Euro VC Invests $2 Million in RaiseRunner to Support Startup Fundraising Infrastructure
A $2 million seed investment, made directly by Euro VC and separately from its funds, in software that helps startups find and approach the right investors.
Euro VC has made a $2 million seed investment in RaiseRunner, a company building software that helps startups research, prioritise and approach the investors most likely to fit their raise. The investment closed in October 2026.
How the investment was made
The investment was made directly by Euro VC, separately from the venture capital funds of funds it manages for investors. Those funds are not investors in RaiseRunner. They continue to invest exclusively in selected VC funds, and their strategy, mandate and terms are unchanged.
What RaiseRunner does
RaiseRunner was founded by George Penrock, who worked at Euro VC from 2018 to 2022, first as an analyst and then as an associate.
The company's software helps founders find investors who fit their raise and approach them with personal, specific outreach. Its products include:
- Investor Navigator: builds a shortlist of investors, showing for each one why they fit, the sources behind that view, what remains uncertain and whether the investor backs a direct competitor.
- Funding Wizard: watches for investor activity such as new funds, partner moves and relevant deals, and explains why each signal may matter.
- Outreach campaigns: personal emails and follow-ups sent from the founder's own mailbox, with a weekly briefing on progress.
Founders confirm their company facts, approve every investor and every email, and nothing is sent without their approval. You can read the full process on RaiseRunner's How it works page.
Why Euro VC invested
Good companies and relevant investors often fail to find each other, especially early. Founders contact investors who are a poor fit, and investors miss companies outside familiar networks. RaiseRunner's approach is built on evidence of fit rather than familiarity, which is the same discipline Euro VC applies in its own research.
Euro VC will also use RaiseRunner's software in its own startup deal-sourcing research.
What the investment will fund
The capital will be used to improve the sourcing engine behind RaiseRunner's software: the technology that identifies promising companies early, before they become large and widely known.
Comment from Euro VC
"Finding exceptional companies early depends on evidence, not familiarity. RaiseRunner applies that discipline to one of the hardest parts of building a company, and George understands the problem from both sides of the table. We are pleased to back the team and to use the software in our own sourcing work."
Alexander Whitmore, Chief Executive Officer, Euro VC
About the relationship
George Penrock, RaiseRunner's founder, is a former Euro VC analyst and associate. Euro VC is now an investor in RaiseRunner. RaiseRunner has published guest articles on Euro VC's Perspectives pages, each of which carries this disclosure.
This announcement is for information only. It is not an offer of, or invitation to buy, any investment in Euro VC's funds or in RaiseRunner. Statements about future plans are intentions, not guarantees.
Written by
Chief Executive Officer
A founder turned investor, Alexander leads Euro VC’s strategy, manager relationships and investment philosophy.
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