Auriga Partners announces €80M interim closing for its second cybersecurity fund

Auriga Partners has closed an €80 million interim round for its second cybersecurity vehicle, Auriga Cyber Ventures II. The French firm wants to grow the fund to €100 million, with a hard cap at €120 million, and keep its focus on early-stage European security startups.

This is not a broad tech fund wearing a cybersecurity badge. Auriga says it will invest from pre-seed to Series A, with first cheques of €500,000 to €5 million. Most of the capital will go into minority equity stakes, and about half the fund is being held back for follow-on rounds in the companies it backs.

The target is around 30 startups across Europe, with attention on AI security, identity protection and data security. The fund has already backed four companies: Finovox, which works on document fraud prevention; Fleuret, which builds AI-powered automated penetration testing; Mankinds, which focuses on AI systems auditing and compliance; and Nextident, which is working on AI agent security.

Auriga says it could add two or three more deals by the end of 2026. This fund follows its first €55 million cybersecurity vehicle, launched in 2022. Over the past five years, the firm says it has backed 30 European cybersecurity startups and reviewed more than 2,000 companies since 2022.

There’s also a very specific kind of bet here: not just software, but support. Auriga says its network of investors, founders and industry people is part of the pitch, and names Wallix, Vade, Sentryo and Oodrive among the companies tied into that circle. The firm says its investments in Vade and Nexthink produced more than €500 million in distributions to investors during 2025–2026.