Deep Tech has emerged as a new wave of technology within innovation and scientific progress. Driven by the frontiers of science and bold entrepreneurs, this phenomenon has captured the attention of both European and global venture capital investors, who noticed the remarkable potential of Deep Tech startups. As Dealroom’s report highlights, the resilience of Deep Tech is evident even amid market fluctuations. European Deep Tech startups secured an impressive $17.7 billion in funding in 2022. While this reflects a 22% decrease from the preceding year, it still shows a remarkable 60% surge compared to 2020. It’s also worth noting that in Q3 and Q4 of 2022, Deep Tech stood as the second-best performing sector in the continent, surpassed only by the Energy industry.
This disruptive sector is constantly evolving, and novel segments emerge very quickly. To bring forward more understanding about it, EIT has identified 15 critical domains in the sphere of deep tech, which include:
- Advanced Computing / Quantum Computing
- Advanced Manufacturing
- Advanced Materials
- Aerospace, Automotive, and Remote Sensing
- Artificial Intelligence and Machine Learning, including Big Data
- Biotechnology and Life Sciences
- Communications and Networks, including 5G
- Cybersecurity and Data Protection
- Electronics and Photonics
- Internet of Things, W3C, Semantic Web
- Robotics
- Semiconductors (microchips)
- Sustainable Energy and Clean Technologies
- Virtual Reality, Augmented Reality, Metaverse
- Web 3.0, including Blockchain, Distributed Ledgers, NFTs
For VCs, these Deep Tech solutions are great investment opportunities. Startups often scale on multiple markets, and their technological edge and impressive IP portfolio set them apart from traditional competitors. However, the initial risk is substantial, that must be said - particularly in terms of technical feasibility and the capital and time-intensive nature of these ventures, which require substantial R&D investments. Still, with their comparatively lower initial valuations and strong appeals as potential acquisitions, Deep Tech startups are a promise of a substantial return on investment—a fact not lost on VCs who view Deep Tech as the second most promising segment within the venture capital landscape.
So, as Deep Tech garners significant VC attention, dedicated funds specifically aimed at investing in novel technologies emerge. This article will discover some of the leading Deep Tech-focused funds within the European venture capital scene.
Here are the top European Deep Tech VC Funds:
- Elaia
- APEX Ventures
- Vsquared Ventures
- IQ Capital
- Atomico
- Seraphim Space
- UVC Partners
- Jolt Capital
- Quantonation
- AirStreet Capital
- DeepTech Labs
- Voima Ventures
- Conception X
- Oxford Science Enterprises
- Cambridge Innovation Capital
- High-Tech Gründerfonds
- Hoxton Ventures
- Promus Ventures
- Lunar VC
- 2xN
- Silicon Roundabout Ventures
- Lakestar
- Herius Capital
- DeepTechXL
- Sunfish Partners
- Octopus Ventures
- Earlybird
- Index Ventures
- b2Ventures
- SOSV
- Supernova Invest
- Speedinvest
- Verve Ventures
- Amadeus Capital Partners
- DeepTech & Climate Fonds (DTCF)
- Faber
- Aenu
- OTB Ventures
- The FundingBox Deep Tech Fund
- Innovation Industries
- 01Ventures
- Curiosity Ventures
- Outsized Ventures
- Walden Catalyst
- Adara Ventures
- Black Pearls VC
- Armilar Venture Partners
- Butterfly Ventures
- OpenOcean Ventures
- 360 Capital
- Industrya
- Science Creates
- Space Ventures Investors
- Vigo Ventures
- HCVC
- Progress Tech Transfer Fund
- Invest NL
- Ahren Innovation Capital
- Freigeist
- Fly VC
- Cottonwood VC
- MIG Capital
- Balderton
- DeepTech Equity NL
- Aper Ventures
Deep Tech-focused VCs:
IQ Capital
Operating from the UK and deeply ingrained in the Cambridge tech and science scene, IQ Capital takes the lead in early-stage deep-tech venture capital. Focusing on game-changing sectors like computer science, energy, life sciences, fintech, space, and advanced engineering, IQ Capital has backed over 30 new investments in the past three years. The VC fund is currently investing from their fourth fund on the scale from £0.5 million to £10 million per company, targeting disruptive deep tech across sectors like generative AI, advanced engineering, space tech, quantum hardware, cyber security, and synthetic biology. They seek Seed and Series A opportunities with strong deep-tech IP and offer follow-on investments of up to £30 million through their Growth Fund.
Vsquared Ventures
Based in Germany, Vsquared Ventures supports audacious entrepreneurs whose ideas tend to venture into the realm of the seemingly impossible. They are early-stage backers, investing in deep-tech enterprises that address society's most pivotal challenges, with a strategic emphasis on pioneering quantum and novel computing, sustainable energy solutions, robotics, AI/ML, emerging space technologies, synthetic biology, and healthcare innovation. Their team, comprised of founders, academics, operators, and innovators, has nurtured over 30 companies, forming one of Europe's leading deep-tech portfolios.
Elaia
HQ in Paris, and with offices in Barcelona and Tel Aviv, A, and TEL AVIV, Elaia emerges as a prominent force in European venture capital, specializing in digital and deep tech domains. With a strong track record, Elaia VC maintains robust ties with deep tech academia and prides itself as an entrepreneur-friendly sparring partner. Elaia VC's investment thesis spans from Pre-Seed to Series B, with ticket sizes ranging from 300K to 15M per company. The firm targets high-potential B2B startups in the digital, deep tech, and biotech sectors, primarily within Europe and Israel. With a global outlook, the firm nurtures local innovation while fostering the ambitions of visionary founders.
