Berlin-based venture capital firm Robin Capital has closed its second €15 million early-stage fund, bringing its total commitments across two funds to €30 million. Fund II has already made 17 investments, including SkySpy.ai, Marble Imaging, and Helicity Space, targeting technologies in intelligence, defense, Earth observation, and space exploration.
The firm's first €15 million fund, launched in 2023, has backed 34 companies. Across both funds, Robin Capital has now made 51 investments.
Beyond its two funds, Robin Capital has also established three dedicated growth special purpose vehicles (SPVs) to back ARX Robotics, Almetra, and Ground A.
Why €15M funds?
While many European venture capital firms pursue larger funds as they mature, Robin Haak, solo GP of Robin Capital, is taking a different approach. Rather than concentrating on increasing the size of individual funds, he wants to build a connected investment community capable of supporting founders across different stages of company development.
Speaking to The Recursive, Haak explained that the approach reflects his experience as a founder, early-stage investor, and growth investor.
"Having been a founder myself, I know how much it means to have people around you who genuinely care and are willing to help. That's what we're trying to build at Robin Capital. The capital matters, of course, but the people behind it matter just as much."
According to Haak, the first fund has already brought together three venture partners, around 100 operating partners and advisors, and a limited partner advisory committee. Fund I has backed 34 investments, representing approximately 50 founders.
The firm's WhatsApp community now connects approximately 200 founders and investors, allowing members to exchange ideas, share experiences, make introductions, and support one another. For the investor, this network is not simply an additional benefit for portfolio companies but a central component of Robin Capital's investment model.
"They call it a Solo GP, but nothing about this journey has ever been solo. I'm incredibly grateful to our limited partners for their trust, to our founders for allowing us to be part of their journeys, and to everyone who contributes their time and experience. None of this would be possible without them."
The long term ambition
Looking further ahead, Haak hopes to launch a third €15 million early-stage fund towards the end of 2027, subject to the continued development of the existing funds.
Over the longer term, potentially three or more years from now, he would also like to explore a €100 million-plus Growth Continuity Fund, which could allow Robin Capital to continue supporting selected portfolio companies through later financing rounds.
"For now, our focus is on doing a good job with the two funds we've been entrusted with. If we can continue to earn the trust of our founders and investors, I'd love to build a third fund in time. And perhaps one day, a Growth Continuity Fund that allows us to keep supporting some of these companies as they grow. But that's a dream for another day. There's plenty of work to do first."
The potential vehicle would allow Robin Capital to participate in later-stage financing rounds rather than limiting its financial involvement to the pre-seed and seed stages. Haak pointed to US investor Elad Gil, whose investment approach spans early-stage companies and more mature businesses, as an example of the model he hopes to establish in Europe.
The three existing growth SPVs already represent an initial move in that direction, enabling Robin Capital's investor community to provide additional financing to selected companies beyond the firm's core early-stage strategy.
The potential Growth Continuity Fund remains a longer-term aspiration rather than a planned or announced fundraising vehicle.
Expanding into AI, defense, robotics, and space
Robin Capital's investment strategy is increasingly focused on technologies with significant industrial, technological, and strategic applications. Its first €15 million fund, launched in 2023, has backed companies including Bulgarian-founded startups Uvionix and Paypercut.
Fund II will focus on early-stage startups developing technologies across AI, robotics, defense, space, and deep tech, with an emphasis on companies addressing complex industrial and technological challenges.
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