# Connect Ventures Fund V

> Connect Ventures announced a $55M first close on September 23, 2026 for Fund V, targeting $80M in total—not a final $80M raise. Leads European pre-seed rounds with first cheques of $500K–$5M, focused on technically deep AI, infrastructure, robotics, hardware and techbio founders. British Business Bank anchors the fund alongside returning and founder LPs.

## Profile

- **Stage-based planning range:** $250K–$3M
- **Check-size evidence basis:** estimated
- **Founded:** N/A
- **Headquarters:** Europe
- **AUM:** N/A
- **Rounds they lead:** N/A
- **Rounds they invest:** Pre-Seed, Seed

## Links

- [Website](https://www.connectventures.co/)

## In-depth investment analysis

## Financing chronology and the difference between committed and targeted capital

Managing partner Pietro Bezza [announced the $55 million **first close**](https://www.connectventures.co/opinions/announcing-connect-fund-v) for **Connect Fund V** on September 23, 2026. The manager gave a **$80 million target**, not a final close; the $25 million gap is a fundraising objective, not capital already secured. The [British Business Bank's October 15 release](https://www.british-business-bank.co.uk/news-and-events/news/british-business-bank-commits-ps180m-across-five-ai-and-deeptech-vc-funds) disclosed an anchor LP allocation equivalent to approximately **€23.6 million** at the ECB reference rate for that date; that is part of the fundraise, **not a new $23.6 million startup round or additional vehicle**. Named returning LPs include Aldea Ventures, Sella Venture Partners and Molten Ventures; founder Francesco Simoneschi also said he had become an LP. Individual non-Bank commitment amounts were not published.

## Founder route: what the fund actually does

Connect is an early-stage investor backing **European technical founders at inception/pre-seed**. It states a first investment range of **$500,000–$5 million** and a partner-only model. A representative founder can (1) explain the unusual technical advantage behind the product, (2) establish that the team has direct experience of the customer problem, (3) show a working demonstration or testable hypothesis, (4) define a milestone for the first check and (5) work directly with a general partner on subsequent product and fundraising decisions. This is **illustrative**, not a claim to have tested a Connect application. Relevant sectors include AI infrastructure, robotics, hardware and biotech; the firm names ai-coustics, Mosaico and Molecular Glue Labs as investments aligned with its thesis. LP fees, ownership requirements, fund IRR and precise close dates beyond the announcement are not disclosed. See [Connect Ventures](/fund/connect-ventures).

## Research sources

- [Original manager/institutional notice](https://www.connectventures.co/opinions/announcing-connect-fund-v)
- [British Business Bank institutional LP release, 15 Oct 2026](https://www.british-business-bank.co.uk/news-and-events/news/british-business-bank-commits-ps180m-across-five-ai-and-deeptech-vc-funds)

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/fund/connect-ventures-fund-v