Antwerp-based venture capital firm Pitchdrive has successfully closed its fourth investment fund at €60 million, despite receiving subscription requests exceeding €85 million. The firm deliberately capped the fund size and reduced commitments from investors to maintain its focused investment strategy. All capital was sourced from entrepreneurs and family offices, reflecting strong confidence in Pitchdrive’s founder-led investment model.
Founded in 2020 by a group of experienced Belgian entrepreneurs, Pitchdrive has steadily expanded its fund sizes, growing from an initial €3 million micro-fund to €30 million, then €40 million, and now €60 million. The firm’s leadership believes that maintaining a relatively small fund enables closer collaboration with portfolio companies and allows the team to remain actively involved throughout a startup’s growth journey.
The decision to increase the fund size was influenced by the changing economics of early-stage startups, particularly those operating in the artificial intelligence sector. As AI infrastructure and computing costs continue to rise, many startups require larger amounts of capital earlier in their development. Pitchdrive sees AI-native companies as fundamentally different from previous generations of startups, with small teams capable of achieving significant scale through advanced technology and automation.
For Fund IV, Pitchdrive plans to invest in approximately 25 to 30 startups over the next two years. Individual investments will range from €250,000 to €3 million, with average investment sizes significantly larger than in previous funds. The firm is particularly interested in businesses operating in areas such as vertical AI applications, developer tools, AI-powered consumer and commerce platforms, robotics, mobility, and software-driven hardware solutions. Rather than focusing solely on AI products, Pitchdrive prioritizes companies whose business models are built for the AI era and can adapt rapidly to technological change.
Alongside the fund close, Pitchdrive completed its first investment in the United States through participation in the $10 million seed round of compliance AI startup ZeroDrift. The investment reflects the firm’s growing international ambitions and demonstrates that its founder-centric investment approach is gaining recognition beyond Europe. The round also attracted prominent investors, including Andreessen Horowitz’s Speedrun program and several venture capital firms.
Since its launch, Pitchdrive has invested in around 70 startups across Europe and has established a strong performance record. Approximately 70 percent of its portfolio companies have secured follow-on funding within two years, while successful exits include legal technology company Henchman, which was acquired by LexisNexis. The firm reviews more than 500 startup pitches each month but maintains a highly selective investment process focused on conviction rather than volume.
Looking ahead, Pitchdrive aims to continue supporting AI-native founders while maintaining the disciplined investment philosophy that has defined its growth. As artificial intelligence increasingly dominates venture capital activity across Europe, the firm faces the challenge of balancing larger investment sizes, expanding international opportunities, and increasing market competition while preserving its hands-on approach to startup development.
