London, UK – Baobab Ventures, a new solo GP fund spearheaded by angel investor Carles Reina, has officially launched a €12.9 million ($15 million) fund dedicated to pre-Seed and Seed stage startups in the artificial intelligence, robotics, and defense sectors. The fund's inclusion on venture capitalist Shai Goldman's influential list of new VC funds under $200 million was highlighted in a recent tweet by Goldman.
Carles Reina, known for his early investments in companies like Revolut and ElevenLabs, established Baobab Ventures to provide hands-on operational support to founders. The fund was reportedly oversubscribed and closed in a single round, attracting backing from prominent institutional limited partners including Cendana Capital, Isomer Capital, RSJ Investments, Emergence Ventures, and Cyber Fund. Baobab Ventures plans to deploy capital evenly between European and global markets, including the US, with average investments ranging from $300,000 to $350,000.
The fund's strategic focus on AI, robotics, and defense aligns with a growing trend in the DeepTech sector, which has seen significant capital flow into European startups. Reina aims to leverage his experience in scaling companies to help portfolio founders develop go-to-market strategies, optimize operations, and refine product strategies. The fund has already commenced investing, with early pre-seed deals including Theker (robotics), Altan AI (collective AGI platform), and Murphy (debt-collection tech), alongside other stealth-mode companies.
Shai Goldman's list, which tracks VC funds at or below $200 million, serves as a valuable resource for founders seeking capital. Goldman, a venture capitalist, regularly updates this list to help entrepreneurs identify funds with available "dry powder" for new investments. The inclusion of Baobab Ventures underscores its emergence as a notable player in the early-stage venture capital landscape, particularly for founders in specialized technology domains.