Moonfire Ventures Secures $115 Million to Support European Startups Using Web3, AI Tech & More
Moonfire Ventures, a UK-based AI-driven VC, has managed to acquire $115 million in latest funding to use for supporting European startups that use Web3, AI, VR and AR tech to disrupt the fields of gaming, health, finance and work.
London-based Moonfire Ventures has announced that they have successfully managed to secure $115 milion in its second fund, aimed at supporting early-stage startups in Europe that look to innovate in gaming, health, work and finance by utilizing Web3, AI, VR and/or AR technologies.
Moonfire Ventures is an AI-driven VC that combines its AI engine with human expertise to find promising and overlooked founders and teams. They cite LiveFlow, an advanced financial reporting tool, as a successful example of this unique approach, though not as their only successful investment. Overall, the venture capitalist has invested in almost 50 companies to date, co-investing alongside Accel, Sequoia, Index and General Catalyst.
The UK investment firm managed to secure $60 million in their first seed fund back in 2021, and now they’ve managed to acquire $90 million for “Fund II” as well as $25 million for an Opportunity Fund meant to “double down on the winners,” totaling to $115 million new funds to use for investing in disruptive companies. Some of the projects the UK firm has invested in so far, particularly in the field of blockchain gaming, include Ember Sword, GOALS, Immortal Game and Amihan.
According to their announcement, they claim that their AI-first approach makes it possible for them to “review up to 50,000 companies every week.” More details can be found in the Twitter thread down below, as well as in the official announcement article linked in the beginning tweet.