AI-focused venture investor Curiosity VC launches second fund

Curiosity VC, a Dutch venture investor focused on artificial intelligence, is in the process of building a second fund. The fund has received seventeen million euros in commitments to date, according to Emerce. Curiosity VC has not yet made an official announcement regarding the fund's intended final size.

This is the second time Curiosity VC has raised capital. The investor's first fund also targeted early-stage AI companies, and its successor appears to continue that course. With seventeen million euros in committed capital, the first closing of the new fund is a fact, though the fundraising process is likely still ongoing.

The announcement fits within a broader trend of specialised AI funds gaining ground across Europe and the Netherlands. While generalist venture capital funds invest broadly across sectors, parties such as Curiosity VC deliberately opt for a narrow thematic focus, on the premise that domain expertise yields better deal flow and better support for portfolio companies.

Background on Curiosity VC

Curiosity VC positions itself as an early-stage investor in AI-driven startups. The fund operates in a segment where competition has intensified considerably in recent years: multiple Dutch and European funds have explicitly incorporated AI into their investment thesis, partly driven by the broader rise of large language models and related technology since 2022.

Concrete details about Curiosity VC's existing portfolio, the exact size of the first fund, or the names of the managing partners cannot be confirmed on the basis of available source material. Dutchstartup.ai has reached out to Curiosity VC for additional information.

Market context: AI funds in the Netherlands

The Netherlands has a growing number of investors with an explicit AI focus. Alongside established players such as Peak Capital and Inkef Capital, which incorporate AI as part of a broader technology strategy, an increasing number of funds are using the technology as their primary selection criterion.

Interest from institutional investors, family offices and corporates in this type of specialised fund is growing. A first closing of seventeen million euros for a second fund indicates that earlier investors have confidence in Curiosity VC's approach, though the size of a first closing in itself says little about the fund's ultimate returns or total fund size.

What this means for AI startups

For early-stage AI startups in the Netherlands, the arrival of a second Curiosity fund represents an additional source of financing at a stage where capital is relatively scarce. Seed and pre-seed rounds for AI companies are being closed more frequently, but the availability of specialised investors who can also provide substantive guidance remains a bottleneck that founders regularly cite.

Whether Curiosity VC invests exclusively in Dutch companies or also looks more broadly across Europe cannot be confirmed on the basis of available information. The ultimate impact of the second fund on the Dutch AI ecosystem will depend in part on the final fund size and the accompanying investment strategy.

Further fund development

A first closing of seventeen million euros typically marks the beginning of a longer fundraising process. Funds in this size category often aim for a final amount of between thirty and seventy million euros, depending on the investment strategy and the number of positions a manager wishes to take. Curiosity VC has not yet confirmed a target amount.

Dutchstartup.ai is following the further development of the fund and will report as soon as more details become available regarding the fund size, the investor base and the first investments from the new vehicle.