Europe’s venture capital ecosystem has matured significantly over the past decade, producing thousands of high growth technology startups and attracting increasing institutional investment. However, as venture portfolios expand and funds remain invested for longer periods, liquidity has become one of the industry’s biggest challenges. Investors are increasingly seeking flexible ways to access capital before traditional exits through acquisitions or public listings. Secondary transactions are emerging as an important solution, enabling investors to buy and sell existing fund interests while supporting healthier capital circulation across the venture ecosystem. Acurio Ventures is aiming to accelerate this market with the launch of a dedicated European secondary investment fund.
The venture capital firm has announced the closing of Acurio Secondaries I FCR, a new investment vehicle with approximately €115 million dedicated exclusively to fund level secondary transactions involving European venture capital funds.
With the addition of the new vehicle, Acurio Ventures now manages more than €450 million in assets across five investment funds focused on technology investments throughout Europe.
Addressing a Growing Liquidity Challenge
Private equity markets have increasingly embraced secondary transactions as an alternative source of liquidity alongside public offerings and mergers or acquisitions.
While this segment has grown rapidly across broader private equity markets, venture capital secondaries in Europe remain relatively underdeveloped.
Acurio Ventures believes this creates an opportunity to support investors seeking liquidity while acquiring interests in mature venture funds with attractive long term value.
The firm’s strategy focuses exclusively on European venture capital funds, particularly transactions valued below €20 million, an area it considers underserved within the current market.
Investing in Mature Venture Funds
The new fund will primarily target mature early stage venture capital funds that have been operating for more than eight years.
These portfolios typically contain companies with established business models, identifiable value drivers, and realistic exit opportunities expected within the following two to three years.
By investing in funds approaching the later stages of their lifecycle, Acurio Ventures aims to provide liquidity to existing investors while positioning itself to benefit from future portfolio exits.
The firm expects to deploy the fund’s capital within approximately eighteen to twenty four months.
Building on an Established Investment Platform
The launch further strengthens Acurio Ventures’ broader European technology investment strategy.
In addition to its dedicated secondary investment vehicles, the firm also manages three funds focused on direct investments in European seed and Series A technology startups.
Its latest direct investment vehicle, Acurio Ventures III, closed in 2024 with more than €150 million and continues investing across Europe’s early stage innovation ecosystem.
Together, these funds allow the firm to participate across multiple stages of venture capital investing while supporting both startups and fund managers.
Expanding a European Technology Portfolio
Since its establishment, Acurio Ventures has invested in approximately 120 technology startups alongside around 20 venture capital funds.
Its portfolio includes companies operating across sectors such as digital platforms, education technology, financial technology, healthcare, and sustainability.
By combining direct startup investments with venture fund investments and now dedicated secondary transactions, the firm has built a diversified investment platform serving multiple parts of Europe’s innovation economy.
The new secondary fund has already committed close to €45 million, providing an initial portfolio as it begins deploying additional capital.
Supporting the Next Phase of Venture Capital
As Europe’s startup ecosystem continues maturing, demand for more sophisticated capital solutions is expected to increase.
Secondary funds can improve liquidity for investors while allowing venture capital firms to manage portfolios more efficiently without waiting for traditional exits.
Through its dedicated secondary strategy, Acurio Ventures aims to strengthen Europe’s venture capital infrastructure by providing greater flexibility for investors and supporting continued capital formation across the technology sector.
The launch of Acurio Secondaries I FCR represents another step towards building a more liquid and resilient European venture capital market capable of supporting innovation over the long term.
