The first European hybrid fund
Next Kapital
Two engines, one fund: the drive of startups, the footing of real assets.
Why Next Kapital
The drive of venture capital, the footing of real assets
Next Kapital brings two engines together in a single fund: high-potential startups and real estate, green and social projects backed by real assets. You choose your sectors, then your deals.
Next Kapital is a European hybrid fund: a growth pocket invests in startups, a yield pocket funds real estate, green and social projects. Each investor chooses their sectors and splits their ticket across deals.
One fund, two engines
The growth pocket targets value creation in startups; the yield pocket relies on tangible assets. Two complementary risk profiles, presented separately.
Sourced deals
Startups that went through Y Combinator-type accelerators or come from the European ecosystem, plus real estate, green and social projects led by identified operators.
You choose
You set your ticket and sectors, then split your commitment across open deals, from €5,000 per deal.
A traceable reservation
A 1% deposit reserves your allocations; the balance is called by bank transfer. Every step is recorded in your account and in the audit log.
9
investment sectors
€10,000
entry ticket
1%
reservation deposit
2
pockets: growth and yield
Two pockets
Growth and yield, in a single fund
Target fund allocation (indicative)
Growth pocket
Minority stakes in startups: companies that went through Y Combinator-type accelerators or come from the European ecosystem, in AI, quantum, deep tech, health, agri-food and sport. High potential, long horizon, risk of total loss.
Target fund allocation (indicative)
Yield pocket
Funding for real estate, green and social projects backed by real assets, with a non-contractual annual yield target and a shorter horizon. Capital remains at risk of loss.
Nine sectors
Where we deploy capital
01 / 09 — Infrastructure, agents and vertical applications
Artificial intelligence
Enterprise agents and automation · Compute infrastructure and optimisation · Vertical applications (health, finance, industry)
Specialised models, autonomous agents, compute infrastructure and business applications with strong traction. We favour teams with a data or distribution edge.
- Growth pocket
- Stages
- Seed – Série B
- Horizon
- 5 – 8 years
- Non-contractual target
- x5 – x12
Multiples, yields and horizons shown are non-contractual targets: they are neither a promise nor a guarantee. Past performance is no guarantee of future results. Capital at risk.
Deal channels
Where the best deals are born
Top-tier accelerators
Startups that went through Y Combinator-type accelerators, at Seed and Series A. No partnership: we review files once companies have left the programme.
European ecosystem
European startups from Seed to Series B, coming out of the continent's labs, incubators and major tech hubs.
Internal deals
Operations identified and negotiated directly by the Next Kapital team, off-market.
Luxembourg network
Financial centre, family offices and European alternative vehicles.
Miami network
Tech and venture ecosystem of the US East Coast, for startups targeting both continents.
Project sponsors
Real estate developers, energy project developers and social economy players, supported by sector experts.
Deals
A glimpse of the deals
Each deal presents its company or project, its funding target, its allocation gauge and its non-contractual targets.
Startup
Veltria AI
Artificial intelligence · Seed
Paris · France
AI agents automating account reconciliation and month-end close for European mid-caps. Fictional company presented as an alumnus of a Y Combinator-style accelerator.
- Amount sought
- 850 k€
- Target multiple
- x6
- Non-binding target
Real estate project
Résidence Quai Sud
Real estate · Value-add
Lyon · France
Conversion of a 1970s office building into 34 high-energy-performance homes near the riverside. Fictional project.
- Amount sought
- 1.5 M€
- Target yield
- 9 % / yr
- Non-binding target
Startup
Qorvane
Quantum · Série A
Delft · Netherlands
Cryogenic control modules cutting the wiring of superconducting quantum processors. Fictional university spin-off from the European ecosystem.
- Amount sought
- 2.4 M€
- Target multiple
- x4
- Non-binding target
This deal is an example illustrating how the fund works. It represents no real company, project or person and is not open for investment. Multiples, yields and horizons shown are non-contractual targets: they are neither a promise nor a guarantee. Past performance is no guarantee of future results. Capital at risk.
Journey
From ticket to reservation
Ticket
You choose your ticket: €10,000, €50,000, €100,000, €250,000, €500,000 or €1,000,000. It sets the maximum amount you will split across deals.
Sectors
You select one or more of the nine sectors, in the growth pocket, the yield pocket or both. Matching deals are shown to you first.
KYC verification
Identity, contact details, financial situation, source of funds, investor profile, ID document front and back and proof of address. Access to deals opens once verified.
Choice of deals
You split your ticket across open deals, from €5,000 per deal in steps of €1,000, within the limit of your ticket.
Reservation deposit
A deposit of 1% of the total, paid by card, reserves your allocations. You receive a reservation certificate and transfer instructions for the balance.
The first European hybrid fund
Ready to invest in the Europe to come?
Choose your ticket and sectors, complete your identity verification, then reserve your deals with a 1% deposit.