Carles Reina’s launch of Baobab Ventures, a €12.9 million fund focused on early-stage AI and robotics startups, has sent ripples across the European tech scene. As a serial entrepreneur, I view this strategic move not only as a boon for startups but as a vital grasp on the evolving needs of early-stage founders, especially in the DeepTech domain. Reina’s experience, coupled with his focus on operator-led support, aligns with the shifting investment landscape where capital-intensive, groundbreaking ideas meet founder-focused backing.
Why Baobab Ventures Stands Out
With Reina’s existing track record of identifying early-moving category creators, Revolut revolutionized fintech while ElevenLabs engineered voice AI to unicorn status, the foundation of Baobab Ventures is rooted in operational expertise and deeptech specialization. What makes Baobab stand out is the solo General Partner structure, a rare occurrence in Europe, signaling a hands-on approach to growing high-potential startups. What excites me most about this fund is its commitment to enhancing founder momentum through rapid GTM (go-to-market) strategies, weekly iterative product launches, and technical founder alignment. These priorities reflect the fast-paced breakthroughs necessary to scale AI and robotics startups globally in today’s competitive markets.
According to Reina, the fund will write checks averaging €259–302k for pre-seed and seed-stage startups, with about 50% of investments focusing on Europe. This funding structure is critical for emerging AI and robotics ventures, as nearly 85% of founders in this space struggle with early scaling and customer acquisition. Resources like focused GTM strategy and talent hiring can be game-changers for startups looking to achieve market traction.
Lessons for Startups: Insights from Growing with Operator-Led Funds
1. Start with Market Traction, Not Product Alone
Reina’s emphasis on building momentum aligns with my philosophy as a founder, speed is paramount. While the core product is important, a startup grows fastest when its market traction supports it. Founders can focus on experiments like PLG (Product-Led Growth) integrated with PLS (Product-Led Sales), tracking user adoption and refining distribution channels.
2. Striking Balance Between Vision and Technical Excellence
The founders Reina supports are inherently bold, envisioning global scalability while remaining technically skilled and product-obsessed. This balance is crucial. For startups, founders should avoid the pitfall of over-focusing on technical innovation without regularly validating market fit. Founders must not only build quickly but also listen actively.
3. Leveraging European Ecosystems
Baobab Ventures fills an evident gap in the European investment landscape: a fund that prioritizes operator-led mentorship and practical support. Entrepreneurial ecosystems across Europe are maturing with growing government focus and initiatives such as C4 Ventures and Expeditions supporting AI innovation.
Examples of Baobab Ventures Investments
While Baobab Ventures has only just been launched, it has begun generating traction:
- Theker Robotics: A European robotics company providing specialized AI-equipped systems.
- Altan AI: Building collective AGI platforms for next-gen artificial intelligence.
- Murphy AI: Developing debt-collection technology using automation.
These early investments highlight Baobab Ventures' dedication to companies with a technical edge, global focus, and scalability potential. Startups building solutions across robotics and AI should carefully examine these examples for clues on market demands and investment appeal.
How to Attract Operator-Led Investment
For startups aiming to secure support from operator-led funds like Baobab Ventures, here’s a 5-step roadmap:
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Refine Your Value Proposition for GTM
Investors like Reina prioritize startups that understand their go-to-market strategy. Be clear about how your product attracts users, provides value, and grows customer engagement. -
Build Product Iteratively
Weekly updates on your product and measurable milestones, such as pilot users or partnerships, demonstrate momentum. A prototype that incorporates feedback early on is sure to catch funders’ attention. -
Highlight Technical Expertise with Scaling Capability
Technical excellence matters, but investors will want to know how you can scale beyond initial functionality. Demonstrate the robustness of your tech and its applicability to multiple use cases. -
Market-First Vision
Prepare to articulate how your startup fits into the current market trends, not simply what your innovation achieves. Funds like Baobab are not just looking for ideas, they want products that align with global scaling potential. -
Focus on Team & Talent
Strong teams deliver results. Highlight key talent, leadership capability, and your roadmap for hiring critical positions early on.
