Moonfire Ventures London, GB
Moonfire Ventures is a London-based, data-driven early-stage venture capital firm founded by former Atomico co-founder Mattias Ljungman. The firm uses proprietary AI models and machine-learning technology to identify and back pre-seed and seed-stage startups across Europe in sectors including AI, Web3, health, work, finance, and gaming.
Founded —
Type Venture capital 4 Moonfire Ventures Fund III LP 2026-05-29 2026-05-29 — FormD/A USD19.73m securities sold; indefiniteoffering, firstsale2025-05-30,9investors, durationoveroneyear. Noverifiedfinalclose/target; amount withheld from closedfundsize.
Fund II 2023-05-24 2023-05-24 $90M Raised separate vehicle; USD115m May2023 headline combines FundII90m and Opportunity25m. Not aggregateAUM.
Opportunity Fund I 2023-05-24 2023-05-24 $25M Raised separate vehicle; USD115m May2023 headline combines FundII90m and Opportunity25m. Not aggregateAUM.
Fund I 2021-05-06 2021-05-06 $60M Raised separate vehicle; USD115m May2023 headline combines FundII90m and Opportunity25m. Not aggregateAUM.
SHOW MORE
$1M $100K – $5M Finland $1M $100K – $5M London $1M $100K – $5M London $1M $100K – $5M United Kingdom $1M $100K – $5M United Kingdom — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – —
SHOW MORE
$3M 2026 Pharosyn Moonfire Ventures $3M 2026 Beglaubigt.de Y Combinator , Moonfire Ventures , Orange Collective $50M 2025-11-20 Flexion Moonfire Ventures $50M 2025-11-20 Flexion Moonfire Ventures $3M 2025-10-03 MokN Moonfire Ventures , Akshat Goenka $— 2025 Pharosyn Moonfire Ventures $— 2025 Weave Y Combinator , Burst Capital , Agent Capital , Moonfire Ventures $— 2025 Weave Y Combinator , Burst Capital , Agent Capital , Moonfire Ventures $35M 2024-10-28 Filigran Accel , Moonfire Ventures , Mattias Ljungman $— 2024-07-05 healthtech-1 Y Combinator , Moonfire Ventures $4M 2024-05-15 Pythagora Y Combinator , UpHonest Capital , Inovo.vc , Maciej Małysz , Rebel Fund , Moonfire Ventures £2M 2024-03-20 Stanhope AI David Grimm , Moonfire Ventures , MMC Ventures $16M 2024-02-29 Filigran Accel , Moonfire Ventures $6M 2024-02-06 Stellar Sleep Y Combinator , Goodwater Capital , Swift Ventures , Initialized Capital , Scrum Ventures , Moonfire Ventures $4M 2022-11-16 SigmaOS Y Combinator , 7percent Ventures , Pioneer Fund , Costanoa Ventures , Cocoa , TrueSight Ventures , Moonfire Ventures $3M 2022-10-27 All Gravy Moonfire Ventures , Atomico , Andreas Helbig , Terese Hougaard , Adam Lasri , Phillip Chambers , Mattias Ljungman $8M 2022-10-06 Lightdash Y Combinator , Accel , Moonfire Ventures $4M 2022-09-14 Claimer Project A Ventures , Moonfire Ventures , Plural , Ian Hogarth , Sam Cash $— 2022-04-05 Goals Northzone , Cherry Ventures , Moonfire Ventures $4M 2022 Landmark Moonfire Ventures , Project A Ventures $3M 2021-12-21 LiveFlow Y Combinator , Seedcamp , WndrCo , Moonfire Ventures $2M 2021-07-21 Oliva Moonfire Ventures $15M 2021-05-19 Pento General Catalyst , Seedcamp , Avid Ventures , Phoenix Court Group , Hustle Fund , Point Nine Capital , Moonfire Ventures $5M 2021-03-02 Humaans Moonfire Ventures $3M 2021-01-20 HiPeople Moonfire Ventures , Cherry Ventures , Mattias Ljungman $7M Unknown date Quest Portal Moonfire Ventures $3M Unknown date Orchestra Moonfire Ventures $3M Unknown date Immortal Game Moonfire Ventures , Andrew Nutter $— Unknown date Tacter Moonfire Ventures $— Unknown date Orchestra Moonfire Ventures $6M Unknown date Revyze Moonfire Ventures $4M Unknown date Pythagora AI Y Combinator , UpHonest Capital , Inovo.vc , Rebel Fund , Moonfire Ventures , 500 Emerging Europe $2M Unknown date Flagright Y Combinator , Pioneer Fund , Moonfire Ventures $4M Unknown date Flagright Y Combinator , Frontline Ventures , Pioneer Fund , Moonfire Ventures $3M Unknown date Sonia Y Combinator , Rebel Fund , SBXi , Moonfire Ventures $750M Unknown date FlowAI Sequoia , Accel , Moonfire Ventures $8M 2026-03-25 Eunice Moonfire Ventures , Speedinvest , Keith Grose , Mattias Ljungman $50M 2025-11-20 Flexion Robotics Moonfire Ventures , Redalpine £3M 2024-10-17 Neuphonic Moonfire Ventures , Akshat Goenka $3M 2020-06-30 Willa Moonfire Ventures , Mattias Ljungman $7M Unknown date Flexion Robotics Moonfire Ventures $2M Unknown date Beyond Work Moonfire Ventures
