Entourage closes €100M Fund II for European AI and deep tech

Entourage has closed its second fund at €100 million, exceeding its €75 million target in just two weeks. The early-stage venture capital firm received over €100 million in commitments before finalizing the fund at its €100 million hard cap. This new capital signals a significant expansion beyond the software focus of its first fund, which launched in 2024.

Fund II will target investments in artificial intelligence, enterprise software, robotics, physical AI, and deep tech. The firm plans to back approximately 25 companies at the pre-seed and seed stages across Europe and other markets.

Investment Focus and Strategy

Entourage's second fund marks a strategic broadening of its investment thesis. While the first fund was primarily software-focused, Fund II will target a wider range of deep technology sectors. The firm will invest in AI, enterprise software, robotics, physical AI, and deep tech. This shift reflects the maturing European venture capital ecosystem's move into more complex technological fields.

Portfolio and Founder Support

The fund will make initial investments ranging from €1 million to €5 million. Additional capital is reserved for follow-on funding rounds. Entourage has already built a portfolio of successful companies through its first fund and its venture-building arm, Entourage Studio.

Key portfolio achievements include Aikido Security, which reached unicorn status earlier this year, and Lexroom, which achieved €30 million in annual recurring revenue within 24 months. Another studio-born company, Tekst, an AI-powered enterprise process mining firm, recently raised a €10 million Series A. Entourage has also backed Conveo, which secured a €44.92 million Series A round.

Founder-Centric Approach

Entourage operates on a founder-first philosophy that emphasizes trust, challenge, and perspective. The firm deliberately avoids operational interference with its portfolio companies. Founder and General Partner Pieterjan Bouten states that Entourage almost never takes board seats, even when leading an investment round. This approach is designed to prioritize founder autonomy.

The firm's leadership has deep entrepreneurial roots. Pieterjan Bouten previously co-founded and scaled Showpad, which generated over €89.84 million in annual recurring revenue. He has personally invested in more than 60 companies. To support its expanded scope, Entourage has grown its team and geographic footprint. The investment team now includes partners Pieterjan Bouten, Evert Beeckman, and Maarten Mortier, alongside investors Erwan Gardelle, Sixtine Riescher, and Illja Schiller. The firm has opened a London office and established a presence in Paris.

With its new €100 million fund, Entourage is committed to investing in approximately 25 pre-seed and seed-stage companies across Europe and beyond, focusing squarely on AI, enterprise software, robotics, physical AI, and deep tech.