Carles Reina, well-known in European venture capital circles for backing Revolut and ElevenLabs, has announced the launch of Baobab Ventures. This €12.9 million solo GP fund focuses on nurturing pre-seed and seed stage startups aiming for global reach. While new to the scene, Baobab Ventures has already garnered significant attention and support from industry veterans, suggesting a promising start for its ambitious targets.
Historically, investments in early-stage ventures have seen fluctuating interest, shaped by varying market dynamics and emerging technologies. Carles Reina’s track record as an early supporter of pioneering companies like Revolut and ElevenLabs has consistently shown his ability to identify promising opportunities. These previous successes have likely influenced Baobab Ventures’ formation, drawing backing from prominent institutional and operator LPs.
Who Supports Baobab Ventures?
Baobab Ventures’ impressive list of supporters includes key institutional backers such as Cendana Capital, Isomer Capital, and RSJ Investments. Additionally, operator LPs consist of partners from influential early-stage funds including Concept Ventures and Credo Ventures. Angel LPs enhancing the credibility of the venture are notable figures like Mario Götze and broadcasting entrepreneur Carles Cuní. These supporters indicate a robust network eager to see Baobab Ventures succeed.
What Is Baobab’s Investment Strategy?
Focusing its investments on emerging sectors like artificial intelligence, robotics, and defense, Baobab Ventures seeks to support highly ambitious startups. The fund has already started deploying capital, with investments in Theker, a robotics startup, Altan AI, a collective AGI platform, and Murphy, a debt collection tech firm, among others. These early moves underscore its commitment to fostering innovation in fast-paced areas.
Carles Reina highlights a unique position for Baobab Ventures within the European startup landscape:
“Building startups has dramatically changed in the last few years. Founders need to move incredibly quickly whilst building a sales and growth motion fit for the AI age.”
With an approach emphasizing both capital investment and practical guidance, Baobab Ventures aims to fill strategic gaps for startups.
Reina’s extensive experience in leading global market operations for ElevenLabs, a company now valued at $6.6 billion, demonstrates his expertise in guiding startups to substantial growth. As a significant player in scaling ElevenLabs to reach over $200 million in annual recurring revenue, Reina aspires to leverage this experience across Baobab’s portfolio.
The €12.9 million Baobab Ventures fund was oversubscribed and completed fundraising in a single closing round. Along with the positive multiple on invested capital (MOIC), these elements reflect strong confidence among investors in the fund’s potential to generate returns while supporting innovative developments.
Baobab Ventures enters a competitive field of early-stage investing, but its strategic focuses and experienced leadership set a solid foundation. Carles Reina’s vision and network provide an advantage as the fund aims to address existing gaps in the European startup landscape. This endeavor seeks not only financial gains but also the advancement of groundbreaking innovations poised to impact the global market.
