Lucid Capital closes oversubscribed €36 million Fund I

Europe's largest AI Inception fund

To the ones who don't wait for permission,

Today, we're proud to announce the close of Lucid Capital I, a €36 million fund, oversubscribed, and Europe's largest AI Inception fund. We've been quiet for a reason - we were busy building.

We started Lucid because of a simple observation: Europe has everything it needs: world-class engineers, leading AI researchers, experienced operators, and enough capital. What it lacks is early conviction. The best founders don't wait for permission. They start building before anyone believes in them. That's when they need a real partner, not a spectator. One that matches their intensity, moves at their speed, and actually cares.

Inception investing means conviction before incorporation. We back founders from day zero - often before a company exists - and help them move from 0 to 1. First believers. First cheque. First yes.

We believe this is the defining decade. Either we build technology champions here in Europe, or we explain to the next generation why we didn't.

The talent is here. The know-how is here. What's been missing is conviction, pace, and global ambition.

That's what Lucid is for.

To every LP who backed us, every founder who trusted us, and every partner who believed in our vision - thank you. Your conviction made this possible.

Let's get to work.

— Johann & Srećko
Founding Partners, Lucid Capital
Berlin, 12 February 2026

Photo by Melanie Greim