Pitchdrive Closes Oversubscribed €60 Million Fund IV to Back Europe's AI-Native Founders

Pitchdrive, backing the boldest founders and build alongside them from day one, led by Boris Bogaert, Koen Christiaens, Wim Derkinderen, Jonas Dhaenens, Lorenz Bogaert, and the team, has announced the closing of its fourth fund at €60 million, strengthening its commitment to the Co-founder Capital model. Fund IV is fully privately backed, with no government or institutional money, unusual for a European fund of this size.

Strong Investor Demand.

The fund attracted significantly more investor interest than its initial €50 million target within weeks of launching. Despite the oversubscription, the team capped the fund at €60 million and declined additional commitments from existing investors.

According to the firm, the decision was intentional, allowing it to maintain a concentrated portfolio and continue providing hands-on support to founders rather than expanding the fund's size.  

Wim Derkinderen said the decision to cap the fund at €60 million was driven by a desire to remain closely involved with portfolio companies rather than maximize assets under management.

According to Derkinderen, a larger fund would have required backing more startups and diluted the firm's hands-on approach. Instead, Co-founder Capital intends to maintain a concentrated portfolio, allowing the team to work closely with founders and provide deeper support to each company.

Why €60M?

Pitchdrive capped the fund at €60 million to match the changing pre-seed market, where startups are raising larger rounds and AI-native companies scale through compute rather than headcount. The size allows the firm to stay focused on a small portfolio while continuing its hands-on support model.

Quietly Becoming a Leading Pre-Seed Investor.

Since launching in 2020, Pitchdrive has invested in more than 70 startups across Europe, building one of the continent’s most active pre-seed portfolios. The firm has backed companies such as Henchman, Introw, Happl, and Foodamigos, while reviewing hundreds of opportunities each month through its scout network.

The firm's reach is increasingly extending beyond Europe. Recently, Pitchdrive participated in the $10 million pre-seed round of Zerodrift, a New York-based company founded by Kumesh Aroomoogan, highlighting its growing presence in competitive global startup markets.

A Strategic European Presence.

Boris Bogaert said that Kumesh Aroomoogan had access to many of the largest U.S. venture firms, making Zerodrift’s funding round highly competitive.

According to Bogaert, Zerodrift’s decision to include Pitchdrive reflects the strategic value of having a well-connected European investor, particularly in AI compliance, where navigating European regulations, networks, and market dynamics can be a significant advantage.

Backing AI-Native Startups From Day One.

With Fund IV, Pitchdrive plans to invest in 25–30 early-stage startups that are built for the AI era. The firm's focus is not simply on companies using AI, but on businesses whose products, economics, and operating models are fundamentally shaped by it.

The fund is targeting three areas: AI-native products such as vertical AI applications and agent platforms, AI-enabled categories where AI creates new business models or economics, and software-defined physical companies spanning sectors like robotics, mobility, and hardware.

Pitchdrive intends to avoid pure model developers and companies that merely layer AI onto existing products without a defensible advantage. Instead, the fund is looking for startups where AI is central to how the company is built, scales, and competes from the outset.

The Co-Founder Capital Model.

Pitchdrive was founded by entrepreneurs including Boris Bogaert, Wim Derkinderen, and Koen Christiaens, with Jonas Dhaenens serving as chairman.

The firm describes its approach as Co-founder Capital, a hands-on investment model where founders receive direct support from experienced operators rather than just financial backing. Drawing on expertise from companies such as team.blue, Rydoo, and Netlog, the team works closely with portfolio companies throughout their growth journey.

Supporting this model is a network of more than 20 entrepreneurs and operators from leading European technology companies, including figures from Deliverect, Lighthouse, Showpad, Teamleader, and Loop Earplugs. The goal is to provide founders with access to practical experience, industry networks, and operational guidance from people who have built and scaled successful technology businesses themselves.

Founder-Led Investing.

Jonas Dhaenens said Pitchdrive was created to be the kind of investor he wished had existed when building team.blue, a partner led by experienced founders who understand the realities of building companies from the ground up.

According to Dhaenens, Fund IV reinforces that philosophy by maintaining a focused fund size, a concentrated portfolio, and a hands-on approach, allowing the team to stay closely involved with founders as they scale their businesses.