# Index Ventures

> Source: https://aiwiki.ai/wiki/index_ventures
> Updated: 2026-06-07
> Categories: AI Companies, Venture Capital
> From AI Wiki (https://aiwiki.ai), a free encyclopedia of artificial intelligence. Quote with attribution.

**Index Ventures** is a venture capital firm founded in 1996 in Geneva, Switzerland, that today operates from dual hubs in London and San Francisco, with additional offices in New York City, Geneva, and Jersey. Founded by brothers Neil Rimer and David Rimer together with Giuseppe Zocco, the firm grew from a small European technology investor into one of the most consistent backers of breakout software, fintech, and artificial-intelligence companies on both sides of the Atlantic. Index invests across stages, from seed through late-stage growth, and its portfolio over nearly three decades has included [Skype](/wiki/skype), Dropbox, [Figma](/wiki/figma), Roblox, Adyen, Datadog, Revolut, Wiz, and a deep roster of AI companies such as [Mistral AI](/wiki/mistral_ai), [Cohere](/wiki/cohere), [Scale AI](/wiki/scale_ai), DeepL, Weaviate, and Cartesia. As of 2024 the firm reported funding 108 unicorns, 23 decacorns, and 57 companies that have gone public over its 28-year history.

## Founding in Geneva (1996)

Index Ventures traces its institutional roots to Index Securities, a Swiss bond-trading and securities firm established by Gerald Rimer in Geneva in 1976. In 1992 Gerald recruited his son Neil Rimer to help build a technology investment arm, and in 1996 Neil, his brother David Rimer, and Giuseppe Zocco formally launched Index Ventures as a dedicated venture capital firm. Neil Rimer, a Swiss-Canadian investor, holds a bachelor's degree in history and economics from Stanford University and an MBA from Harvard Business School. Zocco had previously spent five years as a consultant at McKinsey & Company across several European offices before co-founding the firm.

The partners raised an initial pilot fund of roughly $17 million, followed by a $180 million fund in 1998. Early investments from this period included SCM Microsystems, later known as Identiv, and the chipmaker Virata, which subsequently merged with GlobeSpan in a transaction valued at about $1.3 billion. These early results helped establish Index as a credible European technology investor at a time when the continent had few dedicated venture firms of scale.

## Transatlantic expansion (London and San Francisco)

A defining feature of Index Ventures is its evolution from a Geneva-based firm into a transatlantic operation. Danny Rimer, the third Rimer brother, joined the firm and opened its London office in 2002, which over time became the firm's principal European base and effective headquarters. Danny Rimer had previously worked as a technology analyst and investor in the United States, and he brought a Silicon Valley sensibility to Index's European deal flow. Under his influence the firm backed companies including Skype, MySQL, and later Dropbox, in which Index participated in a large Series B financing in 2011.

Index opened its San Francisco office in 2011, marking its formal entry into the North American market and giving the firm a genuine presence in Silicon Valley alongside its European operations. Danny Rimer led much of this North American expansion. The firm later added a New York City office in 2022, with partners Martin Mignot and Shardul Shah relocating there to deepen Index's presence on the United States East Coast. The result is a firm that runs a single global partnership across European and American tech ecosystems rather than treating them as separate franchises.

In 2016 Index spun out its life sciences practice as an independent firm, Medicxi, which launched with a 210 million euro fund backed in part by GSK and Johnson & Johnson Innovation. This move sharpened Index's own focus on software, internet, fintech, and, increasingly, artificial intelligence.

## Funds and assets under management

Index Ventures raises separate vehicles for early-stage venture, growth-stage, and seed investing. The firm's fund sizes grew substantially through the 2010s and early 2020s. In 2021 Index announced approximately $3.1 billion across multiple funds, including roughly $900 million for early-stage venture, $2 billion for growth-stage investing, and a $200 million seed allocation, followed by a dedicated $300 million seed fund in 2022.

In July 2024 the firm announced $2.3 billion in new capital across two funds: an $800 million venture fund and a $1.5 billion growth fund, raised alongside its existing $300 million seed vehicle. According to the firm, the funds were assembled in a matter of weeks, came almost entirely from existing limited partners, and were oversubscribed. Partner Nina Achadjian noted that the funds were raised in a few weeks from mostly existing LPs, while partner Shardul Shah emphasized that Index deliberately avoids an asset-aggregation strategy, in contrast to some larger peers. The 2024 total was about $600 million smaller than the 2021 raise, reflecting a broader cooling in the venture market, and the fundraising cycle stretched to roughly three years between flagship funds.

