Calm/Storm Ventures Fund II

About Calm/Storm Ventures Fund II

Fund with €27M base plus €3M co-investment vehicle

Investment Focus

Location / RegionAustria

Funding StagePre Seed

Industry Focus

Digital Health

Fem Tech

Wellness Lifestyle

Investor Signals Profile

active

Sweet Spot

European HealthTech or Austrian founder at pre-seed/seed seeking high-touch lead investor

HealthTech

pre-seed/seed

Austrian founders

digital therapeutics

pan-European

AI diagnostics

robotics in healthcare

Bullish Signals

Fund II closed at €27M with strategic HealthTech LPs like SwissHealth and Bertelsmannblog

Doubling AUM to €50M signals strong LP confidence and scaling capacityblog

Proven exits: Kaleido AI acquired by Canva, Storyblok in portfolioblog

Portfolio co SquareMind raised $18M Series Alinkedin

Backed SquareMind pre-seed — strong follow-on signallinkedin

Active in robotics + AI diagnostics thesislinkedin

Contrarian Signals

Only 2 tracks: HealthTech or Austrian founders — very narrow scopeblog

75% Europe-focus limits non-European founder accessblog

Founder Do's

Show clear HealthTech angle — preventive medicine, diagnostics, digital therapeutics, or mental health

Demonstrate European HQ and global ambition simultaneously

Highlight Austrian roots if applicable — home market track is active

Be ready for a lead investor dynamic with €500k average ticket

Leverage LP network for healthcare distribution and partnership stories

Founder Don'ts

Avoid pitching outside HealthTech or Austrian Entrepreneurs tracks

Don't approach without early product traction — fund targets pre-seed to seed execution stage

Avoid purely local-market plays with no European or global scalability

Key GPs & Partners

Lucanus Polagnoli

General Partner

hands-onex-founderthesis-driven

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Fund Overview

Fund Size€27M

Saves0

Website

Key People

Lucanus Polagnoli, Stephanie Urbanski, Hansi Hansmann

Lucanus PolagnoliGeneral Partner