TL;DR: Europe's Startup Ecosystem Levels Up with Onstage’s €11.3M Fund
London's Onstage launched a €11.3M venture fund aimed at empowering pre-seed and seed-stage startups, marking Europe’s ambitious step towards a Y Combinator-style ecosystem, but with a strong focus on funding rather than mentorship. The fund plans to invest in 80 startups over three years, prioritizing sectors like tech, deeptech, climate, and SaaS while addressing Europe's fragmented VC landscape. Backed by prominent investors and featuring innovative demo-day connections, Onstage is reshaping early-stage funding, bridging the gap for European founders seeking global success.
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London’s €11.3M Venture Fund: Europe’s Answer to YC?
Europe’s startup ecosystem just got a major boost. Onstage, a London-based platform known for orchestrating Europe’s largest demo day, announced its bold step into venture capital with the launch of its €11.3 million ($12.5 million USD equivalent) fund. Dubbed as Europe’s potential answer to Y Combinator, this initiative is geared toward helping early-stage founders thrive in a landscape that’s been historically fragmented.
What’s the Big Deal About Onstage?
Founded in 2020 by Hector Mason and Taos Edmondson, Onstage quickly became central to Europe’s startup ecosystem. Its massive demo day hosts more than 2,000 startups and connects them with over 330 venture funds, including global giants like Sequoia Capital and Andreessen Horowitz. These demo days have already facilitated over £500 million in startup funding, showcasing the enormous potential of the platform for early-stage founders.
What Makes the €11.3M Fund Different?
Unlike accelerator programs such as Y Combinator, Onstage’s Fund I focuses solely on investing in startups, skipping the accelerator element entirely. Founding partner Joel Hambly envisions this fund investing in up to 80 ambitious startups over the next three years. Hambly says, “We’re building a European equivalent of YC, but with a focus on funding instead of mentorship programs.”
- Fund size: €11.3M (£10M).
- Investment focus: Pre-seed and seed-stage startups.
- Projected timeline: 80 investments over the next three years.
Who’s Backing the Fund?
This isn’t just any venture fund. Onstage’s Fund I boasts an impressive lineup of investors and supporters:
- Peter Simon (President of Simon Sports): Brings U.S. strategic insight and investment.
- Alex Chesterman: A prominent European founder well-known for groundbreaking ventures.
- General Partners from Concept Ventures, Creator Ventures, Chapter One, and Episode 1.
- A curated investment committee featuring influential names like Emma Phillips (LocalGlobe), Laura McGinnis (Balderton), and Jamesin Seidel (Chapter One).
- Blears and Bunch Capital: Offered operational support for fund development.
What Problem Is Onstage Solving?
Europe’s fragmented venture capital landscape often forces founders to spend months, if not years, navigating bureaucratic mazes, struggling to fundraise, and securing connections. Joel Hambly highlights how European GDP trails behind the U.S., partly due to limitations in innovation ecosystems.
The fund aims to bridge this gap by accelerating access to capital, eliminating inefficiencies in fundraising, and helping startups scale more effectively. Onstage prioritizes speed, diversity, and founder-first strategies, marking a break from traditional VC norms.
A European Take on Success
While Y Combinator’s model thrives in Silicon Valley, Europe demands a fresh approach. Onstage’s founders understand this and emphasize their platform’s unique role in deal generation. By leveraging their network of LPs and demo-day expertise, Onstage Fund I could redefine early-stage investing across the continent.
- More than 80 startups planned for funding.
- A majority focus on tech, deeptech, climate, and SaaS sectors.
- Cross-border collaboration with both European and American venture funds.
- Efforts to level up the European GDP by supporting world-class startups.
Onstage has the resources, connections, and backing to become a regional catalyst for startup success, and its timing couldn’t be better, as European founders strive to compete globally.
Key Takeaways: What Founders Can Learn
For entrepreneurs navigating Europe’s startup scene, Onstage provides a vital lesson: networking and strategic funding partnerships can accelerate growth even in competitive economies.
- Build networks early: Europe’s limited access to U.S.-style VC programs demands deeper relationships.
- Emphasize scalability: Focus on global market readiness from day one.
