Enzo Ventures closes €20M second fund to back Southern European founders

EU-Startups reported that around 90% of investors from the first fund have committed to the second, with some raising their contributions. Co-founder Edgar Vicente said the firm raised close to €20 million from family offices in Spain, the rest of Europe and Mexico, according to EU-Startups (translated). The firm was co-founded by Vicente and Iván Fernández Lucas, both of whom have startup backgrounds; Vicente was 23 when the firm was launched.

The second fund has already backed three companies, including London-based Cori Clinical and startups in Madrid and Zurich, Tech.eu reported. Enzo's wider portfolio includes Orbio and Murphy, which the firm says are now generating millions of euros in revenue.

EU-Startups noted that the launch comes amid a wave of early-stage fund announcements across Southern Europe in 2026, including Madrid-based Mission's €35 million pre-seed target, Samaipata's €70 million towards a €110 million third fund, Italy's Techshop with a €43 million first close, Eureka! Venture's €20 million deep tech fund, NVM Ventures' €23.6 million first close, and Portugal's Bondstone Ventures targeting €50 million. Including Enzo Ventures II, these vehicles represent roughly €261.6 million in announced sizes, first closes and targets rather than fully secured capital.

The Hamburg deeptech firm is developing muon-based imaging to inspect dense, safety-critical parts that conventional X-rays cannot fully penetrate.