Tapestry VC closes $80M fund betting on Europe's repeat founders

What happened

London-based Tapestry VC has closed an $80 million（約130億円） third fund focused on investing in entrepreneurs starting their second or third companies. The firm plans to invest in around 30 companies at pre-seed or seed stage, with check sizes ranging from around $1 million（約1.6億円） to $3 million（約4.8億円）, compared to around $1 million（約1.6億円） in prior funds. New investors include the British Business Bank, Railpen, Molten Ventures, and Sarah Friar, CFO at OpenAI.

Why it matters

Repeat founders have created more than $2 trillion（約320兆円） in enterprise value across Europe, and the firm expects the coming wave of AI exits to produce another generation of experienced founders with connections and the ability to hire quickly. For investors backing European startups, this signals confidence in a deepening pool of seasoned entrepreneurs who can reduce execution risk.

What to watch

Tapestry has backed smartphone and earbud maker Nothing, and AI customer service startup Fin AI, which was acquired by Salesforce for $3.6 billion（約5800億円）. The firm is also placing a renewed focus on AI security investments.