Concept Ventures is Europe's largest dedicated pre-seed fund, managing over $200 million in AUM and investing up to $1.5 million in first rounds. Founded by Reece Chowdhry, the firm has backed more than 100 companies across sectors including AI, deeptech, and enterprise software, with portfolio highlights including ElevenLabs ($11bn valuation), Synthesia, and Vsim (founded by ex-NVIDIA researchers). The fund positions itself as 'uncomfortably early,' backing founders at the concept stage without requiring traction or consensus. Concept operates a founder-centric approach, tailoring support differently for first-time versus repeat founders, and offers standard terms on a streamlined process. The firm has established the Concept Venture Pledge, committing 1% of carry to causes chosen by portfolio founders.

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