Heartcore Capital

About Heartcore Capital

Heartcore Capital is a pan-European consumer-tech venture capital firm with more than €700 million of assets under management as of December 2024 (€800 million cumulative committed capital across Fund I through V), headquartered in Copenhagen with offices in Paris, Berlin and Stockholm. The firm was founded in 2007 (originally as Sunstone Capital Technology) before rebranding as Heartcore in 2017. Heartcore remains a partner-owned independent firm with 100 plus portfolio companies and more than €10 billion of enterprise value created across the platform.

Investment thesis

Heartcore deploys capital through Fund I through Fund V (Fund V closed December 2024 at €170 million / approximately $180 million) plus an Alumni Fund and a Web3 fund, targeting early-stage venture capital (seed and Series A) with a founder-first consumer and consumer-tech thesis. Sector focus spans consumer, consumer-tech, fintech, SaaS and marketplaces, with Fund V extending into infrastructure, synthetic biology, climate tech and space. Geographic deployment is pan-European with selective US and global outliers, supported by the founder-NPS-driven culture and one of the oldest European consumer-tech specialist franchises.

Recent activity

Recent realised exits include healthcare and home-care services (2025), travel-tech (2024 secondaries), fintech (2024) and consumer (2024). Recent investments include space and infrastructure (2025 Skynopy seed lead), AI and business software (2026 Capalo AI), construction-tech (2025 Licify first-time) plus various follow-ons (2025 including Luca). The platform continues active deployment of Fund V across the expanded sector thesis. Detailed buyer names and multiple data available on Pro at €49/month.