FundraiseOct 29, 2026, 05:47 UTC

Auriga raises €80M interim close for second European cybersecurity fund

What's the deal? French venture firm Auriga Partners has secured €80 million in an interim close for Auriga Cyber Ventures II, its second fund dedicated to cybersecurity. It will back early-stage European startups in AI security, identity protection, and data security, aiming to invest in around 30 companies.

What's the endgame? The fund targets a final size of €100 million, with a €120 million hard cap. It will write initial cheques of €500,000 to €5 million from pre-seed to Series A, reserving about half its capital for follow-on rounds.

What's happening already? Auriga has made four investments: Finovox, in document fraud prevention; Fleuret, in AI-powered penetration testing; Mankinds, in AI systems auditing; and Nextident, in AI agent security. It aims to close another two or three deals by the end of 2026.

The track record: The new fund follows Auriga's first €55 million cybersecurity fund, launched in 2022. The firm has backed 30 European cybersecurity startups over five years and evaluated more than 2,000 companies in the sector.

Its investments in Vade and Nexthink generated more than €500 million in distributions to investors during 2025–2026.

Why it matters. "Given the economic, industrial and sovereignty challenges posed by cybersecurity, Europe must equip itself to develop global leaders," said managing partner Geoffroy Rosset. Co-managing partner William Lecat stressed hands-on backing: "In cybersecurity, the ability to provide hands-on support is just as critical as funding."

The signal: The €80 million interim close puts Auriga four-fifths of the way to its target amid a stronger European cybersecurity market, where startups raised a reported €1.3 billion in the first half of 2026, up 125% year on year. Fundraising may extend to June 2027 — a reminder this is an interim close, not a completed raise.