APEX Ventures
Based in Austria, APEX Ventures emerges as an influential VC fund, steering the trajectory of deep tech and medical advancements in Europe. They are focused on early-stage companies, at pre-seed and seed stages with additional capital reserved for follow-on investments. Encompassing AI, quantum tech, and pioneering medical innovation, the firm's investment mission is to drive lasting industry change. APEX Ventures commits initial funding ranging from EUR 500k to 1.5m, to companies located mostly in the DACH and CEE regions, occasionally venturing into the Nordics and the United States.
OTB Ventures
OTB Ventures is a leading European venture capital firm specializing in DeepTech investments. The firm operates from two offices in Amsterdam, Netherlands, and Warsaw, Poland, which gives them a unique advantage in accessing deal flow from Central and Eastern Europe. OTB Ventures focuses on early growth startups in the late Seed, Series A, and Series B stages, investing in companies that develop groundbreaking technologies in four key verticals: SpaceTech, AI & Automation, FinTech, and Cybersecurity. OTB Ventures seeks visionary entrepreneurs with game-changing ideas and the ability to execute them. They encourage founders to embrace courage, passion, and resilience, providing unwavering support throughout the ups and downs of the entrepreneurial journey. In terms of investment focus, OTB Ventures goes beyond scratching the surface and delves into the realm of DeepTech. They thrive on complexity and challenge conventional definitions, coining the term "Real Tech" to describe sophisticated, multi-faceted, and paradigm-shifting technologies. OTB Ventures aims to drive real value and catalyze transformative change by investing in Real Tech.
Quantonation
Quantonation is the first early-stage venture fund exclusively dedicated to Quantum Technologies startups, with a key focus on areas such as deep physics, quantum computing, quantum communication, and post-quantum as well as quantum sensing. Quantumnation is contributing to the harnessing of quantum properties like superposition and entanglement and advancing fields like molecular design, high-performance calculation, and ultra-precise sensing, through strategic support to the most promising entrepreneurs in the field. They are based in Paris, but their investment scope is global, seeking pre-seed, seed, and Series A startups with a strong technology background originating from labs.
Seraphim Space
Operating out of the UK, Seraphim Space is one of the leading specialist investors, dedicated to the SpaceTech sector. Its industry impact is proven through an impressive portfolio of over 90 supported SpaceTech companies, as well as the support of international space agencies, including Airbus, SES, Teledyne, Telespazio, SSTL MDA, the UK Space Agency, and the European Space Agency. Across their investment funds, Seraphim Space Accelerator, and Seraphim Space Investment Platform, they are uniquely equipped to support space entrepreneurship from idea inception, growth, scale, and eventually exit. Currently, they are looking for investment opportunities at Series B and beyond.
Jolt Capital
Jolt Capital, based in Paris, is a private equity growth investor, that specializes in mid-sized deep tech companies. Their strategy focuses on software and hardware, spanning sectors like cybersecurity, sensors, AI, and robotics. By providing growth capital, they enable expansion into new markets, acquisitions, and value creation while managing risks. They are especially focused on companies with revenues between €10 million and €50 million, not only providing them with financial resources but also with an understanding of scaling challenges and strategic guidance.
Air Street Capital
Based in London, Air Street Capital is a VC firm dedicated to fueling AI-first technology and life science companies. They are not just investors, but partners in the journey, jumping in from the earliest stages to navigate the intricate terrain of product, market, and technology strategy, starting on day one. Air Street’s investment ticket typically ranges from $100K to $5.0M, with an average investment of around $1.5M
DeepTech Labs
Based in the Cambridge academic, scientific, and commercial ecosystem, DeepTech Labs is both an accelerator and venture capital fund on a mission to forge the world's premier Deeptech companies. Their program runs twice annually, targeting early-seed and late-seed startups with the goal of embedding the cohort in the network of successful entrepreneurs, expert practitioners, leading researchers, and Deep Tech organizations worldwide. They extend investment opportunities to early-seed and late-seed startups post-program, ranging from £100K to £350K and setting the stage for follow-on investment at Series A
Conception X
Headquartered in London, Conception X pioneers a new and very interesting concept in the field of deep tech science, connecting the world of academia with tech entrepreneurship. Their intensive 9-month program transforms Ph.D. students into the Deep Tech leaders of tomorrow, harnessing the potential of their proprietary research conducted during their academic pursuits. Through personalized coaching, strategic industry connections, and facilitated access to innovation grants, awards, and venture capital funding, they pave the way for their success. Teaming up with XTX Ventures, they are supporting 6-12 new companies per cohort, offering typically around £100,000 in funding.
Silicon Roundabout Ventures
Silicon Roundabout Ventures is a London-based Community-Driven VC powerhouse, dedicated to supporting Deep Tech and Big Data startups at pre-seed and seed stages. With a wide network of 15,000 founders and engineers, they operate at the intersection of venture, science, and community. They go beyond just capital involvement - their founders can count on hands-on guidance and expertise from the industry’s finest. Their overarching objective revolves around empowering technical founding teams to tackle global-scale challenges through solutions grounded in computer or physical sciences - including in areas such as computing, climate, health, and defense.
