Earlybird Closes €360M Fund VIII Targeting AI, Deep Tech, and Defense
Earlybird Venture Capital closed its eighth fund at €360 million in 2026, bringing its assets under management to between €2 billion and €2.5 billion. The fund will focus on AI applications, foundation models, software infrastructure, deep tech, health, and defense or dual-use technology sectors.
Earlybird's Fund VIII close at €360 million brings the firm's total assets under management to roughly €2 billion–€2.5 billion, a scale that positions it among Europe's more substantial early-stage investors. The firm has historically backed companies from pre-seed through Series A, and its multi-fund structure allows it to deploy capital across different stages and strategies simultaneously.
The fund's sector allocation spans AI applications, foundation models, software infrastructure, deep tech, health and life sciences, and defense or dual-use technology. Earlybird also operates its EagleEye platform, which appears to play a role in how the firm evaluates potential portfolio companies. The September 2026 announcement follows earlier coverage from June 2026, suggesting continued momentum in European venture fundraising.
This fund close could signal growing investor confidence in European deep tech and defense-related startups, a shift that may redirect capital toward longer-horizon, capital-intensive ventures. Founders in AI and infrastructure may find more competitive funding options, while those in unrelated sectors could face a tighter market as capital concentrates in priority areas. Defense and dual-use investment may also influence public perception of venture capital's role in national security, with both economic and ethical implications for the broader startup ecosystem.