FundraiseJan 20, 2026, 18:17 UTC

Plural raises third fund targeting €1 billion

Plural, the operator-led venture capital firm founded by Taavet Hinrikus (Wise), Sten Tamkivi (Teleport), Ian Hogarth (Songkick), and Khaled Helioui(Bigpoint), is raising its third fund targeting up to €1 billion. The announcement comes just four years after the firm's 2022 launch and represents a 2.5x increase from its €400 million Fund II raised in 2024.

The firm registered "Plural III" as a Luxembourg vehicle in October 2025, signaling advanced fundraising discussions. Industry sources indicate the capital may be spread across two separate funds to accommodate different investor types and regulatory requirements.

Plural's portfolio includes some of Europe's boldest deep tech bets: nuclear fusion startup Proxima Fusion (€200M raised), defense decacorn Helsing (€600M Series D), and spacetech firm The Exploration Company. The firm backed 10 companies in the past year alone, including leading a $20 million Series A for nursing AI startup Teton and co-leading quantum algorithm company Phasecraft's €34 million Series B.

The six general partners maintain Plural's signature model: each partner makes roughly two deals per year, with mandatory personal co-investment to ensure alignment with founders.

Sources: Sifted
TechCrunch

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