Reported figures for Index's total assets under management vary by source and methodology. Wikipedia cites approximately 11.7 billion euros in total assets, the firm itself has been described as managing on the order of $10 billion or more, and some regulatory and aggregator filings report higher figures. Because these numbers differ materially across sources, the precise AUM should be treated as approximate.

## AI portfolio

Index Ventures has been an active investor in artificial intelligence across foundation models, infrastructure, and applications, and the firm's 2024 fundraising explicitly emphasized AI. Partner Erin Price-Wright, who joined Index in 2019 and focuses on early-stage enterprise and AI, has framed AI as a general-purpose enabling technology that will eventually become as ubiquitous and commoditized as databases, embedded across every layer of enterprise software rather than serving as a standalone differentiator. Partners including Shardul Shah have argued publicly that AI will open whole new categories of the economy to venture investment.

The firm's AI bets include large language model developers, vector-database and infrastructure companies, real-time voice and audio model builders, and vertical AI applications. Among its highest-profile foundation-model holdings is [Mistral AI](/wiki/mistral_ai), the French [generative AI](/wiki/generative_ai) company, in whose record European seed round Index participated in June 2023. Index also led DeepL's $300 million round in 2024 and led the seed financing of Cartesia, a real-time voice AI company, in late 2024. The firm has additionally backed AI agent and enterprise-software companies, reflecting its conviction in [AI agents](/wiki/ai_agents) as a major emerging category. Index's broader AI thesis sits alongside competing strategies from firms such as [Andreessen Horowitz](/wiki/andreessen_horowitz) and [Sequoia Capital](/wiki/sequoia_capital), and it competes with both for the strongest AI rounds. Notably, Index was reported in late 2024 and 2025 to be among the investors pursuing the AI coding company Anysphere, maker of Cursor, though that company's publicly disclosed rounds have been led by Thrive Capital, Andreessen Horowitz, Accel, and Coatue rather than Index.

The following table summarizes notable AI-related investments, with Index's role attributed as precisely as available sources allow. Round leadership in venture financings is frequently shared or contested, so participation is distinguished from lead status where the record is clear.

| Company | Round / Year | Index's Role |
| --- | --- | --- |
| [Scale AI](/wiki/scale_ai) | Series B and Series C (Series C, 2019) | Early investor and participant; Founders Fund led the Series C |
| [Cohere](/wiki/cohere) | Series C, June 2023 | Participant; Inovia Capital led |
| [Mistral AI](/wiki/mistral_ai) | Seed, June 2023 | Participant; Lightspeed led the ~105 million euro seed |
| Weaviate | Series B, April 2023 | Lead (~$50 million) |
| DeepL | Growth round, May 2024 | Lead (~$300 million at ~$2 billion valuation) |
| Cartesia | Seed, December 2024 | Lead (~$22 million) |
| Cartesia | Growth round, October 2025 | Participant (~$100 million, with Kleiner Perkins, Lightspeed, NVIDIA) |
| Decagon | Series D, late 2025 / early 2026 | Co-lead with Coatue (~$250 million) |

## Notable partners and investments

Index Ventures runs a single global partnership. Founding partners Neil Rimer, David Rimer, and Giuseppe Zocco built the firm, and Danny Rimer became one of its most prominent investors after opening the London and, later, the North American operations. As the founding generation has begun planning for succession, a younger cohort of partners has taken on greater responsibility, including Shardul Shah, who has focused on security and AI and backed Wiz; Martin Mignot, an early backer of Revolut; Nina Achadjian, who focuses on consumer and software investing; Jan Hammer, a long-time fintech investor associated with Adyen; Mark Goldberg; and Erin Price-Wright on enterprise and AI. Mike Volpi, who joined in 2009 to help establish the firm's San Francisco office and North American operations and who invested in infrastructure, open-source, and AI companies, is now listed as a retired partner. Sarah Cannon and Dominique Vidal have also been partners at the firm.

Beyond AI, Index has been associated with some of the most valuable venture outcomes of the 2020s. The firm was a significant shareholder in [Figma](/wiki/figma), which completed a large initial public offering in 2025, and in Wiz, the cloud-security company that agreed to be acquired by Alphabet for approximately $32 billion in 2025, described at the time as the largest venture-backed acquisition on record. Index was also an early investor in Scale AI, in which Meta Platforms took a large minority stake in 2025 in a transaction that valued the data-labeling company at about $29 billion. The firm is additionally a major shareholder in the fintech company Revolut, the database company Datadog, the payments company Adyen, and the gaming platform Roblox. Index has stated that over a recent twelve-month span its portfolio companies realized well over $100 billion in headline value through public listings and acquisitions, a streak driven heavily by Figma, Wiz, and Scale AI.