Lunar VC
Lunar VC is a Berlin-based VC fund, committed to aiding European Deep Tech founders in bringing their visionary concepts to life. Their focus rests on pre-revenue investments, with the aim to transform seeming science fiction into a tangible reality. Lunar VC commits between €300K - €1M to technical teams equipped with robust R&D backgrounds. Their emphasis lies in cultivating products within Europe with global market appeal.
Promus Ventures
Promus Ventures, a seasoned global venture capital firm with a presence in both the US and Europe, specializes in partnering with ambitious deep-tech entrepreneurs. Their focus centers on utilizing transformational technologies to digitize established industries. With a hands-on approach, they lead financing rounds, assume board seats, and actively contribute to building world-class startups. Having supported 100 teams, Promus Ventures has overseen a total capital raise of $4.2 billion across its portfolio. Their investment philosophy revolves around people, products, and potential, with a strong emphasis on community and expertise.
Herius Capital
Headquartered in Budapest, Herius Capital is a pioneering European venture capital firm exclusively focused on driving technological advancements in the Space Tech sector. Their strategic investments in cutting-edge space technologies aim to actively shape the trajectory of society's future. With a seasoned team of investors, space experts, and engineers, they specialize in early-stage companies with a focal point in Europe and exclusive access to the CEE and SEE markets. Their hands-on approach goes beyond traditional investing, fostering micro-ecosystems within the dynamic NewSpace industry. Central to their mission is democratizing space technology, fortifying the new space sector, and nurturing the growth potential of emerging space startups.
DeepTechXL
Based in the Netherlands, DeepTechXL is a venture capital firm that focuses on early-stage DeepTech ventures with the potential to drive societal change. Collaborating closely with startups, the fund offers hands-on support, fostering high-impact ventures and sharing their knowledge and experience. They invest in Dutch deep-tech startups and scale-ups with promising global growth prospects, particularly in hardware and manufacturing. Key enabling technologies (KETs), such as Advanced Materials, Digital Technologies, and Quantum, guide their investments to tackle vital societal themes like Energy Transition, Security, Health, and Agriculture. The investment spectrum ranges from pre-seed to Series A-C - they target around 20 seed-stage companies with investments ranging from €100,000 to €2 million. The firm also plans to further invest in approximately 15 follow-up rounds, becoming the lead investor in Series A and B, and engaging in syndication for Series C.
2xN
Based in the UK, 2xN is a Quantum Technology fund, which aims to embody the future of investing. They support visionary founders driving high-tech-led impact across essential sectors like education, work, mobility, marketplaces, and deep tech. 2xN's mission revolves around enhancing networks for both founders and investors. Blending the strengths of a substantial fund with the agility of super angels, they provide founders with access to extensive services and networks. Their diverse alliance of experts fuels this platform, connecting like-minded professionals.
Sunfish Partners
Sunfish Partners is an early-stage VC firm based in Warsaw and in Berlin, focused on Polish Deep Tech startups. With a strong emphasis on deep tech, B2B, and software, they invest in the pre-seed/seed stage with an initial ticket of €250-500k. Their mission centers on propelling Poland's tech landscape as a starting point for a global journey of innovation.
DeepTech & Climate Fonds (DTCF)
The Deep Tech Climate Fund (DTCF) is a newly launched €1bn fund designed to support growth-stage climate tech companies that utilize deep tech solutions to address climate change and other environmental and social challenges. The fund's primary focus is on Europe, with a specific emphasis on Germany. It adopts a long-term investment horizon and offers a maximum investment cap of EUR 30 million per company. The fund’s aim is to serve as a strategic partner for deep-tech and climate-tech companies with longer development cycles and high financial requirements. As a strategic partner, the fund provides not only financial support but also mentorship, access to an extensive network of resources, and expertise. It facilitates these companies' journey to capital market readiness, offering them growth perspectives in Germany and Europe. In addition, DTCF assists companies considering an initial public offering (IPO) and provides financing for "buy & build" strategies. Moreover, the fund creates exit opportunities for existing shareholders. DTCF's investment sectors span a wide range, from traditional deep-tech areas such as Industry 4.0/IoT, robotics, AI, and quantum computing to emerging sectors like digital health, new energy, fintech, and smart cities.
Verve Ventures
With offices in the UK, Germany, France, and Switzerland, Verve Ventures is a deep tech fund focused on 4 thematic areas:
- climate and energy - in this sector they seek pioneering pre-seed, seed, and Series A European startups, developing solutions in resources, clean energy, and curbing emission
- future of computing - in this sector they are investing in startups that are reimagining the future of computing, including those working on quantum computing, data storage and handling, and improving the silicon infrastructure. They offer up to 3M EUR in investment tickets as well as expertise, and access to their network of qualified private investors and venture capital firms.
- industrial tech - here they focus on European startups developing robotics and automation, industrial connectivity and data analytics, and advanced manufacturing and engineering
- health - in this vertical they eye companies in TechBio, Digital Health, and Medtech.
Supernova Invest
Supernova Invest is a deep tech fund with more than 20 years of experience that focuses on investing in cutting-edge technologies. They have a strong emphasis on four key sectors: Industry 4.0, Healthcare, Energy & Environment, and Digital Technologies. In the Industry 4.0 sector, Supernova Invest invests in companies that develop engineering and production tools, as well as those working on embedded systems and logistics solutions. In the Healthcare sector, the fund supports startups in the fields of medtech, biotech, diagnostics, and discovery tools. These companies are at the forefront of advancing healthcare technologies and improving patient outcomes.
