Observed Signal · Sep 29, 2025 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Former Sequoia Partner Launches $400M B2B AI Fund Evantic Capital
Former Sequoia partner Matt Miller has launched Evantic Capital, a London-based venture firm focused on B2B AI investments. The fund has raised more than $400 million and has already backed companies including Fireworks, Listen Labs, Lovable, n8n, and Nexos. Evantic Capital invests in AI leaders across Europe, the US, and Israel. Its 'unique model' involves a network of 140 founders, operators, and investors called 'The Legends,' who support portfolio companies with marketing, sales, and growth expertise. According to Miller, Legends receive up to 50% of the carry from each investment they actively help, aligning incentives beyond typical advisory roles. Bloomberg reported that around one-eighth of the fund's capital came from the Legends themselves. Miller left Sequoia after 12 years to start the fund, focusing on Europe's founders.
A new $400M B2B AI fund from a high-profile ex-Sequoia partner signals continued VC momentum in AI startups, but the news is not directly tied to AdTech operations or a major platform change.
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Key Takeaways & Evidence Grounding
- Evantic Capital has raised over $400 million for its B2B AI-focused venture fund.
- The fund was founded by former Sequoia partner Matt Miller and is based in London.
- Evantic Capital invests in AI companies across Europe, the US, and Israel.
- Its 'Legends' network includes 140 founders, builders, and investors who receive up to 50% of carry from investments they support.
- Portfolio companies include Fireworks, Listen Labs, Lovable, n8n, and Nexos.
Connected Companies & Entities
5 Entities mapped“To date, Evantic Capital has invested in Fireworks, the AI inference provider, Listen Labs, AI research platform, Lovable, the vibe coding s...”
“To date, Evantic Capital has invested in Fireworks, the AI inference provider, Listen Labs, AI research platform, Lovable, the vibe coding s...”
“n8n, the AI workflow startup, and Nexos, the AI governance platform....”
“Miller, a high-profile figure in VC, left Sequoia last year after 12 years, saying he wanted to start his own fund....”
“According to Bloomberg, an eighth of the $400m plus funding has come from the legends....”
Ontology Mapping & Concepts
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