European early-stage venture capital firm Entourage has closed its second fund at €100 million, just over two years after launching its first fund in 2024. The firm initially aimed to raise €75 million but reached its target within two weeks. Due to strong investor interest, it later increased the fund size to €100 million.
Entourage was founded by Pieterjan Bouten, co-founder and former CEO of Showpad. The firm focuses on investing in early-stage technology companies across Europe, helping promising startups grow their businesses and develop their products.
Since launching in 2024, Entourage has invested in several European technology startups, including cybersecurity company Aikido Security, AI-powered research startup Conveo, and legaltech company Lexroom. Aikido Security achieved unicorn status earlier this year, while Conveo recently raised a $50 million Series A round. Lexroom reached €30 million in annual recurring revenue within 24 months.
Entourage backed all three companies at an early stage, before they attracted larger international venture capital investors. These investments highlight the firm’s focus on identifying promising startups early and supporting their growth as they expand their businesses.
“When we launched Entourage two years ago, we had a simple ambition: to back the next generation of legendary founders. We wrote the first cheques into companies like Aikido, Conveo and Lexroom. What these founders have achieved in such a short time has only strengthened our conviction in our generalist, founder-first approach. With Fund II, we’re doubling down, “said Pieterjan (PJ) Bouten, Founder and General Partner of Entourage.
With its second fund, Entourage plans to invest in around 25 early-stage companies at the pre-seed and seed stages. The firm will focus on startups across Europe and other markets.
Entourage plans to invest between €1 million and €5 million in each company. It will also keep additional funds available to support startups as they grow and raise more money in future funding rounds.
Unlike its first fund, which mainly focused on software companies, the new fund will support a wider range of technologies. These include artificial intelligence (AI), enterprise software, robotics, physical AI and deeptech.
“The next decade will produce some of the most iconic technology companies in history, and it’s time for Europe to rise to the occasion. AI is reinventing software and taking intelligence into the physical world. Entire industries will be rebuilt. We want to back the founders bold enough to lead that transformation, “said Bouten.
Entourage also gives founders more freedom to run their companies. Although the firm leads or co-leads most of its investment rounds, it rarely takes a seat on the company’s board. This approach allows founders to make decisions and manage their businesses with greater independence.
