{"id":9225,"date":"2026-07-03T01:54:45","date_gmt":"2026-07-02T22:54:45","guid":{"rendered":"https:\/\/handoli.com\/index.php\/2026\/07\/03\/london-based-tapestry-vc-closes-on-80m-third-fund-to-invest-in-repeat-european-founders\/"},"modified":"2026-07-03T01:54:45","modified_gmt":"2026-07-02T22:54:45","slug":"london-based-tapestry-vc-closes-on-80m-third-fund-to-invest-in-repeat-european-founders","status":"publish","type":"post","link":"https:\/\/handoli.com\/index.php\/2026\/07\/03\/london-based-tapestry-vc-closes-on-80m-third-fund-to-invest-in-repeat-european-founders\/","title":{"rendered":"London-Based Tapestry VC Closes On $80M Third Fund To Invest In Repeat European Founders"},"content":{"rendered":"

London-based Tapestry VC<\/a> has closed an $80 million third fund to double down on what it believes is one of Europe\u2019s biggest long-term advantages: repeat founders.<\/p>\n

The firm says entrepreneurs starting their second or third companies have created more than $2 trillion in enterprise value across Europe, and expects the coming wave of AI exits to produce another generation of experienced founders.<\/p>\n

\u201cThere\u2019s beginning to be this super cycle of repeat founders in Europe,\u201d co-founder and managing partner Patrick Murphy<\/a> said in an interview with Crunchbase News. He recently relocated from San Francisco back to London, where the firm has also opened a new flagship office.<\/p>\n

\"Tapestry
Tapestry VC partner Audrey Miller and founder Patrick Murphy. (Courtesy photo)<\/figcaption><\/figure>\n

Repeat founders bring not just experience, but connections and the ability to hire quickly to the table, according to Murphy.<\/p>\n

From its new fund, Tapestry plans to invest in a similar number of companies as it did with prior funds: Around 30 companies at pre-seed or seed.<\/p>\n

Prior fund check sizes were around $1 million but checks from the new fund will trend larger, from around $1 million to $3 million, according to the firm.<\/p>\n

The team seeks out previous founders even before they have decided what\u2019s next. \u201cLet\u2019s spend time together before you start your new company. Let\u2019s ideate, let\u2019s brainstorm,\u201d said Murphy. \u201cWe\u2019re not taking anything for that \u2014 we\u2019re not an incubator, we\u2019re not an accelerator.\u201d<\/p>\n

The firm\u2019s earlier bets include smartphone and earbud developer Nothing<\/a> and AI customer service startup Fin AI<\/a>, which was recently acquired by Salesforce<\/a> 1<\/a>\u00a0for $3.6 billion.<\/p>\n

Other investments over the years include drone delivery startup Manna Air Delivery<\/a> and Sunrise Robotics<\/a>, which works to automate manufacturing. It also has a renewed focus around AI security with investments in Tracebit<\/a>, Maze<\/a> and Keycard<\/a>.<\/p>\n

New investors in this fund are sovereign investor British Business Bank<\/a>, alongside pension fund Railpen<\/a> and fund of fund Molten Ventures<\/a>. Notably, Sarah Friar<\/a>, CFO at OpenAI<\/a>, is also an investor in the fund.<\/p>\n

\u201cI think encouraging a vibrant boutique seed environment for funding is very important for encouraging creative new people to start interesting, different and weird businesses,\u201d said Murphy.<\/p>\n

Related Crunchbase query:<\/h2>\n