Nauta Launches Sixth Fund with 60 Million Euros at First Closing

European venture capital investor Nauta has announced the first closing of its sixth fund at 60 million euros. The fund’s total size is expected to grow to between 150 and 200 million euros by the second half of 2027. The British Business Bank is once again the largest investor, contributing 30 million euros. The new fund focuses on European startups in the fields of B2B software, artificial intelligence, and deep tech.

Nauta invests from the pre-seed phase through Series A and has offices in London and Barcelona. With its sixth fund, the investment firm is continuing the investment strategy it has followed for more than 20 years.

British Business Bank Invests Another 30 Million Euros

The British Business Bank is serving as the anchor investor in the first closing and is providing half of the 60 million euros committed to date. This marks the British development bank’s fourth investment in a Nauta fund.

Other investors include SETT, Merifin Capital, and the Institut Català de Finances. They are joined by institutional investors and family offices from the United Kingdom, Continental Europe, Latin America, and the Middle East.

According to Nauta, approximately three-quarters of the investors in the first closing come from the pool of existing investors in previous funds. The remaining quarter consists of new investors.

With a targeted final fund size of 150 to 200 million euros, Nauta says it would increase its total assets under management to approximately 750 million euros.

Focus on B2B Software and Specialized Industry Solutions

Nauta traditionally focuses on software companies that transform business processes in major industries. These include, among others, tourism, financial services, retail, and human resources.

Capital efficiency is a key selection criterion. The investor seeks companies that can develop scalable software products and long-term competitive advantages with a relatively limited capital investment.

Among its previous investments is Lodgify, a provider of software for managing short-term vacation rentals.

With Unravel and Acai Travel, Nauta has also invested in companies that use artificial intelligence for travel bookings and customer service in the tourism industry, respectively.

Nauta Labs also invests in DeepTech

In addition to traditional B2B software companies, Nauta also supports technology-intensive startups in very early stages of development through its Nauta Labs initiative.

The initiative is part of the same fund structure and focuses, among other things, on high-performance computing, AI infrastructure, cybersecurity, industrial automation, digital health infrastructure, and new energy technologies.

In doing so, Nauta is expanding its existing software strategy to include companies whose technologies often require significant research and development investment.

One example is Universal Quantum. The British deep tech company is working on developing a quantum computer with one million qubits.

The Berlin-based cybersecurity company NetBird is also part of the portfolio. Nauta invested in the company as early as the pre-seed phase. Most recently, NetBird closed a Series A funding round of $10 million.

More Than 100 Portfolio Companies in Two Decades

Since its founding more than 20 years ago, Nauta has, according to its own figures, funded more than 200 founders in approximately 100 companies.

According to Nauta, more than 25 exits—including investments in Brandwatch, Holded, and Connectbase—have generated a total exit value of nearly three billion euros to date. This figure represents the value of the company sales and not the direct returns to the investor.

Among its better-known past investments is Brandwatch, a provider of social media analytics and consumer intelligence software.

The investment firm currently employs around 20 people and, according to its own figures, manages more than 600 million euros.

Final closing planned for 2027

With its sixth fund, Nauta aims to further expand its presence in the European early-stage market. The capital commitments of 60 million euros initially form the basis for this.

However, the target fund size of up to 200 million euros has not yet been reached. By the planned final closing in the second half of 2027, Nauta must raise an additional 90 to 140 million euros.

The strategy combines established investment areas such as B2B software with new technological focuses in AI infrastructure and DeepTech. This combination in particular could prove relevant for investors, as software companies are increasingly having to grapple with technological changes driven by AI.

With the British Business Bank’s renewed commitment and a high proportion of returning investors, Nauta already has a foundation for the fund’s continued placement. However, the final size of the sixth fund will only be determined by upcoming capital commitments.