Common Mistakes to Avoid
Even the most promising startups can falter when pursuing funding. Learn from others’ mistakes:
1. Over-Pitching the Product Without Context
Investors seek return. Founders who focus entirely on technical explanations may miss the larger picture. Numbers, market needs, and scalability solutions matter.
2. Ignoring Market Validation
One of the most frequent errors is failing to validate the demand for the product. Before approaching operator-led funds, ensure your early adopters or audience resonate with your innovation.
3. Underestimating GTM Strategy
A robust GTM isn’t optional, it’s vital. Lacking clear plans on customer acquisition or distribution frequently turns investors away.
The European Scene: AI & Robotics Trends
Europe remains ripe for startups. With over €235 million invested in AI and robotics across 2025, DeepTech innovation has become the continent’s strength. Moreover, companies like mimic and Sunrise Robotics have achieved unparalleled success due to funding support suited for niche verticals. Reina’s fund signals further global support originating out of Europe, aligned with broader pushes for AI sovereignty and innovation hubs.
Conclusion: A Strategic Opportunity
Baobab Ventures introduces a forward-looking strategy critical to early-stage growth in AI and robotics startups. The fund’s operator-focused, hands-on backing supports founders striving for speed, scalability, and market leadership. For entrepreneurs, the opportunity offered by Reina’s fund is unparalleled in Europe today, especially with its specialized focus on closing the AI-deeptech investment gap.
I encourage startup founders to approach Baobab Ventures with a sharp focus on technical innovation, distribution, and bold vision. The timing is ideal: as European tech zones evolve and investor expectations rise, partnering with investment powerhouses like Baobab Ventures could place emerging companies directly into the innovation spotlight.
FAQ
1. What is Baobab Ventures, and who founded it?
Baobab Ventures is a €12.9 million solo GP fund focusing on early-stage AI and robotics startups. It was founded by Carles Reina, a serial entrepreneur and angel investor known for early investments in companies like Revolut and ElevenLabs. Learn more about Baobab Ventures
2. What is the primary focus of Baobab Ventures' investments?
The fund focuses on pre-seed and seed-stage startups operating in AI, robotics, and defense technology, with an average investment size of €259–302k. About 50% of the investments are concentrated in Europe. Find insights about Baobab Ventures
3. What makes Baobab Ventures unique compared to other funds?
Baobab Ventures stands out as an operator-led, solo General Partner fund, offering hands-on mentorship and practical support for startups targeting rapid go-to-market success and scaling strategies. Discover why Baobab is unique
4. Who are some of the notable investors in Baobab Ventures?
The fund is backed by notable Limited Partners, including Cendana Capital, Isomer Capital, RSJ Investments, Emergence Ventures, and individuals like Mario Götze, Carles Cuní, and Dr. Fatima Godall. Read details on Baobab's investors
5. What early-stage investments has Baobab Ventures made?
Baobab Ventures has backed startups like Theker Robotics, specializing in AI-equipped systems; Altan AI, which develops collective AGI platforms; and Murphy AI, focused on debt-collection technology via automation. Explore Baobab's portfolio startups
6. How does Baobab Ventures support its portfolio companies?
The fund emphasizes hands-on support for founders through rapid go-to-market strategies, iterative product launches, customer acquisition acceleration, and direct founder alignment. Learn about Baobab's operational approach
7. How does Baobab Ventures address gaps in the European investment landscape?
Baobab Ventures aims to fill the gap for operator-led mentorship and support for DeepTech founders, focusing on scaling, technical expertise, and market alignment. Learn more about the European DeepTech investment gap
8. What types of founders does Baobab Ventures look for?
The fund seeks bold, technically skilled founders with global scalability ambitions who are eager to balance vision with market fit and product alignment. Discover Baobab's founder philosophy
9. How does Baobab Ventures contribute to the success of its startups?
Baobab provides resources for hiring early-stage talent, refining product strategies, and establishing strong customer acquisition channels to help startups achieve growth momentum. Understand Baobab's contribution to startups
10. How is Baobab Ventures positioned within the evolving European VC market?
Baobab Ventures aligns with the growing trend of operator-led funds in Europe, focusing on DeepTech and AI innovations, and complements other regional funds like C4 Ventures and Expeditions. Learn about the European VC landscape
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 Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
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 POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.