· investment-strategies · 2 min read
New VC Funds May–June 2026: Where LPs Are Placing Their Next Bets
From Gigascale's $250M climate fund to Merantix's €103M AI vehicle and MENA/Africa first closes, May–June 2026 fund launches reveal LP conviction in deeptech and emerging markets.
Fund launches are the leading indicator of where the next cycle of capital will land. The May–June 2026 crop of closes reveals a clear LP preference: specialist theses in deeptech and underserved markets over generalist vehicles.
The new funds
| Fund | Size | Thesis |
|---|---|---|
| Gigascale Capital | $250M | Physical-economy climate |
| Merantix Capital | €103M | Early-stage European AI |
| Pitchdrive | €60M | European AI-native founders |
| Creator Fund | $56M | European scientific founders |
| Anara Impact Capital | $48M (first close) | MENA seed/Series A |
| Star51 Capital | first close | Medtech (Abbott, Mayo Clinic LPs) |
| 3IF Ventures | $12M (first close) | African inclusive insurance |
What the LP money is saying
- Deeptech is the durable thesis. Gigascale ($250M, ex-Meta CTO Mike Schroepfer) backs energy and infrastructure; Merantix’s €103M targets AI across logistics, manufacturing, energy, and physical AI — backed by Union Investment, Jungheinrich, and KPMG Germany.
- Strategic LPs are anchoring funds. Star51’s medtech fund is led by Abbott and Mayo Clinic; NEURA-style strategic co-investment is becoming a template, with corporates and institutions anchoring specialist vehicles.
- Emerging markets are getting purpose-built capital. Anara (MENA, backed by KfW and the European Commission) and 3IF Ventures (African insurance, anchored by FSD Africa and ZEP-RE) show development finance institutions seeding venture ecosystems.
The European capital-formation story
European fund managers and a “German VC coalition” are openly calling for institutional capital to shift toward next-gen startups — a structural push to deepen Europe’s domestic LP base.
Practical takeaway (operator + investor)
Founders should map their category to the new specialist funds — climate to Gigascale, European AI to Merantix/Pitchdrive, medtech to Star51. For LPs, the 2026 vintage favors managers with sharp theses and strategic relationships over broad generalists.
Sources
- Morningstar / Business Wire (Gigascale $250M): https://www.morningstar.com/news/business-wire/20260601079849/gigascale-capital-raises-250-million-fund-to-back-companies-rebuilding-the-physical-economy-for-climate-impact
- Tech.eu (Merantix €103M): https://tech.eu/2026/06/04/merantix-capital-launches-eur103m-fund-for-early-stage-european-ai-startups/
- PRNewswire (Star51 medtech first close): https://www.prnewswire.com/news-releases/star51-capital-announces-first-close-of-medtech-venture-fund-302798225.html
- Wamda (Anara Impact $48M MENA): https://www.wamda.com/en/2026/06/anara-impact-capital-announces-48-million-close-mena-focused-fund