Carles Reina has officially launched Baobab Ventures, a €12.9 million solo GP fund aimed at backing startups in artificial intelligence (AI), logistics, and healthcare sectors. As an entrepreneur myself, having seen the evolution of funding landscapes across Europe, I recognize this move as not just another addition to the region’s venture capital ecosystem, it signals a shift toward the rise of specialized funds that prioritize both innovative sectors and founder-centric investment strategies.
Why This Matters for European Entrepreneurs
Reina is not your average investor. As the first backer of ElevenLabs, an AI-driven voice cloning startup that recently scaled to a $3 billion valuation, his success demonstrates not only an ability to spot early-stage potential but also hands-on operational expertise. Reina didn’t merely throw money at ElevenLabs; he joined as employee #4 to help build the go-to-market strategy, which was a vital piece of its exponential growth. That’s the kind of ‘smart money’ founders crave, an investor who provides more than capital and instead actively contributes to a startup’s trajectory.
Moreover, his portfolio includes investments in Revolut, one of Europe’s most notable fintech success stories. Understanding how fintech markets operate has likely prepared him to identify similarly groundbreaking startups in AI and healthtech, two of Europe’s fastest-growing industries. By leveraging his unique blend of strategic foresight and operational capability, Baobab Ventures may well become a catalyst for groundbreaking early-stage startups across Europe.
Key Sectors in Focus: AI, Logistics, and Healthcare
Artificial Intelligence
AI continues to be the fastest-growing sector for innovation globally, but there’s one crucial consideration Reina appears to understand, that successful AI startups don’t just rely on powerful technology; they need a market-ready product built from the ground up. ElevenLabs stands out precisely because it bridged a technical gap in voice cloning while rapidly finding enterprise applications, ranging from content creation to accessibility tools. AI founders who understand both code and customers, those who build foundational models that can scale across industry verticals, are the prime targets of Baobab Ventures.
Logistics
Reina’s inclusion of logistics may initially seem like an outlier, but if anything, it’s a strategic bet. More European startups are now looking at optimizing the supply chains which underpin global industries. The logistics sector, often overlooked in favor of ‘sexier’ tech topics, is ripe for disruption from innovations like AI-powered route optimization systems, blockchain-based tracking solutions, autonomous delivery systems, and IoT-powered operations hubs. With the continued rise of e-commerce and transportation demands, investments in logistics technology can ripple across global trade networks.
Healthcare
Healthcare, particularly healthtech startups focusing on AI, wearables, and diagnostics, is experiencing impressive growth in Europe. Startups such as Babylon Health and SkinVision have demonstrated how AI can deliver personalized care at scale, allowing essential medical innovation to reach underserved communities. Baobab Ventures’ interest in healthcare aligns with an emerging trend, investing in solutions that reduce costs for both hospitals and insurers while improving patient outcomes. For entrepreneurs, it suggests Reina is capitalizing on a long-term shift toward preventive care and scalable diagnostic technology.
Insights Into a Growing Trend: Why Solo GP Funds Are Gaining Momentum
As someone who has participated in numerous accelerators across Europe, including Yes! Delft and Brightlands, I’ve observed the growing prominence of solo GP funds. These funds are uniquely positioned to act faster than traditional partnerships with multiple decision-makers, and they tend to strike deals that offer long-term patience rather than high-pressure short-term returns. If you’re an entrepreneur building in AI, logistics, or healthcare, this flexibility can be vital, especially when navigating rapid market evolutions.
Reina’s move also speaks to another trend, the rise of domain-specific funds. Unlike massive funds that spread investments across anything promising, Baobab Ventures narrows its focus into sectors where Reina has a clear track record. This specificity is ideal for founders who need not only funding but also mentorship and deep expertise from investors who understand their industry deeply.
How Entrepreneurs Can Leverage This Opportunity
- Understand the Appeal of a Specialized Fund: Investors like Reina want startups that align closely with their expertise. Founders should articulate how their innovation connects with emerging market trends and foundational gaps within AI, logistics, or healthcare.
- Speak to Global Scalability: Reina’s portfolio reflects his willingness to back companies with global ambitions. Highlight how your startup is positioned to scale internationally.
