Begin Capital has launched its second fund, totaling $100 million, to focus on deep tech investments. The firm targets sectors including AI infrastructure, hardware, silicon, and physical AI, with a particular emphasis on European talent. Investment sizes range from $500,000 to $8 million, covering stages from pre-seed to Series A.
The firm has appointed three founders as venture partners: Flaviu Radulescu of Runware, Elias Schneider of Codesphere, and Dan Lifshits of Dwelly. These individuals, alongside other founders acting as limited partners, are expected to enhance the firm's deal-sourcing capabilities. The investment team includes Alex Menn, Ruslan Sarkisyan, Joël Van Dijk, and Saagar Bhavsar.
Fund II has already completed nine investments, including companies such as All3, SurrealDB, AregAI, Crewline, xmemory, DesignVerse, Zencoder, and Tomorrow Things, with one additional project in stealth. The firm aims to secure early stakes and build ownership in successful companies, maintaining reserves to participate in subsequent funding rounds.
Begin Capital's first fund, launched in 2020, completed 28 investments. The firm reports that this initial fund ranks in the top 1% of its vintage globally. Recent portfolio activity includes Begin's participation in funding rounds for Runware, which raised $13 million and $50 million, and Dwelly, which secured £69 million and $170 million.
