
$41M VC Fund: Early-stage venture fund focused on infrastructure startups (developer tools & infrastructure in the age of AI).
$110M (First Close), $164M (Target) VC Fund: Focused on European security, cybersecurity, AI, quantum, and defence.
undisclosed VC Fund: Early-stage investor in AI-driven enterprise innovation in Northern Europe.
$100M VC Fund: Seed fund for AI infrastructure, agentic business applications, and native AI apps.
$30M (First Close), $100M (Target) VC Fund: AI-native healthtech focused on female performance across sports, longevity, and wellness.
$500M VC Fund: Backs startups in cybersecurity, AI, and enterprise software.
$305M VC Fund: Deeptech investor scaling companies in EU strategic sectors (Industry 4.0, AI, cybersecurity, semiconductors, mobility, new materials).
undisclosed VC Fund: Invests in generational companies and accelerates them with executive hires (Software/AI focus).
$30M VC Fund: Venture studio supporting creation & development of next-gen healthcare projects.
$35M (First Close), $58M (Target) VC Fund: Early-stage DACH startups with an AI-focused mission.
$60M VC Fund: Partners with founders defining whole-person health; AI as an enablement layer.
$130M VC Fund: Backs Europe’s best business software & fintech companies through venture and growth stages.
$150M VC Fund: Fund by oneworld alliance and Breakthrough Energy Ventures to advance & commercialize sustainable aviation fuel technologies.
$24M VC Fund: Generalist pre-seed & seed across Baltics/Nordics; software, science, and the “hard stuff.”
$100M VC Fund: Global AI innovation fund targeting AI startups worldwide.
$587M VC Fund: Invests across EU & US tech — software, AI, healthcare, fintech, gaming (direct, primary, secondary).
$560M VC Fund: Invests at the intersection of national security and commercial enterprise (space, autonomy, cyber, advanced sensing, AI-enabled systems).
$29M VC Fund: Dedicated Blue Economy fund tackling ocean challenges (marine intelligence, smart ports, offshore wind, blue biotech).
undisclosed VC Fund: Concentrated portfolio at the frontiers of multiple industries; long-term view.
$625M VC Fund: Accelerates investment in biotech and digital health innovation.
$15M VC Fund: Venture builder co-creating ventures with Canadian leaders; Canada-focused.
$40M VC Fund: Invests in AI & climate tech to build sustainable high-growth companies.
$35M VC Fund: Continuation vehicle acquiring select stakes from existing portfolios to provide LP liquidity.
$30M VC Fund: Invests in energy, industry, and robotics amid soaring global electricity demand.
$425M VC Fund: Leads Series A rounds in top post-PMF companies (generalist).
$246M VC Fund: Climate Tech fund for expansion-stage companies driving energy transition & industrial decarbonization in Europe.
$75.5M VC Fund: Intersection of technology and biology — biotech, techbio, and tech-enabled services.
$330M VC Fund: Early-growth AI-powered software; data moats and product flywheels focus.
$670M VC Fund: Toyota subsidiary investing in early-stage startups; access to Toyota assets & expertise.
$54.5M VC Fund: Circular Economy Growth Fund scaling technologies to eliminate waste and reduce GHG emissions.
$22M VC Fund: Invests in seed-stage startups with a focus on AI, B2B SaaS, and healthtech by Polish founders.
$205M VC Fund: Backs Europe's next wave of tech startups; focuses on Vertical AI, Digital Health, Industrial Software, Cyber Security and Sovereignty.
$80M VC Fund: Supports early-stage healthcare innovations; helps companies harness discoveries to deliver precise, personalized care and reduce costs (Midwest-based).
undisclosed VC Fund: Focuses on early-stage fintech and SaaS investments across MENA (payments infrastructure, digital banking, proptech, insurtech, etc.).
$58M VC Fund: Invests in EU early-stage founders working on grids, storage, and downstream applications in mobility, industry, and real estate.
$135M VC Fund: Focuses on new innovations in energy, mobility, buildings, and industry to drive resilient, decarbonized systems.
$25M (First Close), $50M (Target) VC Fund: North American Seed Fund designed to back high-potential startups from pre-seed through seed stages across the US and Canada.
