Lucid Capital is a Berlin-based venture capital firm backing AI-first technology companies from inception. Its primary vehicle, Lucid Capital Fund I, is a €36 million fund investing €500k–€1.5m in European AI startups at the earliest stages.
36% of their portfolio is in Enterprise Software. Deal activity increased 100% year-over-year (2 deals in the last 12 months). Their most common stage is seed (55% of deals). Average disclosed round size is $22.9M (across 7 rounds with reported amounts).
Portfolio
9
Fund Size
—
Top Stage
Seed
Last 12 Mo
2
Team
SX
San X.
CEO
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
11 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Bayshore | Seed | $8M | Jun 2026 |
 Bayshore AI | Seed | $8M | Jun 2026 |
 Conduct | Seed | — | Sep 2025 |
 Sonia | Seed | — | Jan 2025 |
 Forward Earth | Pre-Seed | — | Jun 2024 |
 DataFleets | Unknown | $4.5M | — |
| Mmkind | Pre-Seed | — | — |
 Conduct AI | Series A | $60M | — |
| Conduct AI | Seed | $12M | — |
 Bayshore | Seed | $8M | — |
| Conduct | Series A | $60M | — |
Top Co-Investors
BOOOM7 shared
Creandum4 shared
Index Ventures3 shared
SAP3 shared
Earlybird Venture Capital3 shared
Heliad AG3 shared
Iconiq Capital, LLC2 shared
Speedinvest1 shared
Revent1 shared
private angel investors1 shared
Stanford's StartX Fund1 shared
Peterson Ventures1 shared
AME Cloud Ventures1 shared
Lightspeed Venture Partners1 shared
The MBA Fund1 shared
Morado Ventures1 shared
Kvanted1 shared
Fortino Capital1 shared
Possible Ventures1 shared
UVC Partners1 shared
Last updated: 20 October 2026