Supernova Invest also invests in the Energy & Environment sector, particularly in cleantech, energy transition, agritech, and foodtech. These companies are focused on sustainable solutions and innovations that address climate change and promote environmental conservation. In the Digital Technologies sector, Supernova Invest supports companies involved in computing, semiconductors, cybersecurity, and telecom. These technologies play a crucial role in driving digital transformation and enabling connectivity in various industries.
SOSV
SOSV is a global venture capital firm that operates multi-stage investment funds designed to support founders with breakthrough technologies. With over $1.5 billion in assets under management, the firm's core mission is to fund visionary, deep-tech founders who aim to deliver a radically beneficial impact on human and planetary health. The SOSV fund provides pre-seed startup development programs, including HAX for hard tech, IndieBio for human and planetary health, and Orbit Startups for growth in emerging and frontier markets. These programs offer not only an initial investment of up to $500,000 but also continued funding through series seed, series A, and beyond. SOSV's network of thousands of investors helps founders find lead investors and syndicate partners, ensuring ongoing support and funding for their ventures. In addition to financial support, SOSV provides ongoing resources and opportunities for its program alumni. This includes investor introductions, access to expert teams, a peer-to-peer founder community, and private founder-focused events covering various topics.
The FundingBox Deep Tech Fund
The FundingBox Deep Tech Fund is an early-stage investment fund that focuses on European companies with a strong technological advantage. With a fund size of 27.6 million zł, the fund offers investments of up to 4 million zł to deep tech startups in various sectors such as MedTech, robotics, IoT, blockchain, artificial intelligence, and life sciences. Managed by experienced partners with over 20 years of entrepreneurial and startup ecosystem expertise, the fund not only provides financial support but also assists portfolio companies in team building, sales strategy development, business scaling, market expansion, and further fundraising. The fund is part of the international FundingBox group, which has been running acceleration programs for startups across Europe since 2013.
Innovation Industries
Innovation Industries is a venture capital fund that focuses on investing in emerging technologies with the goal of long-term value creation. Their investment strategy is rooted in deep tech, which involves investing in ventures that develop enabling technologies and ground-breaking ideas in areas such as genetics, robotics, artificial intelligence, and photonics. The fund exclusively invests in companies with unique and defendable intellectual property and technology positions, addressing large markets with the potential for rapid growth. Innovation Industries seeks portfolio companies that have the potential to become global players and require significant funding during their journey to maturity. Their investment themes capitalize on megatrends and align with key social and environmental issues, such as resource efficiency and circularity, energy transition and carbon reduction, sustainable connectivity and infrastructure, health and wellbeing, and sustainable and healthy food. Through their responsible investment strategy, Innovation Industries aims to create both economic and societal value while managing environmental, social, and governance risks and opportunities.
Walden Catalyst
Walden Catalyst is an investment fund focused on deep tech, data, AI, cloud, fintech, and digital biology. Led by industry icons Lip-Bu Tan and Young Sohn, the fund has a legacy of integrity, expertise, and partnership. The fund offers early-stage investments, operational expertise, and global reach to entrepreneurs with rare potential. Their commitment to innovation, disruptive technologies, and scaling up makes them a valuable partner for the future of technology.
Outsized Ventures
Outsized Ventures is a venture capital firm that partners with founders who are pushing the boundaries of science and technology to solve global challenges. They focus on deep tech or frontier tech companies that are creating innovative solutions. The firm prioritizes people over technology, science, and markets, recognizing the importance of the founder's vision and drive. Outsized Ventures offers founders capital on clean and unfussy terms, with a quick and transparent process that can be completed in as little as 48 hours. They invest at the Seed+ stage, between Seed and Series A rounds, and aim to build honest, long-term relationships with founders.
01Ventures
01Ventures is a deep tech investment firm that goes beyond providing capital. They are dedicated to supporting the brilliance of Europe's deep tech scene and making a lasting impact. With a focus on fundamental scientific and engineering advancements, they invest in companies that are solving fundamental challenges and driving real-world impact. In addition to financial support, 01Ventures offers operational experience and assistance to help companies clear the path for growth. They believe in the potential for impact before it is reflected in the numbers, and they work closely with Europe's brightest minds to make their vision a reality.
Science Creates
Science Creates is a Bristol-based deep tech ecosystem, supported and backed by successful entrepreneurs that help scientists and engineers accelerate their ideas and build disruptive businesses from scientific discoveries. They offer a variety of services for up-and-coming startups, which include incubation, investments, and a vibrant network. In their VC arm, they invest at the early stages, seed and pre-seed rounds, and can support startups up until Series A. They focus on advanced technologies from biotech to quantum tech, partnering with companies aligned with the mission of improving the health of people and the planet.
Deeptech Equity NL
The Deeptech Equity NL Fund is an investment fund focused on financing the growth and scale-up of Dutch Deep Tech Climate companies. It aims to invest in companies with proven technology, significant commercial traction, and IPO potential in 3-15 years. They provide growth and buyout capital, with an aim to invest EUR 30+ million equity tickets per company. Their focus lies on key enabling technologies such as advanced materials, engineering & fabrication, AI, chemical technologies, nanotechnology, photonics, and quantum.
Cottonwood Technology Fund
Cottonwood Technology Fund is a deep tech venture capital fund with offices across the US and Europe and a geographical focus on Southwest USA and Northern Europe (The Netherlands, Belgium, Germany, Finland, Sweden, Denmark, Switzerland). Cottonwood invests in key enabling technologies such as photonics, optics, micro- & nanoelectronics, advanced materials, nanotechnology, health sciences, climatetech, sensor technology, robotics, and advanced manufacturing. They have a strong emphasis on IP-driven companies in deep tech, with an average investment size of 1-3 million in the early stage and 5-25 million in growth stage rounds. They provide resources and support in business development, leveraging their strong network with national and institutional labs, technology universities, medical centers, and research institutes.
