February 2025 Update - Isomer Capital
by Isomer Capital
Here is a snapshot of the top European funding rounds and exits in December:
22 funding rounds were completed in December.
€4.2bn was invested into European Startups.
41 exits occurred, 36 were undisclosed, and 5 were valued at €2.9bn.
The Netherlands raised €862.9m across 19 deals.
Isomer Portfolio Highlights
🇵🇱 ElevenLabs, an AI synthetic voice startup, raised $180m Series C
🇬🇧 Synthesia, AI-powered video creation, raised $180m Series C
🇫🇷 Bioptimus, AI models that connect biological data, raised $41m Series A
🇫🇷 Maki, AI agents for recruitment, raised €26m Series A
🇫🇷 Dfns, wallet-as-a-service for crypto assets, raised $16m Series A
🇸🇪 Open Payments, open banking platform, raised €3m Venture
🇭🇺 Axoflow, security data pipeline management, raised $7m Series A
🇫🇷 Leakmited, intelligent management of water networks, raised €5m Seed
🇪🇪 CybExer Technologies, a cyber security firm, raised €1.5m Debt
🇬🇧 Egregious, an AI security research lab, raised $1m Pre-Seed
Push yourself and from the industry with peers
We’ll trek the most breathtaking sections of the GR 221 trail, known as the Dry Stone Route. This will take us through a 1,000-meter ascent, revealing stunning landscapes set against refreshing ocean breezes. As night falls, a private chef will delight us with exquisite dinners, followed by evenings filled with relaxed activities, a selection of fine drinks, and an array of delights to cap off each day in true style.
Places to Meet Isomer's Team
🇮🇹 Financing growth and innovation in Europe (Florence, 10-11 March) - Chris will attend a panel to discuss the investment needs for the European tech ecosystem.
🇬🇧 EVCMF (London, March 26th) - Joe and Omolade will be speaking on a panel to discuss venture secondaries.
🇮🇹 PE Insight (Milan, May 13th) - Thomas will speak on a panel discussing tech investments.
🇬🇧 Isomer AGM (London, May 15th) - Isomer will host their 10-year anniversary and AGM
🇩🇪 SuperVenture (Berlin, June 2nd - 4th) - Isomer team will attend SuperVenture
Isomer appears in the press as the most active private LPs in European VC
You might have seen the news in Sifted (article: The Most Active LPs in Europe), ranking Isomer as the 4th most active LP in Europe and 1st when removing government-sponsored investors.
But what does it mean to be active, or even better pro-active LP? Here is a summary of what we do for VCs:
Market Intelligence & Benchmarking – We provide portfolio VCs with valuable insights, performance benchmarks, and the latest market trends.
Access to Isomer network of GPs: We actively connect VCs across Europe to encourage collaboration, facilitate co-investments, and strengthen the ecosystem.
An engaged and informed LPAC member: We sit on 77 LP Advisory Committees, bringing hands-on support and strategic input.
Flexible & Agile Capital – We support our funds with co-investments, top-up commitments, and secondary transactions when needed.
GP Set-up and Cornerstone: Leveraging our experience to help new VCs set up and build their firm successfully.
Trusted Market Reference: We act as a key reference LP, supporting our GPs in their fundraising conversations.
We are long-term partners, working closely with GPs to help them succeed.
AI Company Growth in Isomer Portfolio
The recent valuation announcements of ElevenLabs and Synthesia underscore the speed at which powerful AI applications are growing and grabbing market share - and more importantly, how Isomer's investment model captures these transformations early.
These successes highlight Europe’s growing leadership in AI and validate the power of early-stage venture investing. While many big-name investors entered at later stages, Isomer’s strategy—backing top VCs that identify groundbreaking companies at Seed—ensures we capture outsized value from these opportunities.
Both ElevenLabs and Synthesia, part of Isomer’s underlying portfolio. They are complementary AI-driven businesses that provide multi-lingual content. The power of this instant translation to address audiences in multiple languages is shaping the future of digital content.
Synthesia: A leader in AI-powered video creation, making high-quality, avatar-driven content accessible to businesses worldwide.
ElevenLabs: The dominant force in hyper-realistic AI voice generation, unlocking new applications across entertainment, media, and enterprise.
Their impact is massive and their models address a wide range of applications, with multiple verticals to test with. Both companies' rapid revenue growth stems from three key factors; scalability, expanding use cases and market leadership.
What does this mean for Isomer?
ElevenLabs, seeded by Isomer-backed Credo Ventures in 2022, has seen a 300x valuation uplift in just two years—a testament to the power of early-stage entry. One company, out of 1,210 in Isomer’s portfolio, has significantly increased the fund’s NAV and many others contributing to this growth.
These investments reinforce why Seed-stage exposure in Europe's top VCs drives outsized returns. As AI reshapes industries, Isomer remains positioned at the forefront—backing the next wave of transformative companies before they become household names.
Follow the link below to see an AI-generated video produced by Synthesia and ElevenLabs technology of Harry “speaking” Arabic and Chris “speaking” in Japanese however, neither speaks the language in real life.
