Speedinvest, the Austrian venture capital firm, is cutting 10% of its team following a period of internal restructuring, according to sources familiar with the matter. The move comes as the firm evaluates its operations after raising €80 million for its latest fund, with reports indicating that the cuts affect multiple departments across the organization.

This development reflects broader challenges facing the venture capital industry, where firms are reassessing their cost structures amid a more difficult fundraising environment. The Austrian startup ecosystem, which Speedinvest has been a significant player in, has seen increased competition for deals and pressure on returns. Sources suggest the restructuring aims to streamline operations and better position the firm for future market conditions.

The layoffs at Speedinvest highlight the ongoing adjustments within the VC sector as firms navigate a post-boom landscape. While the company has not publicly commented on the specific numbers, the move signals a strategic shift as the firm seeks to optimize its resources. Industry observers note that such restructuring efforts are becoming more common as firms adapt to changing market dynamics.