Berlin-based investment firm Tenet has announced the launch of a new €80 million fund, aiming to invest in "AI roll-ups" in the European landscape.

Investment Strategy

Tenet, founded by four executives with over 25 years of experience in VC, growth capital, and private equity, adopts an approach that combines venture capital and private equity. The firm aims to invest in companies that implement an "AI roll-up" strategy, which involves acquiring several companies in a service sector (such as accounting, IT, or insurance) and using AI to improve their efficiency.

First Investment and European Focus

Tenet has already made its first investment, allocating €5 million to Taxforce, a German AI-native tax advisory platform. The company aims to bridge the digital gap between the United States and Europe, where the adoption of vertical SaaS solutions by small businesses is significantly lower.

Opportunity in the European Market

Martin Janicki, general partner at Tenet, emphasizes how SaaS solutions have not yet reached the core of the European economy and sees AI as a historic opportunity to solve the succession crisis of European small and medium-sized businesses.