Index Ventures is a transatlantic multi-stage venture firm founded in 1996. It is the most consistent institutional backer of Mistral, writing the lab's first cheque before incorporation and participating in every round through the record €3B Series D. On the US side it holds Scale AI, Anthropic, Fireworks AI, Cohere and Perplexity.
Index describes itself as investing 'in who you are, not just what you do,' maintaining deep long-term founder relationships rather than transactional allocations. That conviction model is what let Julia Andre write Mistral's first cheque before incorporation and keep following on through the largest European round ever raised.
Index is the rare top-tier fund with genuine roots on both sides of the Atlantic. Its European franchise — Mistral from seed, Scale AI's European founder Alexandr Wang, plus Cohere and Hippocratic AI in adjacent markets — makes it the default institutional partner for founders building sovereign or enterprise AI from Europe.
The AI book spans frontier and open-weight labs (Anthropic, Mistral, Cohere), model-serving infrastructure (Fireworks AI, Lightning AI), AI search and applications (Perplexity, Harvey, Hebbia, ArthurAI), and physical AI (Physical Intelligence) — mirroring its multi-stage platform.
Its fund architecture (Origin seed + venture + Growth VII) lets Index stay in companies from a €105M Mistral seed to a €3B Series D — the same reason it could lead Scale AI's Series B in 2018 and still participate in its 2025 rounds.
Index Ventures was founded in 1996 in Geneva by Neil Rimer, David Rimer and Giuseppe Zocco, with its operational headquarters in London and additional offices in San Francisco, New York and Jersey. It has raised over US$15B since inception, with roughly US$11.7–13B under management across venture, growth and its Origin seed fund (most recent closings: Index XII US$800M and Growth VII US$1.5B, 2024). More than 100 of its portfolio companies have become unicorns.
Disclosed Index positions across frontier labs, AI infrastructure and AI-native applications, from indexventures.com and funding announcements.
First institutional cheque pre-incorporation (2023); in every round Seed→D including the €3B Series D (2026) — Julia Andre leads the relationship.
Backed Series B (2018) through Series G (2025) — among its longest AI holds; valued US$29B.
Investor in the Claude-maker through Series H (US$965B, 2026).
Fast inference platform; led its Series D (US$17.5B, 2026).
Canadian enterprise LLM lab; Index is an investor.
AI answer engine; backed successive rounds.
Generative AI for law firms; Index investor (valued US$11B).
Safety-first medical LLM; Index investor.
Matrix-style document reasoning; Index investor.
Robotics foundation models (π); Index investor.
Model monitoring and evaluation; Index investor.
PyTorch training platform (PyTorch Lightning); Index investor.
Fine-tuning and adaptation layer for production LLMs; Index investor.
Companies that built Index's franchise and whose platforms now carry AI.
Design platform shipping generative features; Index led early.
Europe's most valuable private company (US$115B).
Cybersecurity leader; Index is an investor.
Payments platform; IPO 2018.
Backed pre-acquisition (Salesforce, 2021).
Consumer platform with AI-native roadmap.
Consumer platform with AI-native roadmap.
No rounds led by Index Ventures are in the tracker yet. Deals will appear here as they are recorded.
The people-first model taken literally: Index describes investing 'in who you are, not just what you do', and Julia Andre wrote Mistral's first institutional cheque before incorporation in 2023 on the strength of the team. The Origin seed fund exists to make such checks structurally possible — and the follow-through is participation in every round since, through the record €3B Series D.
Fund architecture: Origin for seed, Index XII (US$800M) for venture, Growth VII (US$1.5B) for growth — one multi-stage platform. That span is why the same firm could enter Mistral at a €105M seed and stay through Europe's largest private round, and hold Scale AI from its 2018 Series B through Series G at a US$29B valuation.
Consistency of ownership is not the same as writing the largest cheque. Samsung led the September 2026 Series D — Europe's biggest private round — announcing a chipmaking partnership the same day; Index participated in every round from seed. When strategic capital with industrial agendas enters, financial specialists keep their stake but stop setting the price.
Roots and book on both sides: founded in Geneva in 1996, run from London, with San Francisco and New York offices. The European franchise — Mistral from seed, Cohere — pairs with a US book spanning Anthropic through Series H, Fireworks AI (led Series D at a reported US$17.5B in 2026) and Perplexity, making Index a default partner for founders crossing the Atlantic in either direction.