Acurio Ventures has expanded its investment platform with the successful close of Acurio Secondaries I FCR, a venture capital secondary fund valued at approximately €115 million.
The newly established vehicle is dedicated exclusively to acquiring fund-level secondary positions in European venture capital funds, marking another strategic step in the firm’s growing presence across the continent’s investment ecosystem.
Fund Targets Liquidity Opportunities in Mature VC Portfolios
The new secondary fund has been designed to address increasing demand for liquidity within Europe’s venture capital market.
By purchasing interests in existing venture capital funds, the vehicle offers fund managers and investors an opportunity to unlock capital while supporting the continued development of established portfolios.
Acurio Ventures expects the fund to complete its investment program within the next 18 to 24 months.
Its strategy centers on mature early-stage venture capital funds that have been operating for more than eight years, with portfolios that feature identifiable value drivers and realistic exit opportunities expected over the following two to three years.
Broad Investor Participation Supports Fundraising Success
The fundraising attracted backing from more than 35 family offices, alongside technology entrepreneurs, pension funds and other institutional investors.
Their participation reflects growing interest in specialized secondary investment strategies that provide flexibility and liquidity within the European venture capital landscape.
The firm said the vehicle has already built significant momentum, having committed close to €45 million shortly after its launch.
Secondary Strategy Complements Existing Venture Capital Platform
The new fund adds another dimension to Acurio Ventures’ investment offering, complementing its existing direct investment activities.
Alongside the secondary strategy, the firm manages three additional funds dedicated to investing directly in European seed-stage and Series A technology companies.
Its most recent direct investment fund, Acurio Ventures III, exceeded €150 million when it closed in 2024 and remains actively deploying capital.
The portfolio currently includes more than 40 companies across Europe’s startup ecosystem.
Extensive Startup Portfolio Includes Leading European Scaleups
Through its direct investment vehicles, Acurio Ventures has invested in approximately 120 European startups, backing businesses from their early growth stages through expansion.
Among the firm’s portfolio companies are several well-known European technology scaleups, including Seedtag, Voy, Preply, Jobandtalent, Indexa Capital, Lingokids, and Refurbed, reflecting its long-standing focus on high-growth technology businesses.
Leadership Team Operates Across Four European Cities
Acurio Ventures’ operations are supported by a team of 17 professionals working from offices in Bilbao, Madrid, Barcelona, and London.
The firm is led by Ander Michelena, Kate Cornell, Diego Recondo, and Hugo Fernández-Mardomingo, who oversee both its direct venture capital investments and its expanding secondary investment platform.
Growing Demand Drives Expansion Into Venture Capital Secondaries
The launch of Acurio Secondaries I FCR highlights the increasing importance of secondary transactions within Europe’s venture capital industry.
As more venture funds mature and investors seek liquidity before portfolio exits, specialized secondary funds are becoming an increasingly significant source of capital while providing flexibility for both fund managers and limited partners.
Summary
Acurio Ventures has completed the launch of Acurio Secondaries I FCR, a €115 million fund focused exclusively on secondary investments in European venture capital funds.
Backed by more than 35 family offices, entrepreneurs and institutional investors, the fund has already committed nearly €45 million and aims to complete its investments within two years.
The launch strengthens Acurio Ventures’ broader investment platform, which also includes direct investments in more than 120 European technology companies through its venture capital funds.
