London’s Onstage launches early-stage fund with €11.3M first close to build Europe’s answer to YC

UK’s Onstage, the group behind Europe’s biggest standalone demo day, has taken its next big leap by launching its first venture fund.

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London-based Onstage, known for organising Europe’s largest standalone demo day, has officially launched its inaugural venture fund.

The fund has reached its first close, raising £10M (approximately €11.3M) to support the growth of European founders at the pre-seed and seed stages.

The fund will be led by Founding Partner, Joel Hambly.

Europe’s Y Combinator?

Onstage aims to make around 80 strategic investments over the next three years, aspiring to become Europe’s equivalent of Y Combinator, without the accelerator element.

Fund I welcomes Peter Simon, President of US investment firm Simon Sports, who joins Onstage as Partner and investor.

Peter Simon adds, “Onstage has built a unique platform, which is already integral to the European ecosystem. There’s a huge opportunity to build the next-generation YC in Europe, with a compelling proposition for world-class founders and co-investors. I’m excited to support these founders’ global aspirations.”

Other LPs include some of Europe’s top founders and investors, such as Alex Chesterman, and GPs from Concept Ventures, Creator Ventures, Chapter One and Episode 1.

Additionally, to deepen integration with the European VC landscape, Emma Phillips (LocalGlobe), Laura McGinnis (Balderton), and Jamesin Seidel (Chapter One) will join as external members of Onstage’s investment committee.

The Fund Incubator, Blears and Bunch Capital have supported the setting up of the fund, says the VC in the press release. 

Onstage: Organising Europe’s largest standalone demo day

Onstage, founded in 2020 by Episode 1 GP Hector Mason and dmg ventures Partner Taos Edmondson, has emerged as a key player in Europe’s startup ecosystem.

The organisation, led by co-founder Issie James, hosts a flagship demo day that has grown to become the largest source of deal flow in the region.

It draws participation from over 2,000 startups and has partnered with more than 330 venture funds from Europe and the United States, including prominent firms such as Sequoia, a16z, Balderton, and LocalGlobe.

Demo day finalists have collectively secured more than £500M in funding from leading venture capitalists.

Among them, startups like Scan.com and Lawhive have garnered significant investments, with amounts of £60M and £44M, respectively, positioning them as some of the fastest-growing companies in Europe.

Additionally, Onstage has organised one of Europe’s largest gatherings for General Partners and Limited Partners. Its most recent event attracted 350 GP applicants, highlighting its role in connecting various stakeholders within the European venture ecosystem.

“A fund is the clear next step for Onstage and will enjoy a symbiotic relationship with our demo days. It further strengthens our proposition for founders and deepens our relationship with the top VCs in Europe. We can’t wait to support Europe’s next wave of founders, who are ready to compete and win on a global stage,” says Joel Hambly.