Amsterdam’s FORWARD.one launches €200M Fund III to fuel Europe’s industrial tech startups

Amsterdam-based FORWARD.one, a venture capital firm specialising in industrial technology, has announced the launch of its third fund, Fund III.

The fund is targeting commitments of €200M, with a hard cap of €250M.

The majority of the fund’s target has already been secured from a strong base of returning and new investors.

Fund III: Investing in early-stage technology

Fund III will invest in early-stage technology companies driving breakthroughs in semiconductors, climate tech, robotics, hardware, and other key areas of industrial innovation.

The fund will provide initial tickets of €1–3M, with substantial reserves for follow-on investments.

Its portfolio is expected to include 25–30 companies across the Benelux, DACH region, Nordics, and other leading European hubs.

Riemer Smink, Managing Partner at FORWARD.one, says, “Fund III gives us more clout to support Europe’s most technological pioneers. The fact that we have already secured most of our target amount demonstrates the strong belief in our strategy and in the opportunities offered by industrial technology.”

Fund III is launching amid challenging fundraising conditions, including high interest rates and stricter investor requirements.

However, there is a growing need for advancements in technological independence, climate-friendly innovation, and industrial capabilities, making this a crucial time for investors.

One of Europe’s top-performing VC firms

Since its founding, FORWARD.one has established itself as one of Europe’s top-performing venture capital firms.

Its first fund, launched in 2018, delivered a net IRR of 41 per cent and a DPI of 2x, placing it among Europe’s leading VC funds according to PitchBook.

With successful exits including Sensorfact (acquired by ABB) and Mayht (acquired by Sonos), Fund I set a strong foundation for the firm’s results-oriented profile.

According to the VC, Fund II, a €145M vehicle launched in 2021, is on track for similar performance, backing a growing portfolio in semiconductors, robotics, climate innovation, and industrial technology.

Beau-Anne Chilla, Partner at FORWARD.one, adds, “Our strategy has been proven: invest early, scale up quickly, and achieve exits through our network and hands-on support.“ ”With Fund III, we want to support entrepreneurs in commercialising their technological innovations into applications that change society, while continuing to achieve top results for our investors.”

FORWARD.one: Backing game-changing high-tech innovations

Founded in 2018, FORWARD.one is a venture capital firm designed to address the ‘unique’ needs of high-tech companies. It was founded by a team of experienced investors and entrepreneurs who support the growth of the tech ecosystem in Europe.

Since its foundation, the firm has reviewed more than a thousand companies, and its team claims to have learned about the opportunities offered by high tech in the Netherlands.

Arjan Göbel, Partner at FORWARD.one, says: “Europe has a unique lead in tangible, complex technologies such as chips, robotics and sensors, with a rich history of successful industrial leaders such as ABB (Switzerland/Sweden), ASML (Netherlands), Infineon Technologies (Germany), STMicroelectronics (France/Italy), and many others. These companies have built ecosystems that are virtually impossible to replicate globally and that provide fertile ground for a new generation of industrial tech startups.”