Space Ventures Investors
Space Ventures Investors is a company that aims to bridge the gap between private capital and emerging space companies. They have a deep network of private investors who trust the management team's allocation of capital into strategically important space companies. SVI focuses on various verticals of the space economy, including due diligence of business models, technology, and markets. They operate globally from Frankfurt, London, and Paris.
SVI's strategy involves developing, supporting, and funding space-focused businesses. They invest in, incubate, and co-found innovative space companies, using their extensive network to bring individuals and companies together to execute highly technical business plans. They also leverage European and US space networks to find the best-positioned start-ups within their respective markets. In addition to their investment activities, SVI is also involved in space commodities and resources. They are part of the on-orbit servicing industry and have joint ventures in the lunar resources industry. They are also engaged in a joint venture in Europe to design, manufacture, launch, and operate Light Lunar Landers (LLL) for lunar missions.
Vigo Ventures
VIGO Ventures is an investment group that supports cutting-edge research and development teams and companies in the field of photonics and hardware. With strategic partnerships with VIGO Photonics and Warsaw Equity Group, VIGO Ventures is backed by leaders in the field. They mostly seek companies that have a problem-to-solution-driven approach and a strong understanding of product-market fit in the photonics market. They aim to shed light on the future by investing in photonics. They are involved in various areas, including laser systems, scanning, sensing imaging, infrared solutions, semiconductors, materials science, and quantum technologies. As investors, VIGO Ventures takes a hands-on approach and works closely with their portfolio companies to help them overcome business development challenges.
HCVC
Hardware Club VC is a Paris-based investment company focused on startups developing deep tech and hardware solutions, at the early stages of development. They support companies from pre-seed until Series A, contributing not only capital but also resources, industry knowledge, and a robust network of experts and entrepreneurs. Their portfolio companies aim to leverage technology to digitize, automate, and decarbonize the world.
Ahren
Ahren is an investment institution based in the US and the UK, focused on supporting transformative companies at the intersection of deep tech and deep science. They believe in taking calculated risks to deliver superior rewards and capture generational opportunities in the deep technology space. Ahren partners with exceptional founders and teams at various stages of growth, providing both capital and expertise. They have four broad domains of interest, including Brain & AI, Genetics & Platform Technologies, Space & Robotics, and Efficient Energy. With a strong emphasis on relationships and trust, Ahren empowers its portfolio companies to achieve the unimaginable.
Freigeist
Freigeist is a deep tech seed investor, that specializes in empowering European tech founders as they build and expand their tech startups. They firmly believe that emerging technologies such as AI, Robotics, 5G, and Quantum Computing possess the potential to fundamentally transform our world, improving the quality and sustainability of life. They have a strong focus on disruptive technologies such as Artificial Intelligence, 3D Printing, Synthetic Biology, Robotics, Edge Computing, 5G & IoT, Quantum Computing, and Blockchain. With over two decades of experience, Freigeist offers comprehensive expertise spanning various domains, including product development, branding, fundraising, technology, PR, communications, strategy, business development, and human resources.
Aper Ventures
Based in Poland, Warsaw, Aper Ventures supports deep tech and hardware startups demonstrating proven competitive advantages and significant global potential. Originally, the team was founded in 2014 as a 100 million PLN Meta Ventures, investing in more than 20 entities. As of 2019, it makes investments primarily under Aper Ventures with the support of a network from Aper Angels. The fund invests in a co-investment model together with CVCs, individual investors, and family offices. The value of its assets under management is around 130 million PLN.
VCs investing in Deep Tech amongst other sectors:
Atomico
Atomico, a prominent player in tech investment, is dedicated to fueling the growth of ambitious tech founders beyond Series A, with a strong European focus. With $4.7 billion in assets under management, Atomico leverages its operational expertise to catalyze exponential growth for its portfolio companies. Driven by a mission to cultivate a prosperous, sustainable, and inclusive technology ecosystem, they are focusing on future-forward verticals such as fintech, digital work, enterprise data automation, mobility, industrial infrastructure, and more. They earned a spot on this list through their thematic focus on ‘Frontier Tech’, where cutting-edge science meets real-world implementation in areas like synthetic biology, quantum computing, robotics, new energy, space tech, and genomics.
UVC Partners
UVC Partners is a trailblazing VC fund headquartered in Munich and Berlin. They are focused on early-stage B2B companies within Enterprise Software, Mobility, and Industrial Technologies. Their partnership extends across Europe, supporting startups from inception to Series A. Initial investments range from €500,000 to €10 million, underscoring the firm’s commitment to the long-term journey. UVC Partners boasts a seasoned tech team, comprising diverse experts ranging from rocket scientists and AI researchers to mechanical engineers and economists. Startups within the UVC Partners portfolio gain a competitive edge through access to a robust talent pool, extensive corporate network, and hands-on operational support.
