The new capital will be deployed across three investment vehicles: a $400 million Seed Fund, a $900 million Venture Fund, and an expanded $2.2 billion Growth Fund, which received an additional $700 million on top of the $1.5 billion growth vehicle launched in 2024.
The fundraising marks another milestone for the London-headquartered VC firm as it celebrates its 30th anniversary, while reaffirming its long-standing strategy of backing founders from the earliest stages through IPOs and major acquisitions.
Riding the AI wave
Index Ventures plans to invest the new capital across Europe, the United States, and Israel, with artificial intelligence remaining the firm’s highest priority. The fund has already built one of the industry’s strongest AI portfolios, including investments in Anthropic, Mistral, Fireworks AI, and robotics startup Physical Intelligence.
Beyond foundation models, Index sees AI accelerating innovation across sectors including cybersecurity, infrastructure, fintech, healthcare, and enterprise productivity. The timing reflects broader market trends. AI continues to dominate venture funding, accounting for an estimated 41% of global venture investment over the past year, while fundraising has become increasingly challenging for startups outside the sector.
Built on one of venture capital’s biggest wins
The latest fundraise follows one of the most successful periods in Index Ventures’ history. The firm’s largest return came from cloud security startup Wiz, where Index was among the earliest institutional investors and eventually became the company’s largest outside shareholder. Google‘s $32 billion acquisition of Wiz generated an estimated return of nearly $4 billion for Index alone.
The firm also benefited from Figma’s public listing and continued value creation across portfolio companies including Revolut, helping generate an estimated $9 billion in value over the past year. Rather than slowing deployment after these landmark exits, Index is using the momentum to significantly expand its investment capacity.
The new funds also reinforce Index Ventures’ long-standing commitment to the Israeli startup ecosystem. Having invested in Israeli founders for more than two decades, the firm’s portfolio includes some of the country’s most prominent technology companies, including Wiz, Gong, Fireblocks, Capitolis, and Empathy.
According to partner Juriaan Duizendstraal, who leads Index’s activity in Israel, the firm completed 16 Israeli investments over the past three years, deploying roughly $300 million into new startups. More recently, Index has backed a new generation of Israeli AI and cybersecurity companies, including Glow, NewCore, Enigma AI, Wonderful, PointFive, Frame Security, Linx Security, Astelia, and Venice, reflecting the firm’s increasing focus on infrastructure, identity security, enterprise AI, and cloud technologies.
Staying true to its long-term investment model
Unlike some of the industry’s largest venture firms that have consistently expanded fund sizes, Index has maintained a relatively disciplined fundraising strategy while continuing to invest across seed, venture, and growth stages.
“Our job is to find the best people early and stay with them for as long as it takes,” the firm said when announcing the new funds, reiterating the philosophy that has guided Index since its founding three decades ago. The approach has helped Index establish itself as one of Europe’s most successful venture investors while maintaining a global footprint across major technology ecosystems.
A contrasting view from one of its founders
Interestingly, the firm’s aggressive AI investment strategy comes as one of its own founders has raised broader questions about the concentration of wealth created by artificial intelligence. Speaking to TechCrunch, Index Ventures co-founder Neil Rimer said he believes AI-generated wealth will eventually require “some sort of redistribution,” arguing that technology leaders should consider acting voluntarily before broader societal pressures force change.
His comments stand in contrast to Index’s current strategy of deploying even more capital into the AI ecosystem, illustrating a wider debate emerging across the venture capital industry. While AI continues attracting record levels of investment, many non-AI startups and smaller venture funds are facing one of the toughest fundraising environments in years.
For now, however, Index Ventures is firmly positioning itself to remain one of the biggest beneficiaries of the AI boom. With $3.5 billion of fresh capital available across every stage of company building, the firm is signaling that it believes the next generation of category-defining technology companies will continue to emerge from artificial intelligence, cybersecurity, and enterprise infrastructure.
