Aspire11, a Prague-based investment platform led by Pavel Mucha, has launched a €500 million pension-backed fund aimed at connecting long-term pension capital to private markets and venture capital, with the goal of supporting innovation and economic growth across Europe.

Inspired by the Canadian Maple Model, Aspire11 estimates that redirecting just 1% of European pension assets could unlock over €87 billion annually, totaling more than €1.1 trillion over ten years, highlighting the significant potential impact.

Mucha, with a background in VC from Kaya, emphasizes demonstrating the viability of venture capital as a pension asset class, aiming to 'wake the sleeping capital' and address Europe's risk aversion compared to North America.

The fund employs a two-part strategy called Tribes and Eternals, investing in early-stage ventures focusing on emerging technologies and supporting long-term companies with investments held for over 20 years to foster sustained value.

This 'barbell' approach combines investments in innovative startups and long-term companies, aiming to create a balanced portfolio that supports both technological advancement and generational value.

Industry leaders and policymakers, including representatives from Techleap.nl, Mews, Index Ventures, and the European Central Bank, support the initiative, emphasizing the importance of increasing pension fund investments in innovation to boost Europe's economy.

Endorsements from figures like Jan Hammer and Kai Hansen highlight the shift in European tech entrepreneurship and the need for patient, long-term investments to support transformative companies.

Aspire11's approach involves direct investment into venture capital and entrepreneurs, bypassing intermediaries to enable long-term growth and reduce pressure for short-term exits, emphasizing fee efficiency and active participation.

By investing directly into VC investors and startups, the fund aims to foster enduring, industry-defining businesses and provide a stable foundation for long-term prosperity.

The initiative seeks to transform pension savings into a force that supports both secure retirements and innovative startups, ultimately benefiting society and Europe's economic future.

Aspire11 plans to deploy €500 million over five years, with ambitions to raise more than €2 billion in the future, focusing on sectors like hardware, software, advanced industrial tech, and biology.

Regulatory changes in the EU are gradually enabling pension funds to participate more in venture capital, and Mucha stresses the importance of experienced private markets professionals to accelerate pension funds' learning curve in VC investing.

Aspire11 plans to allocate about 25% of its fund to other VC funds and 75% directly to growth companies, with investments of up to €30 million in each, targeting Series B to C stages with a hold period of over 20 years.