Index Ventures has raised $2bn in fresh capital, lifting its war chest to $3.5bn, and it plans to spend most of it on AI. The timing is awkward. One of the firm’s own co-founders has warned that the wealth AI is minting will, one way or another, have to be handed back.
The London-based firm announced the funds on Friday, marking its 30th year. They split into a $400m seed fund, a $900m venture fund, and an extra $700m for its 2024 growth fund, which now stands at $2.2bn. The money spans its home ground of Europe, Israel and the US.
The raise follows a banner year. Index was the largest outside backer of Wiz, the security firm Google bought for $32bn, a stake reportedly worth about $3.8bn to the fund. Add Figma’s IPO and a secondary that valued Revolut at $115bn, and, as Sifted reported, the firm booked close to $9bn.
Doubling down on AI
Most of the new money is heading back into the market that produced those returns. Index holds a stake in Anthropic and backs Mistral, the inference platform Fireworks AI, and the robotics firm Physical Intelligence. AI drew a reported 41% of all venture investment in the year to mid-2026.