Oxford Science Enterprises
Oxford Science Enterprises was established in 2015 and now operates as an independent investment firm, uniquely partnered with the University of Oxford. This collaboration grants them unprecedented access to cutting-edge research and the brightest academic minds, allowing them to shape and nurture transformative businesses. Their primary focus lies within three high-growth, high-impact sectors: Life Sciences, Health Tech, and Deep Tech. Having invested £0.5 billion in over 80 ambitious companies, they have facilitated the progress of numerous startups, propelling them from seed to Series A and beyond. OSE employs a flexible, long-term investment strategy, recognizing that the journey from groundbreaking research to global markets requires dedication and persistence.
Voima Ventures
Based in the Nordics, Voima Ventures is at the forefront of advancing deep technology ventures across Europe. Pairing science-driven innovation with the acumen of Nordic serial entrepreneurs and a global outlook, their approach is simple yet impactful. Their investment spectrum encompasses pre-seed stages, and technology spin-offs, and extends to leading series A and B funding rounds. Dedicated to scaling solutions that benefit humanity, the environment, and various industries, their diverse portfolio spans key verticals including Advanced Manufacturing, Imaging & Optics, IoT & Electronics, Life Sciences, New Materials, Quantum & AI, as well as Sensing & Diagnostics.
Hoxton Ventures
London-based Hoxton Ventures is a sector-agnostic fund dedicated to a wide variety of tech solutions. They deserve a spot on this list because of the robust representation of deep tech enterprises within their portfolio. Their company ethos is simple - identifying the best European founders in their early stages and nurturing their evolution into industry-defining giants. With a keen eye on transatlantic growth, Hoxton Ventures is dedicated to helping European entrepreneurs in expanding their ventures to the US market. Typically they lead seed rounds (or co-lead at pre-seed) leaving strategic reserves for follow-on investments. Hoxton Ventures typically commits capital between $1 to 3 million, aiming for an ownership stake ranging from 10% to 15%.
Lakestar
Lakestar is a VC fund strategically positioned in Europe’s landscape with offices in Zurich, London, and Berlin but with a global perspective to doing business. They invest across different themes which include fintech, healthcare digitalization, vertical software, games & media, climate tech, and deep tech. They operate out of 5 specialized funds, dedicated to seed, early and growth investments. Lakestar envisions a future shaped by technology, driving progress through founder-led initiatives, supported by their seasoned expertise. Their engagement extends beyond financial support, building enduring partnerships throughout the entrepreneurial journey.
Cambridge Innovation Capital
Cambridge Innovation Capital (CIC) is a leading supporter of life sciences and technology companies affiliated with Cambridge, Europe's innovation hub. As a preferred investor for the University of Cambridge, CIC holds unmatched access to investment opportunities and the prestigious academic and entrepreneurial ecosystem. With over £500 million under management, CIC has backed 30+ companies, focusing on disruptive deep-tech sectors like AI, IoT, quantum tech, and more. Their mission is clear: to drive successful commercialization of life sciences and deep tech innovations. They work with companies through each stage of growth, using their technical knowledge and commercial experience.
High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a German seed investor for tech start-ups with growth potential. Having backed 700+ start-ups since 2005, HTGF now manages around 1.4 billion euros through its fourth fund. With a team of seasoned experts, HTGF provides knowledge and support to nurture young companies in various high-tech sectors - including digital tech, industrial tech, life sciences, and chemistry. The fund’s investment isn't just financial – they offer invaluable guidance, assist in scaling businesses by connecting them with customers, enhancing sales efforts, and providing industry-specific insights. Moreover, they share expertise in leadership, management, and operational excellence to drive long-term success for their portfolio companies.
Octopus Ventures
Octopus Ventures is a pan-European investor with a strong presence in the UK and US and a global approach to investing. Their thematic areas encompass B2B Software, Bio, Climate, Consumer, Deep Tech, Fintech, Health, and People + Talent. In the deep tech field, they are particularly focusing on startups developing tools and technologies that will power the next industrial revolution such as quantum computing, robotics, drones and sensory human augmentation. Octopus Ventures engages across pre-seed, seed, Series A, and beyond stages. Their pre-seed investments can begin even before product development, with an average investment of £100k. They also provide seed funding, Series A, and beyond, typically starting at £1 million.
Earlybird
Earlybird is one of the leading venture capital investors fueling European tech innovation. Based in Berlin and covering all development stages, they offer not only financial backing but strategic guidance, global networks, and market access. With four autonomous teams, their reach spans geographies and sectors, including early-stage digital technology in the West, ICT investments in the East, health solutions, and deep tech innovation. They have a specific fund dedicated to deep tech solutions - Earlybird-X - which seeks out companies developing ventures in sectors such as robotics, AI, and mobility.
Aenu
Aenu is a venture capital fund that focuses on the climate tech part of the deep tech sector, providing value-additive capital to entrepreneurs who address the climate crisis and contribute to advancing social equality. With a mission to drive systemic transformation towards impact, accessibility, and stakeholder alignment, Aenu strives to make all its investment decisions aligned with Article 9 SFDR. The fund primarily focuses on early-stage climate tech companies based in Europe, with a special interest in deep-tech moonshots and other enabling technologies such as Saas, mobility, or fintech. Their investments are driven by intentional, measurable metrics such as net positive climate or social impact, with CO2 saved or avoided as core criteria. Aenu actively supports the value-creation of its portfolio companies through its expertise in entrepreneurial activities, impact knowledge, B2B market access, and capital formation.
