Fund Iii

• London-based Tapestry VC has launched Fund III with a total of €70 million ($80 million), co-anchored by the British Business Bank. • The new fund aims to double the firm's scale and specifically target repeat founders at the Seed and pre-Seed stages in Europe. • This strategy follows a 100% "graduation" rate for recent serial founder bets, with companies like Sunrise Robotics, Maze AI, Tracebit, and Requesty AI securing €100 million Series A rounds or acquisition offers.

• Tapestry VC, a backer of Nothing and Hopin, has launched an $80 million Fund III specifically targeting repeat founders in Europe. • The fund launch follows the $3.6 billion acquisition of Fin by Salesforce, signaling a strategic shift toward the next generation of AI and SaaS companies. • This move comes as the market for AI customer-service agents becomes highly competitive, with rivals like Bret Taylor's Sierra reaching a $15.8 billion valuation.