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VC FundPuts its own capital into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 8 SOURCES

Lucid Capital

Also known as Lucid Capital Management GmbH, Lucid Capital I, Lucid, lucidcap.co

Berlin 'AI inception' VC founded 2023 by Johann Nordhus Westarp and Srećko Džeko; closed oversubscribed EUR 36m Fund I in Feb 2026; tickets EUR 0.5–1.5m.

Berlin AI inception fund founded 2023 by the former Flash Ventures team; not Lucid Motors or other 'Lucid Capital' firms. The domain lucid.capital is unrelated (for sale).

HEADQUARTERS
Berlin, Germany
FOUNDED
2023
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
2 people

Focus

STAGES
Pre-SeedSeed
SECTORS
Artificial IntelligenceSoftware & SaaS
ASSET MIX
Venture capital
GEOGRAPHY
Europe

Overview

Lucid Capital is an investment firm backing AI-first technology companies from inception, often before a company is incorporated. It was started in 2023 by Johann Nordhus Westarp and Srećko Džeko, who previously ran the Flash Ventures incubator, with set-up support from Capnamic. In February 2026 it announced the close of Lucid Capital I, an oversubscribed EUR 36m fund. The manager, Lucid Capital Management GmbH in Berlin, names BaFin as its supervisory authority.

Investment thesis

Inception-stage investing ('conviction before incorporation'): backing AI-first founders from day zero, often before a company exists, with first cheques of EUR 500k–1.5m in Europe, to help them go from 0 to 1.

PORTFOLIO (5)

  • mkind
    Artificial Intelligence · since 2026
  • bayshore
    Software & SaaS · since 2026
  • GeneralMind
    Artificial Intelligence
  • Sonia
    Artificial Intelligence
  • forward earth
    Climate & Energy

People

  • Johann Nordhus gen. Westarp
    Founding Partner; Managing Director · source
  • Srećko Džeko
    Founding Partner; Managing Director · source

Links

Frequently asked questions

Lucid Capital is a VC fund based in Berlin, Germany, founded in 2023.

Yes. Lucid Capital invests its own capital in private companies.

Lucid Capital invests at Pre-Seed and Seed stages in Artificial Intelligence and Software & SaaS.

Lucid Capital's stated ticket size is €500K–€1.5M.

Key people at Lucid Capital include Johann Nordhus gen. Westarp (Founding Partner; Managing Director) and Srećko Džeko (Founding Partner; Managing Director).

Lucid Capital's investments include mkind, bayshore, GeneralMind, Sonia and forward earth.

The most recent publicly reported investment by Lucid Capital is mkind (EUR 3m (with Possible Ventures, Kvanted and Fortino Capital)), announced in Jul 2026.

Yes. Lucid Capital manages capital from outside investors.