Evantic Capital Research
Overview
Evantic Capital is a London-based venture capital firm founded in 2025 by Matt Miller, a former 12-year partner at Sequoia Capital. The firm raised $400 million for Fund I, officially launching in September 2025, making it one of the largest European VC launches of that year. Evantic focuses exclusively on B2B AI companies across Europe, the United States, and Israel.
Investment Thesis
Evantic Capital's thesis centers on backing founders at "the intersection of generational talent and transformative artificial intelligence." The firm invests in exceptional founders building AI-first B2B software, infrastructure, and platform businesses. Miller believes that AI is creating a generational shift in how enterprises operate, and that London is emerging as a leading hub for this transformation alongside Silicon Valley.
The firm explicitly targets companies that are leveraging AI not as a feature but as the fundamental architecture of their products. Portfolio companies span AI inference infrastructure, AI-powered workflow automation, AI legal platforms, AI voice and video, AI governance, and AI research tools.
Stage Focus
Evantic operates a dual-track investment approach:
- Growth Stage (Primary): Up to $60M for high-conviction investments in emerging AI market leaders at Series B and C. This is the primary deployment vehicle for Fund I.
- Early Stage (Secondary): Up to $1M for early-stage teams with strong conviction, allowing Evantic to build relationships with founders before later growth rounds.
The majority of investments are at Series B/C and beyond, with opportunistic smaller positions at earlier stages.
Check Size
- Early stage: Up to $1M
- Growth stage: Up to $60M
- Typical check range: $1M–$60M depending on stage and conviction
Geographic Focus
Evantic is headquartered in London and invests globally across three regions:
- Europe (primary market and headquarters)
- United States (active investment market; 50% of Legends network based here)
- Israel (active investment market, part of the Europe/Israel Legends cohort)
Miller describes London as "the best place to build an AI company outside the US" and positions Evantic as a "Silicon Valley <> Europe on-ramp" for portfolio companies expanding across geographies.
The Legends Model
Evantic Capital's most distinctive structural feature is its 140-person "Legends" network — world-class founders, operators, and investors split evenly between Europe/Israel and the US. Legends are both limited partners in Fund I and active advisors to portfolio companies. In exchange for active involvement in supporting portfolio companies, Legends receive LP returns plus up to 50% of Evantic's carried interest from deals they actively support. This creates direct financial alignment between operational expertise and portfolio outcomes — a model described as unprecedented in European venture.
Lead Tendency
Evantic has demonstrated both lead and participation roles depending on round dynamics. The firm co-led Fireworks AI's $250M Series C alongside Lightspeed Venture Partners and Index Ventures. In other large rounds (ElevenLabs $500M Series D, Synthesia $200M Series E, Harvey $200M growth round), Evantic participated alongside established investors including Sequoia, Andreessen Horowitz, and GIC. The firm appears selective about leading, reserving that for highest-conviction growth-stage opportunities.
Portfolio Highlights
Evantic has made 10+ investments since launching in September 2025, across AI infrastructure, productivity, professional services, and media:
AI Infrastructure & Developer Tools:
- Fireworks AI — Co-led $250M Series C (Oct 2025) at $4B valuation; ultra-fast AI inference infrastructure for enterprises
- n8n — Enterprise AI workflow automation platform; early investment (2025)
AI-Powered SaaS & Productivity:
- Lovable — AI-assisted web app creation via natural language; early investment (2025), company reached $1.8B valuation
- Listen Labs — AI research platform replacing traditional surveys; $69M Series B (Jan 2026) at $500M valuation
- Profound — AI marketing and brand visibility platform; $96M Series C (Feb 2026) at $1B valuation
AI for Professionals:
- Harvey — AI legal platform; growth round at $11B valuation (Mar 2026), total funding over $1B
AI Media & Content:
- ElevenLabs — AI voice platform; $500M Series D (Feb 2026) at $11B valuation
- Synthesia — AI video platform for enterprise; $200M Series E (Jan 2026)
Security & Governance:
- Nexos — AI governance platform for enterprise data protection; Series A €30M (2025) with Index Ventures
- Serval — AI-native IT service management; $75M Series B (Dec 2025) at $1B valuation led by Sequoia
Team
- Matt Miller, Founder & Managing Partner: 12-year Sequoia Capital partner; led Sequoia's European expansion from 2021; at Sequoia backed Confluent, dbt Labs, Docker, Grafana, Hex, and Tessian.
- Imke Koberg, Investor: Previously at Silver Lake (~5 years); led AI investments at JPMorgan before joining Evantic.
- Franky Roberts, Head of Talent & Community: Led executive hiring at Stripe, Checkout.com, and Sequoia; manages the Legends network and talent placement for portfolio companies.
- Spencer Hemphill, CFO: Decade at Sequoia in accounting and finance roles; previously at Interlagos Capital.
- Vipin Chamakkala, Head of Platform & Customers: Oversees platform services and customer success for portfolio companies.
- Vivien Monory, Chief of Staff: Operational support to the Managing Partner.
- Didac Lee, Senior Advisor: Active investor and seasoned founder providing strategic guidance.
Key LPs & Backing
Sequoia Capital is a limited partner in Fund I — a notable signal given Miller's 12-year tenure there. Fund I also includes 100+ startup founders and operators from Silicon Valley and Europe, institutional investors, non-profits, and endowments. Approximately one-eighth of the $400M came from the Legends network members themselves.
Value-Add Platform
Beyond capital, Evantic provides a comprehensive support platform:
- Silicon Valley <> Europe on-ramp for cross-geography expansion
- Executive mentorship via the Legends network
- Go-to-market strategy support
- Engineering team scaling assistance
- Board construction guidance
- Strategic partnerships and network introductions
Founder Preferences
- Technical founders with deep AI domain expertise
- Teams building B2B AI software with early enterprise product-market fit
- Founders capable of scaling from Europe/Israel to global markets (or vice versa)
- Operators who have already demonstrated early traction and are positioned for growth-stage capital
Anti-Thesis
Evantic does not focus on consumer-facing AI products, pure hardware plays, non-AI companies, or pre-product teams outside the firm's limited early-stage capacity.
Fund Status
Fund I ($400M) launched September 2025 and is actively deploying. The firm made 7+ investments in the first 6 months and continues at a high-velocity pace through early 2026.