Faber
Faber is an early-stage tech VC firm based in Lisbon, specializing in investment areas such as Climate and Ocean Tech. Their investment thesis revolves around the belief that deep tech serves as a crucial accelerator of innovation, with the potential to make a significant positive impact on ocean sustainability, climate action, and the decarbonization of the global economy. They actively seek out the next generation of mission-driven entrepreneurs, often referred to as "blue pioneers," who are developing innovative solutions in climate/ocean technology. These solutions encompass a wide range of sectors, including blue biotech, food and feed sourced from the ocean, ocean health, earth intelligence, and the decarbonization of various industries. By supporting these visionary entrepreneurs, Faber aims to drive meaningful change and foster global ambition in the realm of climate and ocean tech.
Speedinvest
Speedinvest is a pan-European venture capital firm with many sector-focused teams - one of them is deep tech. Their objective is to support visionary European startups with global aspirations in fields such as AI, quantum technologies, materials, and biotechnology. They offer extensive industry-specific network support to startups, connecting them with founders at every stage of the journey to exchange experiences, ideas, and best practices. With an initial ticket size ranging from €200K to 2M, SpeedInvest invests in pre-seed and seed stage startups, helping them establish their presence in the market and become competitive players.
Amadeus Capital Partners
Amadeus Capital Partners is a UK-based fund with more than 20 years of experience building up innovative ventures in the world. They are focused on seed and early stage, high-growth companies with an exceptional IP, based in or growing in the UK. They are providing them with start-up and scale-up capital, and they also offer growth investments in tech-enabled consumer and business services in emerging markets. Their focus lies in the following sectors: AI and ML, consumer services, cyber security, digital health, digital media, enterprise software, fintech, insurtech, semiconductors and telecoms infrastructure.
b2Ventures
Founded in 2000, b2venture is one of the most experienced venture investors in Europe. The firm has a presence in multiple locations, including St. Gallen, Munich, Luxembourg, Zurich, and Berlin. Through its dedicated funds and direct investment track, b2venture invests in startups in the DACH region and across Europe, creating a virtuous cycle of success that supports the next generation of founders. With a focus on investing in innovative startups at the earliest stages and beyond, they are supported by a strong and diverse community of angel investors, bringing unique expertise, entrepreneurial experience, and hands-on service to its portfolio companies. Across their portfolio there are companies from sectors such as AI and ML, automation, advanced materials, biotech, web3 and more.
Index Ventures
Founded in 1996, Index Ventures is a venture capital firm with a long history, based in London, England. The firm seeks to invest in cutting-edge companies operating in sectors such as artificial intelligence, machine learning, business application, data, entertainment, fintech, the future of work, healthcare, media, mobility, open source, retail, security, and talent sectors. They work with entrepreneurs and their companies at every stage, across every sector. Their global network and long-term orientation make them a trusted partner for startups.
Curiosity Ventures
Curiosity Ventures is a venture capital firm based in The Netherlands that supports European founders in building responsible AI software companies. They focus on early-stage investments in software companies that have shipped their first product and are seeing positive feedback and traction from customers. Their investment criteria include companies that apply innovative data processing, machine learning, and AI technologies in areas such as sustainable living, trusted society, future of work, and future of commerce. They primarily invest in companies in the Benelux, Nordics, and Baltics regions that have international ambition and are aligned with European values. Curiosity Ventures takes a hands-on approach, providing support to founders in areas such as network and fundraising, and they have a portfolio of software companies that serve the world.
360 Capital
360 Capital is an early-stage European venture capital firm that specializes in investing from Pre-Seed to Series B. They provide entrepreneurs with their expertise, network, and support to help them scale their businesses to their full potential. The firm is known for taking audacious bets on breakthrough B2B and B2C solutions, consistently catching innovation trends ahead of others in the market. Their investment focus includes deep tech, such as AI, ML, and robotics, as well as business process automation and mass consumer disruption through digital technology. They are hands-on investors, offering initial investments ranging from 150k€ to 2M€ in Pre-Seed and Seed stages, and between 2M€ and 10M€ in Series A/B. With a commitment to ESG, 360 Capital believes in investing in companies that align with their vision of the world they want to live in.
OpenOcean Ventures
OpenOcean Ventures is a European venture capital fund with a unique focus on investment themes that are shaping the future of technology and the data economy. With over two decades of experience, OpenOcean is positioned as a thematic investor, seeking out disruptive and innovative startups in areas such as automation, AI and data infrastructure, and the future of software development. The fund is committed to ESG principles and believes that startups embracing sustainability practices will shape a more sustainable future. OpenOcean invests in companies that harness the power of data to optimize processes, personalize offerings, and deliver exceptional customer experiences. The fund's investment criteria include founders who possess deep technical and commercial expertise, a viable and user-friendly product with strong user engagement, and a large unmet demand in the market.
Butterfly Ventures
Butterfly Ventures is a seed stage focused venture capital firm in the Nordics. Founded in 2012, they have become one of the most active early stage VCs in the region. With offices in Oulu, Helsinki, and Stockholm, Butterfly Ventures takes a cooperative approach, working closely with founders and providing full support from all partners. They invest in seed stage startups, particularly from Finland and other Nordic countries, and focus on deep tech, hardware, and hardware interfacing software. With a track record of success and a commitment to business-driven investments, Butterfly Ventures is a valuable partner for startups in the region.
Armilar Venture Partners
Armilar Venture Partners is a European early-stage venture capital fund manager with a strong track record of backing founders of digital startups through the entire journey from inception to exit. They believe in the power of disruptive technologies to improve society and follow a "tech at the core" investment theme. Armilar looks for exciting opportunities based on leading-edge technology across various sectors, while also being selective in their investments. They prioritize entrepreneurs who are knowledgeable about their business and technology, and demonstrate resilience and honesty in overcoming challenges. Armilar believes in investing in companies that have a unique technology or technology-based business model that offers a disruptive improvement or solution to a valuable problem. Additionally, they focus on companies with a global mindset and a product that has a sizable global addressable market.