$800M VC Fund: Targets 20-25 new investments in Series B to late-stage companies developing AI, automation, climate technology, energy, and sustainability.
undisclosed VC Fund: Supercharges early-stage Israeli startups expanding into the US market across multiple industries.
In September 2025, we also counted 25 new private equity fund closings totaling $72.41 billion
$4B PE Fund: Mid-market infrastructure investments in Western Europe; targets telecom, energy, utilities, and mobility.
$2.1B PE Fund: Middle-market PE investing in US companies within business services, industrial services, and tech-enabled services.
$1B PE Fund: Focuses on investment opportunities providing debt and equity capital to sports teams, leagues, and sports-adjacent businesses.
$20B PE Fund: Secondaries program that acquires exposure to existing private equity assets by providing liquidity solutions to GPs and LPs.
$150M PE Fund: Growth equity fund targeting US college athletic programs for capital for roster building, operations, and commercial initiatives.
$342M PE Fund: Targets lower middle-market companies (Revenues $5M-$100M) in the Texas/Sun Belt area; focuses on scalable, cash-generating models.
undisclosed PE Fund: Specializes in proprietary investments in lower middle-market businesses.
$598M PE Fund: Conservative, Europe-focused small- and mid-cap secondaries strategy; targets resilient, cash-generative industries like services and technology.
$7B PE Fund: Middle-market growth buyout strategy, targeting growing companies across the software, financial services, healthcare, consumer, and business services sectors.
$365M PE Fund: Secondaries investment program that builds a diversified portfolio of secondary investments, focusing on middle-market buyout funds and assets.
$3.73B PE Fund: European Infrastructure, providing growth capital to mid-market businesses across the energy transition, digital and mobility sectors.
$704M (First Close) PE Fund: LDIF invests in businesses and assets that advance digital transformation and connectivity, primarily in Europe and the UK.
$1.995B PE Fund: Nordic's largest B2B software investor, focused on turning Nordic software companies into market leaders (hands-on growth investor).
$152M PE Fund: Targets SMEs in Central and Eastern Europe; invests in healthcare, B2B services, consumer products/retail, and niche manufacturing (EBITDA $1M-$5M).
$315M PE Fund: Tertiaries franchise dedicated to buying secondaries stakes in secondary funds (traditional secondary funds or single/multi-asset continuation vehicles).
$3.25B PE Fund: Middle market private equity focusing on industrial, healthcare, and technology sectors in North America and Europe.
$2.5B PE Fund: Targets middle-market companies; focuses on family/founder-owned businesses and carve-outs within technology, industrial, consumer, and healthcare sectors.
$400M PE Fund: Mezzanine and equity investments; targets non-sponsored and independently sponsored middle-market transactions as a control or non-control investor.
$2.28B PE Fund: Lower Middle Market fund that employs the M&A&O® strategy, integrating investment expertise with deep operational capabilities.
$400M PE Fund: Invests in and builds leading middle-market specialty industrial and service businesses, driving transformational growth.
$3.975B PE Fund: Private equity firm focused on buyout and growth investments in leading US-based middle market companies.
$360M PE Fund: Middle-market private equity investing in e-Commerce & Marketing Services, Financial Services & Fintech, Tech-Enabled Products & Services, and Digital Media.
$50M PE Fund: Supports Canadian women in acquiring and operating Canadian companies (Entrepreneurship through Acquisition).
$2.347B PE Fund: Specialist growth buyout investor partnering with tech-enabled and sustainable businesses that help to digitalise and decarbonise the European economy.
$14.4B PE Fund: Focuses on essential, resilient businesses in highly regulated markets; leverages technology to drive value in healthcare, education, energy, and national security.
Did our fund tracker miss anyone in September 2025?
Let us know about any missing VCs or PEs by emailing us at hi@capvisory.de.
P.S. We’re always trying to keep track of all relevant funds to keep our internal investor CRM (tracking 20,000+ investors globally) up-to-date. This resource helps us to kickstart investor funnel creation for every fundraising and M&A project.
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Capvisory is an independent, founder-led advisory boutique specializing in fundraising, sell-side M&A, and buy-side M&A for fast-growing tech companies and their investors.
