We have held first close on SuperSeed III at £40 million, with the British Business Bank as our anchor investor. A further £20 million is committed towards final close, taking us to £60 million on a target of £80 million.
Dan and I started SuperSeed because we believed Europe could build great technology companies, and that the founders trying to do so deserved partners who had done the work themselves. Twenty-five-plus years of building, scaling and selling has only sharpened that conviction. Europe sits on more deep engineering and scientific talent than almost anywhere else in the world. Lately, other parts of the the world have sprinted past us. We need to catch up, fast, and will do that by supporting the founders who are rebuilding our economy.
Fund III is a continuation of what we have been backing since Fund II, with a sharper emphasis: Physical AI applied to real-world economies. AI is moving from the screen into the physical world, and Europe has the industrial substrate to win that contest. We make things, grow things, build things, move things. That is where the productivity gains will land, and where the capital should follow.
We will back two kinds of company in Fund III. First, the ones transforming today’s industries (manufacturing, construction, logistics, agriculture, energy) by putting intelligence into the physical work that runs the economy. Second, the ones building Europe’s frontier categories: space, quantum and fusion, where AI is the unlock that turns world-class research into commercial leadership. Both strands share the same logic: hard problems, real customers, durable moats. Both play to European strengths.
We are doing this work with a team I am proud of: Dan Bowyer (Partner), Andrew Sherlock (Managing Director), Elena Klijn (Principal), Mia Grosen (Venture Partner), Jamie Giles (Senior Associate), Nick Sopuch (Senior Associate), Harriet Ball (Head of Talent), Pepe Lopez (Digital) and Serena Potts (Operations). Each of them backs founders the way we wanted to be backed when we were the ones building.
Our first investment from Fund III is All3, a London company rebuilding the construction industry from design to delivered building. Rodion Shishkov and Slava Bocharov, the founders behind Samokat (a $1.5bn exit in five years), are applying AI design, robotic factories and an autonomous on-site robot called Mantis to one of the world’s most stubbornly inefficient industries. Construction is exactly the kind of sector where Physical AI changes the economics. All3 is exactly the kind of company we built Fund III for.
Europe will get its productivity and sovereignty back through Physical AI, and the founders bringing it to life. That is what SuperSeed III exists to back. If you are one of those founders, we want to talk to you.
— Mads