SHOW MORE
team@apexlogos.ai · 18 hours ago
Investment-fund research reviewed 2026-10-06. Publicly identified funds, dates, amounts and fundraising status are below. Undisclosed commitments remain unknown; this is not a complete register of private SPVs or parallel entities.
Fund sizes and stage strategy
| Vehicle | Supported amount/status | Date and evidence | Caveat |
| --- | --- | --- | --- |
| Fund I | USD $60m raised | [Official announcement](https://www.moonfire.com/stories/why-we-raised-a-60m-european-pre-seed-and-seed-fund/ ), 2021-05-06 | Announcement amount; not AUM or a target. |
| Fund II | USD $90m raised | [Official announcement](https://www.moonfire.com/stories/announcing-fund-ii/ ), 2023-05-24 | Separate from Opportunity Fund. |
| Opportunity Fund, subsequently described as Opportunity Fund I | USD $25m raised, for follow-on investment in successful portfolio companies | Same official 2023-05-24 announcement; [Sifted](https://sifted.eu/articles/moonfire-second-fund-news ), 2023-05-24 | Together with Fund II yields the $115m headline, not a $115m individual Fund II. |
| Moonfire Ventures Fund III LP | USD $19,730,000 total securities sold reported; offering amount indefinite | [SEC Form D/A](https://www.sec.gov/Archives/edgar/data/2052718/000101297526000500/xslFormDX01/primary_doc.xml ), filed 2026-05-29 | First sale dated 2025-05-30; 9 investors; offering intended to last over one year. This is a self-reported exempt-offering filing, not a final-close announcement, global fund size, target or AUM. |
Fund III is the newest verified vehicle located in this search. No final close or public target was verified. A third-party [Private Equity International profile](https://www.privateequityinternational.com/institution-profiles/moonfire-ventures.html ), undated, lists Fund III in market from May 2025 and Fund II/Opportunity Fund I closed May 2023, but locks sizes. Do not import a directory's $19m as Fund III's completed fund size. No independently verified current AUM was found. The fund package and securities-sold figure must not be summed into AUM.
The [current official homepage](https://www.moonfire.com/ ), undated, explicitly supports pre-seed and seed investment, describes its approach as industry agnostic, and covers work, security, finance, gaming and health/wellbeing. The [2021 launch](https://www.moonfire.com/stories/today-we-officially-launched-moonfire/ ) describes first money in pre-seed/seed in Europe. Later Series A participation, including Flexion, shows historical follow-on activity; it does not establish a broad initial Series A mandate. Opportunity Fund supports follow-ons. No official current firm-wide check-size schedule was verified; Signal's individual range should remain attributed.
Funds recorded in Adex after this review:
| Fund | Disclosed amount | Announcement / filing date |
| --- | --- | --- |
| Fund I | USD 60000000 | 2021-05-06 |
| Fund II | USD 90000000 | 2023-05-24 |
| Opportunity Fund I | USD 25000000 | 2023-05-24 |
| Moonfire Ventures Fund III LP | Undisclosed / unverified | 2026-05-29 | SHOW MORE
team@apexlogos.ai · 19 hours ago
Match research 2026-10-06 / GoldiMoonfireVentures / sha256:a3a59098c08d9f115c941b54574fd187e3f5d521992c2e409f0869715da934b1 / part 2 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
**No verified neurotech investment found in the sources checked** under a direct-human-neural-technology definition: neural recording/stimulation, brain-computer interfaces or brain-focused devices. This is a bounded search result, not a claim that Moonfire has no such investments.
