Carles Reina, an angel investor who has previously backed the likes of Revolut and ElevenLabs, has launched a new solo GP fund worth $15m (£11.4m).
Called Baobab Ventures, the new fund will back pre-seed and seed-stage founders with AI, robotics and defence being targeted sectors.
Reina said that Baobab’s philosphy is concerned with “building momentum quickly” and through the fund he hopes to work closely with founders offering “hands-on support”.
“Building startups has dramatically changed in the last few years. Sales cycles are faster, there are hundreds of competitors within months, and AI has killed cold outreach conversion rates,” said Reina.
“Founders need to move incredibly quickly whilst building a sales and growth motion fit for the AI age. To do that, they need operators on their cap table who can draw on relevant frontline experience from the AI era and who are hands-on with their help.
“This AI-informed operator experience is a clear gap in the European landscape and it’s one I believe Baobab can fill.”
The fund has been backed by LPs including Cendana Capital, Isomer Capital, RSJ Investments, Emergence Ventures, and Cyber Fund.
Additional backing has come from partners from Concept Ventures, Credo Ventures Lucca & Stella Norton’s family office along with professional footballer Mario Goetze, broadcast entrepreneur Carles Cuní, and deep tech investor Dr Fatima Godall.