Black Pearls VC
Black Pearls VC is a venture capital fund that focuses on deep tech startups in Northern and Central Europe, with a particular emphasis on countries like Poland and the Baltic States. As a sector-agnostic and B2B-focused fund, they have a successful track record of investing in areas such as Digital Health, Enterprise Software, Fintech, and Future of Work. With an initial investment ticket ranging between €100k - €1m, they invest at the seed or post-seed level and make follow-on investments in later rounds.
Adara Ventures
Adara Ventures is a deep tech fund that specializes in investing in early-stage startups that are solving complex problems with breakthrough solutions. With a focus on European teams and global market opportunities, Adara Ventures aims to support innovative startups that have found their purpose, proven their product, and are ready to go to market. The fund believes in building deep, long-term partnerships based on trustworthy and professional relationships. With a world-class team, strong connections, and a European focus with a global vision, Adara Ventures is committed to applying their domain expertise to build lasting value for their portfolio companies.
Industrya
Industrya is a fund that focuses on supporting bold and innovative start-ups targeting B2B and B2B2C markets. They invest in all stages of a company's development, from seed to growth capital, and provide tailored incubation and acceleration programs for companies in the following sectors: Industry 4.0, energy transition, and new materials sectors. They are committed to investing in start-ups that have the potential to shape the industry and make a positive impact on the world. Industrya is geographically based in Belgium, France, Luxembourg, Germany, and the Netherlands, strategically positioned at the heart of the European industrial axis. They prioritize the Belgian anchoring of their investments to contribute to the redevelopment of Belgian industry.
Balderton Capital
Balderton Capital is a venture capital firm based in the UK that specializes in early-stage and growth-stage investments in technology companies. With a history spanning over 22 years, Balderton has raised $4.5 billion to invest in European technology startups, providing them with access to the combined insight, knowledge, and experience of their well-experienced team. They operate out of two funds - for early-stage startups and for growth startups, across sectors, ranging from reproductive health to deep tech. Balderton has a strong belief in the potential of European technology and aims to support the next European giant in the technology industry. They seek out pioneers with outsized ambitions, individuals who think big and are determined to build formidable enterprises on a global scale.
MIG Capital
MIG Capital is a venture capital firm that focuses on investing in companies in the deep tech and life sciences sectors. They invest in companies that are pioneers in fields such as artificial intelligence and machine learning, quantum tech, digitalization/IoT, bio-pharmaceutical therapeutics, medical technology, and digital health. Their investment strategy is based on the belief that these sectors have the potential to drive significant advancements and create value. The fund itself is based in Munich, Germany, but they have a global outlook and assist their portfolio companies in international expansions.
Fly Ventures
Fly Ventures is a first-check VC for technical founders solving hard problems, across a wide array of tech sectors. They invest from the idea inception until the seed rounds, backing founders from all over Europe. They are located in Berlin, Paris, London, and Zurich, investing in all sorts of innovative technology companies such as Lakera or Wayve.
Progress Tech Transfer
Progress Tech Transfer is an Italian fund that specializes in supporting sustainable technologies from research institutions, start-ups, spin-offs, and visionary entrepreneurs. They work closely with industry leaders to identify deep tech opportunities and intellectual property leads and provide capital for early-stage startups developing these solutions. They prioritize long-term impact over quick returns. In addition to financial resources, Progress Tech Transfer offers a unique combination of expertise, industrial connections, and capacity-building support to help teams succeed. They focus on technologies for sustainability, including energy, water, air, waste, new materials, and new crops, aiming to transfer progress from technology to markets.
Invest-NL
Invest-NL is a financing organization that offers capital to entrepreneurs in the Netherlands. They focus on financing businesses and investment funds that contribute to a carbon-neutral, circular economy, in the six thematic areas: bio-based economy, carbon neutrality, agrifood, deep tech, life sciences and health. Their financing can be provided as a participating interest or as a loan, with Invest-NL typically providing up to 50% of the venture capital. They require at least one professional co-investor to participate and the total financing request must exceed €10 million. Additionally, they support both starting teams and experienced teams in their fund investments.
Kima Ventures
Kima Ventures, headquartered in France, is amongst one of the most active early-stage investors, investing in 2 to 3 startups per week all over the world; providing founders with not only funding but also network, and focused support to help them expand in the fastest and most effective ways. They invest from seed to Series A, in highly promising and innovative startups across different sectors and verticals - which also include deep tech.
EIT Innoenergy
EIT InnoEnergy is a well-known Pan-European investor with an exceptionally broad scope of activities. They are a EU initiative created with the goal of decarbonizing Europe by 2050 and empowering entrepreneurs dedicated to a sustainable future. They mostly seek out entrepreneurs within the cleantech sector but in order to find the most sustainable and regenerative solutions they often venture into the deep tech territory, supporting cutting-edge solutions and startups. InnoEnergy offers comprehensive support to these companies, encompassing various areas, including product and market support, R&D, business plan as well as financial aspects.
Local Globe
Local Globe is an active UK-based investor that usually supports startups at the early stages, preferably before series A. They aim their efforts at impact startups that generate positive results for the world, especially those developing solutions in the deeptech field.
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