Stanhope AI is the strongest relevant adjacent example: the cited official March 2024 release connects its technology to neuroscience and Karl Friston's Free Energy Principle, but describes sensing and decision-making in autonomous machines. Record as neuroscience-inspired AI, not a demonstrated BCI, neural sensor or clinical neurotech company. Flexion's robot “brain” and Neuphonic's name likewise do not establish neurotech.
Stellar Sleep is verified digital behavioral health: its [company-issued announcement](https://www.globenewswire.com/news-release/2024/02/06/2824433/0/en/Stellar-Sleep-Raises-6M-to-Help-End-Sleeplessness-With-the-First-Digital-Sleep-Therapy-Platform-for-Chronic-Insomnia.html ), 2024-02-06, names Moonfire in a $6m seed led by Initialized and describes chronic-insomnia digital therapy. It is adjacent sleep/mental health, with no neural-device evidence in that source. Oliva's [Moonfire testimonial](https://www.moonfire.com/stories/announcing-fund-ii/ ), 2023-05-24, confirms firm-led pre-seed in 2021; it is a mental-health service, not established direct neurotech. Sonia's [YC profile](https://www.ycombinator.com/companies/sonia ), undated, describes voice-based AI mental-health support; YC alone does not verify Moonfire funding and it is not neural-interface evidence.
## Conflicts, gaps and later Adex review
1. Keep exact existing ID despite its `Goldi` prefix; do not create a second Moonfire entity.
2. Reconcile Flexion and Flexion Robotics aliases. Snapshot has several $50m entries, including one labeled seed. Official source explicitly says $50m **Series A**, 2025-11-20, and separately $7.35m seed. Resolve duplicates with transaction provenance rather than counting each as a different round.
3. Store $90m Fund II and $25m Opportunity Fund separately; $115m is the combined 2023 raise. Fund III's $19.73m securities sold is dated partial offering evidence; final size/target remains missing.
4. Stanhope AI and Neuphonic are verified relevant leads not present in the snapshot's firm investment list. Add only through later authorized Adex review, with the primary sources and stage dates above. Do not infer participation in later Stanhope financings without explicit evidence.
5. Existing snapshot claims for FlowAI ($750m Series E), Weave, Pythagora/Pythagora AI and numerous Goldi-only rows were not independently reconciled here; scrutinize entity identity and aliases, and do not use them to characterize current mandate or deep-tech experience.
6. Individual Signal histories and “Prior Investments” on the official website may reflect partner careers. Preserve attribution caveats and avoid moving pre-Moonfire deals into firm history.
7. Neurotech search covered the snapshot, official portfolio/site, Signal and targeted Moonfire neuroscience/EEG/BCI searches. Public portfolio rendering is incomplete and private deals may be undisclosed. Check a full portfolio export or firm confirmation if exhaustive neural exposure is needed.
All linked sources were accessed 2026-10-06; publication dates appear alongside each claim where available. Research only: no Adex/database update or MCP Patch performed. SHOW MORE
team@apexlogos.ai · 19 hours ago
Match research 2026-10-06 / GoldiMoonfireVentures / sha256:a3a59098c08d9f115c941b54574fd187e3f5d521992c2e409f0869715da934b1 / part 1 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
# Moonfire Ventures
- Exact Adex ID: `GoldiMoonfireVentures`
- Canonical Adex URL: https://adex.page/firms/GoldiMoonfireVentures
- Research date and source access date: 2026-10-06
- Status: complete research dossier; later Adex review required.
Moonfire is a London venture firm founded by former Atomico co-founder Mattias Ljungman, launched in 2020, investing principally in European pre-seed and seed companies. It builds proprietary AI/ML tools for sourcing and assessment. Verified deep-tech exposure includes Flexion's humanoid robotics autonomy and Stanhope AI's neuroscience-derived active-inference algorithms. Stanhope is relevant to neuroscience-inspired computing, but evidence does not establish a direct human neural interface or brain-treatment investment. The last verified public completed fundraising announcement found is the May 2023 $115m package, comprising two distinct funds; a newer Fund III filing exists without a verified final-close size. [Official launch, 2021-05-06](https://www.moonfire.com/stories/today-we-officially-launched-moonfire/ ), [firm-issued announcement, 2023-05-24](https://via.tt.se/pressmeddelande/3348634/moonfire-ventures-raises-115m-fund-to-back-and-scale-the-best-early-stage-startups-in-europe?publisherId=259167 ), [current official site, undated](https://www.moonfire.com/ ).
