Amsterdam-based OTB Ventures, a European VC focused on DeepTech, announced on Thursday that it has closed its second fund at $185M (approximately €170M).
The investment comes from the European Investment Fund (EIF) under the InvestEU Fund and the NATO Innovation Fund (NIF), Isomer Capital, FNP Foundation for Polish Science, TDJ Venture, Snowflake co-Founder Marcin Zukowski, OnDean, the family office of the Founders of Relativity.
The NATO Innovation Fund (NIF) is an independent venture capital firm backed by 23 NATO Allies. The announcement comes over eight months after NATO closed its €1B flagship fund to invest in startups tackling critical security challenges.
Fund utilisation
The fund will mainly be utilised at the Series A stage, with approximately 10 per cent potentially earmarked for seed funding and over 50 per cent set aside for follow-on investments.
OTB’s investment strategy in deep tech is focused on four verticals — space technology, enterprise automation, and AI, cybersecurity, and fintech infrastructure.
Since its first close in November 2022, OTB has already made nine investments, including two German startups KYP.ai (a productivity platform) and Semron (a developer of innovative chips).
OTB Ventures: Focused on DeepTech
OTB Ventures is a venture capital firm that focuses on investing in B2B early-stage technology startups in Europe.
They specialise in four verticals, namely SpaceTech, AI & Automation, FinTech, and Cybersecurity.
The firm claims to have an advantage in accessing deal flow in Central and Eastern Europe, making it a leading player in the region.
OTB Ventures was founded in 2017 and is currently the largest VC in the CEE, managing over $300M. The OTB team operates from two offices in Amsterdam, Netherlands, and Warsaw, Poland.
The investment firm focuses on companies that have already launched their product and have a proven track record of increasing revenue.
The firm invests between $1 million and $15 million in their portfolio companies, to obtain a “meaningful minority stake.”
The company’s investment is normally spread across multiple rounds, and the level of commitment is determined by the company’s performance over time.
OTB’s portfolio companies include SpaceKnow, Cosmose, akirolabs, Silent Eight, and Hydrosat, among others.
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