Dutch-based DeepTechXL secures €110M to “support the most promising deeptech startups”

Eindhoven-based DeepTechXL, a venture capital fund, announced that it has closed its DeepTechXL Fund I. The fund was announced in 2022 and aimed for a minimum fund size of €100M.

According to fd.nl, the fund has raised €110M through contributions from ASML and pension fund PME. 

In addition, the fund also saw support from Brabant Development Company (BOM), TNO, Invest-NL, Philips, Oost-NL, Technical University of Twente, Netherlands Enterprise Agency, and undisclosed Dutch families. Individual contributions from these parties remain undisclosed.

This marks the first funding round for the VC, which is situated at the High Tech Campus Eindhoven.

Peter Wennink, CEO of ASML, says, “DeeptechXL is much more than an investment fund for ASML. It is a wonderful example of collaboration between various actors in the Dutch deep tech ecosystem, who have united behind a long-term vision.”

Wennink adds, “We are now joining forces with DeeptechXL. By intensively mobilising capital, national and international talent, unique knowledge, skills and networks, we can accelerate promising startups into world-class players.”

How will the funds be utilised?

Teska van Vuren, managing partner of DeepTechXL, describes the final closing of the first fund as “impressive”. “As a result, we can now identify and support the most promising deep tech startups.”

Van Vuren adds, “The companies we select, operate at the forefront of technology and are working on solutions for major social themes in the areas of healthcare, energy transition, cybersecurity, agriculture and water technology. And that is good for economic growth and employment in the Netherlands.”

Since its inception in 2022, DeepTechXL has invested in eight startups, including SuperLight Photonics, focusing on advanced technologies like photonics, mechanical engineering, semiconductors, and quantum computing.

In a LinkedIn post, the fund says, “At DeeptechXL our mission is clear: harness the power of cutting-edge technology to address pressing global issues and drive positive change.”

“From healthcare advancements to environmental sustainability initiatives, we are committed to investing in groundbreaking startups that have the potential to revolutionise industries and improve lives.”

Accelerating deeptech innovations

Founded in 2013 by Guus Frericks, HighTechXL aimed to build the best deep-tech venture-builder and ecosystem in Northwestern Europe. 

With Founding Partners like ASML, Philips, BOM, TNO, and High Tech Campus Eindhoven, along with a broad network of research institutes and industry experts, HighTechXL claims to have been successful in accelerating deep-tech ventures.

In 2022, Guus Frericks and the Founding Partners launched DeepTechXL as a pivotal move to bolster the Dutch deep-tech ecosystem. 

Leveraging skills and networks of tech corporations, knowledge institutes, and regional and national impact investors, DeepTechXL offers companies access to resources, technologies, licenses, supply chain partners, and co-investors.

“We help share knowledge and enable growth, encouraging entrepreneurs to share their knowledge and experience with other entrepreneurs making an impact with advanced technologies,” says the firm.