## Starting evidence: Adex and NFX Signal
The saved read-only Adex snapshot `_sources/GoldiMoonfireVentures.adex.json`, retrieved 2026-10-06, identifies Moonfire Ventures with London location, Mattias Ljungman, Mike Arpaia and Akshat Goenka among its investment team, and null check minimum/maximum/sweet-spot fields. Its description emphasizes European pre-seed/seed and AI, Web3, health, work, finance and gaming. Existing investments include Flexion/Flexion Robotics, Filigran, Oliva, Stellar Sleep, Sonia, Pythagora, Lightdash and many software businesses. This is starting evidence, not independent verification. Multiple rounds rely only on Goldi.ai, dates are often absent, and aliases/duplicates and inconsistent stage labels occur. Snapshot sources also include individual Signal histories with explicit personal-history attribution warnings.
[NFX Signal firm page](https://signal.nfx.com/firms/moonfire-ventures ) was directly read. It names Moonfire, London and a location string also including Finland/United Kingdom, and lists co-investors. It does not supply a reliable fund size or complete firm-level investment history in the accessible rendering. [Akshat Goenka's Signal profile](https://signal.nfx.com/investors/akshat-goenka ), directly read, identifies him as Moonfire partner and reports a $100,000–$5m investment range and $1.5m sweet spot, pre-seed/seed sector rankings and Neuphonic (October 2024) and Mokn (October 2025/May 2026) entries. These are profile claims, not verified firm-wide checks; its experience list implausibly marks numerous historical jobs “Present,” illustrating database limitations. No sign-in was used; introductions and connections remain gated. Both Signal pages are undated, accessed 2026-10-06.
## Fund sizes and stage strategy
| Vehicle | Supported amount/status | Date and evidence | Caveat |
| --- | --- | --- | --- |
| Fund I | USD $60m raised | [Official announcement](https://www.moonfire.com/stories/why-we-raised-a-60m-european-pre-seed-and-seed-fund/ ), 2021-05-06 | Announcement amount; not AUM or a target. |
| Fund II | USD $90m raised | [Official announcement](https://www.moonfire.com/stories/announcing-fund-ii/ ), 2023-05-24 | Separate from Opportunity Fund. |
| Opportunity Fund, subsequently described as Opportunity Fund I | USD $25m raised, for follow-on investment in successful portfolio companies | Same official 2023-05-24 announcement; [Sifted](https://sifted.eu/articles/moonfire-second-fund-news ), 2023-05-24 | Together with Fund II yields the $115m headline, not a $115m individual Fund II. |
| Moonfire Ventures Fund III LP | USD $19,730,000 total securities sold reported; offering amount indefinite | [SEC Form D/A](https://www.sec.gov/Archives/edgar/data/2052718/000101297526000500/xslFormDX01/primary_doc.xml ), filed 2026-05-29 | First sale dated 2025-05-30; 9 investors; offering intended to last over one year. This is a self-reported exempt-offering filing, not a final-close announcement, global fund size, target or AUM. |
Fund III is the newest verified vehicle located in this search. No final close or public target was verified. A third-party [Private Equity International profile](https://www.privateequityinternational.com/institution-profiles/moonfire-ventures.html ), undated, lists Fund III in market from May 2025 and Fund II/Opportunity Fund I closed May 2023, but locks sizes. Do not import a directory's $19m as Fund III's completed fund size. No independently verified current AUM was found. The fund package and securities-sold figure must not be summed into AUM.
The [current official homepage](https://www.moonfire.com/ ), undated, explicitly supports pre-seed and seed investment, describes its approach as industry agnostic, and covers work, security, finance, gaming and health/wellbeing. The [2021 launch](https://www.moonfire.com/stories/today-we-officially-launched-moonfire/ ) describes first money in pre-seed/seed in Europe. Later Series A participation, including Flexion, shows historical follow-on activity; it does not establish a broad initial Series A mandate. Opportunity Fund supports follow-ons. No official current firm-wide check-size schedule was verified; Signal's individual range should remain attributed.