- Be Bold Yet Practical: As Reina famously took a 30-minute meeting before deciding to back ElevenLabs, you’ll need to display both technical mastery and the ability to address large-market problems.
Common Mistakes Founders Should Avoid
- Pitching Without a Real Market Understanding: Reina’s early investments reveal a disdain for crowded markets. Founders who fail to articulate their uniqueness are almost guaranteed to be dismissed.
- Neglecting Execution: Startups may have great ideas, but they often fail because of poor execution. Reina values founders who are willing to roll up their sleeves and build every layer, from product to customer acquisition.
- Overemphasis on Tech Without Application: Don’t be fooled into focusing only on the technology itself. Baobab Ventures favors startups that offer practical, scalable solutions deployed across real-world scenarios.
My Take as an Entrepreneur: Why This Matters
I see Baobab Ventures as far more than just a funding source, it’s an opportunity for founders who need insightful mentorship as much as capital. It’s particularly exciting for Eastern European founders like myself, who see investors like Reina validating the global potential of the European startup ecosystem.
At EU Startups, you’ll find great stories like Reina’s that highlight why Europe’s startup scene is thriving. Entrepreneurs should pay close attention not just to the funding available but to the type of expertise offered, it’s the difference between being funded and being supported.
Conclusion: A New Chapter for Funding Models
Carles Reina’s launch of Baobab Ventures marks a new chapter in how early-stage European startups can access funding. Founders in AI, logistics, or healthcare who emphasize scalability, unique solutions, and deep technical expertise have the best chance of securing funding. Solo GP funds like Baobab Ventures will play an increasingly critical role in shaping how revolutionary ideas become billion-dollar realities. For entrepreneurs, it’s time to seize the opportunity, Reina is not just investing money but creating a legacy of innovation that will shape Europe’s future.
FAQ
1. Who is Carles Reina, and why is he significant in the venture capital world?
Carles Reina is an accomplished angel investor known for early investments in prominent startups like Revolut and ElevenLabs. He also played a hands-on operational role at ElevenLabs, contributing to its massive growth as VP of Revenue. Learn more about Carles Reina
2. What is Baobab Ventures?
Baobab Ventures is Carles Reina’s €12.9 million solo general partner (GP) fund focused on backing early-stage startups in AI, logistics, and healthcare sectors. Explore Baobab Ventures
3. Why is ElevenLabs noteworthy among Carles Reina’s portfolio companies?
Reina was the first backer of ElevenLabs, an AI voice cloning startup, which earlier scaled to a $3 billion valuation. He also joined as their employee #4 to build its go-to-market strategy. Learn more about ElevenLabs’ early growth
4. What sectors does Baobab Ventures focus on?
Baobab Ventures specifically targets AI, logistics, and healthcare startups, emphasizing innovative technologies with global scalability. Check out Baobab Ventures’ sector focus
5. Why is AI a key focus of Baobab Ventures?
The fund prioritizes AI startups because AI drives scalable innovation, and Reina has a track record of success in this field, evidenced by ElevenLabs’ achievements. Discover the importance of AI in Reina’s strategy
6. How does Baobab Ventures support startups beyond funding?
Reina provides “smart money,” meaning active mentorship, strategic guidance, and operational expertise in addition to capital, setting Baobab Ventures apart from traditional investors. Learn more about Baobab Ventures’ founder-focused strategy
7. What is unique about logistics as a sector for investment?
Reina targets logistics startups due to the emerging opportunities for technology-driven disruption, like AI-powered route optimization and blockchain tracking systems. Explore logistics technology opportunities
8. Why is healthcare a strategic investment sector for Baobab Ventures?
Baobab Ventures invests in healthcare startups focusing on personalized care and scalable diagnostics, aligning with trends in AI-powered healthtech innovations in Europe.
9. How did Carles Reina’s role at Revolut position him for success with Baobab Ventures?
Reina’s early involvement with Revolut demonstrated his ability to predict and support disruptive fintech startups. This experience now informs his vision for Baobab Ventures.
10. Why are solo GP funds gaining prominence in Europe?
Solo GP funds, like Baobab Ventures, are more agile and founder-friendly, enabling faster decision-making. Reina’s success exemplifies how specialized funds can thrive. Learn more about the rise of solo GP funds
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.