- Diversify funding: Tap into platforms like Onstage for niche support in sectors like deeptech and climate tech.
- Join community-driven initiatives: Demo days like Onstage’s generate invaluable exposure.
With platforms like Onstage racing to revolutionize funding norms, Europe is entering an era of transformative growth.
Final Thoughts: Will This Reshape European VC?
Onstage’s €11.3M Fund is not just a launch, it’s a challenge to rethink how Europe supports founders. As a serial entrepreneur myself, I see the value in tearing down barriers between capital, connections, and startup growth. Europe has lagged behind Silicon Valley for too long. This fund arrives at the crossroads of necessity and ambition, aiming to redefine what it means to succeed on a global stage.
For founders eager to take part, there’s just one task: Leverage opportunities like this, and prove that Europe’s innovations can compete and lead globally. It’s time to dare boldly.
Want more insights? Explore the full story on Silicon Canals.
FAQ on London’s €11.3M Venture Fund and European VC Innovation
What makes Onstage’s €11.3M Fund a game-changer?
Onstage’s €11.3M fund focuses on supporting pre-seed and seed-stage startups without the typical accelerator format, unlike Y Combinator. By hosting Europe’s largest demo day, Onstage builds networks that accelerate funding opportunities, integrating European founders with global investors. Learn more about female startup ecosystems Europe’s Female Founder Ecosystems. For similar trends in European venture capital, see Startups Need Bold Moves.
How does Onstage differ from other venture programs like Y Combinator?
Unlike Y Combinator, Onstage doesn’t run an accelerator program; its fund offers direct financial backing to startups. Joel Hambly, the fund’s leader, aims to redefine founder-first strategies by focusing on deal generation and capital accessibility. For insights on startup scaling tools, explore The Accelerator Advantage.
Who are the key investors in Onstage’s Fund I?
The fund benefits from high-profile backers like Peter Simon of Simon Sports, Alex Chesterman, and LPs from venture firms such as LocalGlobe and Balderton Capital. These investors bring strategic value and global reach. For similar first-time European VC fund dynamics, read Examples from European VC Funds.
How does Onstage address the challenges of European founders?
European founders face fragmented ecosystems and limited funding speed. Onstage’s platform enables founders to access immediate capital and valuable connections, reducing bureaucratic hurdles. For tips on overcoming ecosystem constraints, check Essential Startup Skills for Female Founders.
What sectors will the fund prioritize?
Onstage’s investment focus spans tech, deeptech, climate innovation, and SaaS sectors. Founders in these fields gain access to European and American expertise for global scalability. Discover actionable advice for sector selection Female Founder Trends: What’s Winning, What’s Dying.
How has Onstage impacted funding in Europe?
Onstage has facilitated over £500 million in startup funding through its demo day platform. This fund represents the next step in accelerating European innovation, aiming for 80+ investments in three years. Learn how to design funding pitches for global impact The Female Founder Mindset.
How does Onstage connect founders with investors globally?
Through its standalone demo events, Onstage brings together 2,000+ startups and 330 venture capitalists, including Sequoia and Andreessen Horowitz. The fund deepens these VC relationships for improved cross-border collaboration. For networking strategies, see Female Founder Resources Europe.
What are some key lessons for founders from Onstage’s Fund?
Start early by building networks, prioritize scaling strategies from day one, and explore funding diversity with platforms like Onstage. Learn more about resilience and funding strategies European Startup Funding Lessons.
Why does Onstage emphasize non-traditional VC norms?
Joel Hambly aims to streamline the inefficiencies in classic European VC frameworks by emphasizing rapid funding. The goal is to bridge gaps and empower startups to compete globally without extensive VC bureaucracy. For systemic challenges resolved by new funds, check Tips from CEE Funds.
Could Onstage’s model represent a shift in European venture capital?
Absolutely. By adopting a YC-inspired approach, while customizing it for Europe’s demands, Onstage’s €11.3M fund boldly challenges traditional norms, fostering regional growth and efficiency. For insights into European VC innovation, read Pre-seed VC Sources in Europe.
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the “gamepreneurship” methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the point of view of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.