Cocoa (Cocoa Ventures) is a London-based venture capital firm founded in 2021 by Carmen Alfonso Rico and Anthony Danon. It writes angel-sized cheques of $150k–$500k into pre-seed and seed-stage European startups, acting as an in-house VC for founders without leading rounds.
They made 2 investments in the last 12 months. Their most common stage is seed (58% of deals). Average disclosed round size is $21.5M (across 13 rounds with reported amounts).
Portfolio
16
Fund Size
$23M
Top Stage
Seed
Last 12 Mo
2
Team
CA
Carmen Alfonso Rico
Founder & General Partner
RR
Ronald Rizk
Managing Director and Chief Investment Officer
LG
Lucie Gu
Venture Partner
SF
Samuel Fuentes
Venture Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
19 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Fractile | Series B | $220M | Sep 2026 |
 Calibre | Pre-Seed | $3.3M | Jan 2026 |
 Condukt | Seed | — | Nov 2025 |
| Fractile | Seed | $15M | Jul 2024 |
| Condukt | Pre-Seed | — | Mar 2024 |
| TTwirl | Pre-Seed | — | May 2023 |
 Tilebox | Pre-Seed | $1.7M | Jan 2023 |
 SigmaOS | Seed | $4M | Nov 2022 |
 Atlar | Seed | $5M | Nov 2022 |
 Papaya | Seed | $3.5M | Sep 2022 |
 Yonder | Pre-Seed | — | Sep 2022 |
 Sona | Seed | $6.6M | Mar 2022 |
 Hyperline | Seed | $4.4M | — |
 Gladia | Seed | $4M | — |
 Crewline AI | Seed | $7.1M | — |
 Embedd | Pre-Seed | $2.7M | — |
 Cyclana | Unknown | — | — |
 Arcane | Seed | — | — |
| TTwirl | Seed | $2.6M | — |
Top Co-Investors
Seedcamp4 shared
private angel investors3 shared
Accel3 shared
Lightspeed Venture Partners2 shared
Index Ventures2 shared
Kima Ventures2 shared
Phoenix Court Group2 shared
Sequoia Capital2 shared
Creandum2 shared
8VC2 shared
01A2 shared
Oxford Science Enterprises2 shared
Factorial Capital2 shared
Gigascale Capital2 shared
Buckley Ventures2 shared
Conviction Partners2 shared
Founders Fund2 shared
Felicis2 shared
Atomico1 shared
Last updated: 20 October 2026