Europe’s pension funds hold vast resources, yet only 0.02% is directed toward venture capital, compared with nearly 2% in the US. Aspire11 argues that this under-allocation limits both retirees’ returns and Europe’s competitiveness. Its analysis shows that redirecting even 1% of pension assets could inject €87 billion annually into the economy and over €1.1 trillion within a decade, thanks to compounding and valuation growth.
The fund follows a “barbell” approach with two distinct strategies. Tribes focuses on empowering a new wave of early-stage VC investors who back ambitious founders in emerging technologies and demographic-driven markets. Eternals takes the opposite end of the spectrum, supporting visionary companies with patient capital that can stretch over 20 years. Together, they allow Aspire11 to support both disruptive newcomers and industry-defining businesses built to last.
At the helm is Pavel Mucha, founder of KAYA VC and co-founder of Orbit Capital, who has backed success stories including Rohlik Group, Mews, Booksy, and DocPlanner. His portfolio also includes early involvement in funds behind global names like Revolut and PhotoRoom. Partnering with him is Tülin Tokatli, formerly with the European Investment Fund, who will curate the Tribes portfolio. Their combined experience provides credibility and insight into identifying high-potential opportunities.
Aspire11 is backed by Rentea, part of The Partners Group, a Czech financial powerhouse managing €7 billion across investments, pensions, and deposits. With operations in four countries and two million clients, the group’s involvement adds scale and trust. Aspire11’s mission goes beyond returns: it aims to show that when pension capital flows into the hands of visionary investors and entrepreneurs, societies as a whole benefit.
By aligning pension savings with innovation, Aspire11 is positioning itself as a generational force for Europe’s economy. Its strategy offers both financial security for retirees and growth capital for startups, potentially reshaping how institutional capital drives long-term prosperity.
Pavel Mucha, founder of Aspire11, said: “We designed Aspire11 to back both lifelong business builders and frontier VC investors. With Tribes, we commit ourselves to the next wave of high-conviction VC pickers. Through Eternals, we are ready to support companies not just for years, but decades, to buy them time to win. Aspire11 invites entrepreneurs and VC investors to join in growing this vision. With a horizon measured in decades, our goal is to turn dormant pension funds into a force that works for the people who have built and served the country, ensuring that life after work is not only secure but also rich in quality and possibility.”