Index Ventures continues to invest globally from its London and San Francisco hubs, with a stated emphasis on backing long-term technology leaders rather than chasing short-term returns, and with AI as a central theme of its 2024 to 2026 investing.

## References

1. [Index Ventures, Wikipedia](https://en.wikipedia.org/wiki/Index_Ventures)
2. [Neil Rimer, Wikipedia](https://en.wikipedia.org/wiki/Neil_Rimer)
3. [Danny Rimer, Wikipedia](https://en.wikipedia.org/wiki/Danny_Rimer)
4. [Index Ventures raises $2.3B for new venture and growth funds, TechCrunch](https://techcrunch.com/2024/07/09/index-ventures-raises-23-billion-for-new-venture-and-growth-funds/)
5. [Index Ventures Announces $2.3bn in New Funds at a Historical Inflection Point for Startups, Business Wire](https://www.businesswire.com/news/home/20240709136755/en/Index-Ventures-Announces-$2.3bn-in-New-Funds-at-a-Historical-Inflection-Point-for-Startups)
6. [Index Ventures raises $2.3bn across two new funds to double down on AI, Sifted](https://sifted.eu/articles/index-ventures-fund-ai-latestnews)
7. [The VC behind Mistral, Revolut and Slack just raised $2.3 billion, Fortune](https://fortune.com/europe/2024/07/10/vc-firm-index-ventures-mistral-revolut-slack-2-3-billion-venture-capital-fund-invest-ai-champions/)
8. [Here's How Index Ventures Is Investing In An Era Where 'Every Company Will Have AI', Crunchbase News](https://news.crunchbase.com/ai-robotics/index-ventures-ai-investment-price-wright-cohere-weaviate/)
9. [France's Mistral AI blows in with a $113M seed round at a $260M valuation, TechCrunch](https://techcrunch.com/2023/06/13/frances-mistral-ai-blows-in-with-a-113m-seed-round-at-a-260m-valuation-to-take-on-openai/)
10. [Mistral AI secures 105M in Europe's largest-ever seed round, TNW](https://thenextweb.com/news/mistral-ai-secures-105m-europes-largest-ever-seed-round)
11. [AI language translation startup DeepL nabs $300M on a $2B valuation, TechCrunch](https://techcrunch.com/2024/05/22/deepl-the-ai-language-translation-startup-nabs-300m-on-a-2b-valuation-to-focus-on-b2b-growth/)
12. [Polish-founded startup DeepL raises $300M led by Index Ventures, Vestbee](https://www.vestbee.com/insights/articles/deepl-raises-300-m-led-by-index-ventures)
13. [Building the Next Generation of Real-Time AI Models: Our Investment in Cartesia, Index Ventures](https://www.indexventures.com/perspectives/building-the-next-generation-of-real-time-ai-models-our-investment-in-cartesia/)
14. [Anysphere, which makes Cursor, has reportedly raised $900M at $9B valuation, TechCrunch](https://techcrunch.com/2025/05/04/cursor-is-reportedly-raising-funds-at-9-billion-valuation-from-thrive-a16z-and-accel/)
15. [AI-Powered Coding Tool Anysphere Raises $900M at $9.9B Valuation, Crunchbase News](https://news.crunchbase.com/ai/anysphere-cursor-venture-funding-thrive/)
16. [Decagon revenue, valuation & funding, Sacra](https://sacra.com/c/decagon/)
17. [Medicxi Ventures, Formerly Index Ventures Life Sciences, Launches as an Independent Venture Capital Firm, PR Newswire](https://www.prnewswire.com/news-releases/medicxi-ventures-formerly-index-ventures-life-sciences-launches-as-an-independent-venture-capital-firm-and-announces-closing-of-a-210m-fund-including-gsk-and-johnson--johnson-innovation-567314271.html)
18. [Scale AI Series C / data-labeling funding, The Robot Report](https://www.therobotreport.com/scale-ai-series-c-annotation-services-ai-robotics/)
19. [AI Startup Cohere Locks Up $270M At $2.2B Valuation, Crunchbase News](https://news.crunchbase.com/ai-robotics/venture-funding-startup-cohere-series-c/)
20. [Mike Volpi, Index Ventures team page](https://www.indexventures.com/team/mike-volpi/)