## Named previous deep-tech investments
| Company | Technology rationale and classification | Firm attribution, round/date | Evidence |
| --- | --- | --- | --- |
| Flexion / Flexion Robotics AG | Reinforcement learning, simulation-to-real transfer, vision-language-action models and transformer control for humanoid robots; strong robotics/embodied-AI deep-tech evidence. “Brain” refers to robot autonomy, not human neurotechnology. | Moonfire named in USD $50m Series A announced 2025-11-20 with DST Global Partners, NVentures, redalpine and Prosus; company also names Moonfire in prior USD $7.35m seed a few months earlier, with Frst/redalpine. Exact seed date not supplied. | [Official CEO announcement](https://flexion.ai/news/flexion-raises-50m-to-build-the-brain-of-humanoid-robots-at-scale ), 2025-11-20; [Crunchbase News reporting](https://news.crunchbase.com/venture/robotic-brain-building-startup-flexion-raise/ ), 2025-11-20. Both rounds are total raises, not Moonfire checks. |
| Stanhope AI | UCL spinout applying Free Energy Principle/active inference from computational neuroscience to adaptive autonomous systems; research-based AI/deep tech and neuroscience-inspired computing. | Moonfire explicitly participated in GBP £2.3m seed announced 2024-03-20, led by UCL Technology Fund, with Creator Fund, MMC and Rockmount among participants. | [Official investee announcement](https://www.stanhopeai.com/press-releases/stanhope-ai-raises-23-million-for-ai-inspired-by-neuroscience-that-teaches-machines-to-make-truly-human-like-decisions-for-the-first-time-ever ), 2024-03-20; [Moonfire portfolio discussion](https://www.moonfire.com/stories/august-24-ai-hype-and-hiring/ ), August 2024; [Tech.eu](https://tech.eu/2024/03/20/stanhope-raises-ps23m ), 2024-03-20. |
| Neuphonic | Low-latency text-to-speech models and incremental speech synthesis algorithm; technical AI infrastructure with claimed patent-pending innovation. More qualified deep-tech classification than robotics; performance claims are company-reported. | Moonfire led GBP £3m pre-seed announced 2024-10-17, joined by Tiny VC, Salica Oryx and Cur8. | [Official company about page](https://www.neuphonic.com/about ), undated, confirms Moonfire backing; [founder announcement](https://www.linkedin.com/posts/soahmad_exciting-times-at-neuphonic-today-im-thrilled-activity-7252625439435755520-KSbE ), date not reliably exposed; [Tech.eu funding report](https://tech.eu/2024/10/17/neuphonic-raises-3m-fo-text-to-speech-voice-ai/ ), 2024-10-17. |
AI applications, ordinary enterprise SaaS, gaming products and security tools in the snapshot are not automatically deep tech. Filigran's cybersecurity platform may merit separate technical assessment but is not used here as unequivocal research-based deep-tech evidence. The [official portfolio](https://www.moonfire.com/portfolio/ ), undated, separately labels “Prior Investments” including Climate Corp and StarkWare: these should not be attributed to Moonfire without firm-level transaction evidence, given Ljungman's prior Atomico career.
## Neurotech and adjacent investments SHOW MORE
team@apexlogos.ai · 23 days ago
MATCH 
Y Combinator
Beglaubigt.de$3M · 2026
Weave$— · 2025
Weave$— · 2025
healthtech-1$— · 2024-07-05
Pythagora$4M · 2024-05-15
Stellar Sleep$6M · 2024-02-06
SigmaOS$4M · 2022-11-16
Lightdash$8M · 2022-10-06
LiveFlow$3M · 2021-12-21
Pythagora AI$4M · Unknown date
Flagright$2M · Unknown date
Sonia$3M · Unknown date
Inovo.vc
Adam Lasri
All Gravy$3M · 2022-10-27
Andreas Helbig
Andrew Nutter
Immortal Game$3M · Unknown date
Pento$15M · 2021-05-19
David Grimm
Stanhope AI£2M · 2024-03-20
Frontline Ventures
General Catalyst
Ian Hogarth
Claimer$4M · 2022-09-14
Keith Grose
MMC Ventures
Phillip Chambers
Point Nine Capital
Redalpine
Speedinvest
Terese Hougaard
