Amsterdam-based Rockstart, a global early-stage investor, announced on Tuesday that it has launched its third fund, Rockstart Emerging Tech, targeting a close at €30M.
The Dutch firm says it will use the funds to help up to 50 early-stage emerging technology startups and ideas that tackle urgent societal problems through tech-enabled solutions over the next ten years.
The “Rockstart Emerging Tech” funds will focus on Industry 4.0 & Advanced Analytics, Smart Societies, Digital Health, Data Privacy/Security, and more general applications proposing solutions for positive change.
Rune Theill, CEO and co-founder of Rockstart, says, “The Rockstart Emerging Tech fund will invest in technology startups with a purpose-driven agenda to maximise impact in the future. Rockstart has the experience and track record of supporting tech founders to scale locally, regionally, and globally and providing access to market and capital partners at all stages. With Rockstart Emerging Tech, we are expanding on the strategy we set out in 2012.”
The fund is backed by Vækstfonden (Danish Sovereign Wealth Fund), the family office De Hoge Dennen, several tech entrepreneurs, Rockstart alumni founders, and other informal investors.
In fact, Rockstart has already selected the first batch of startups for its third fund and will begin its accelerator programme at the end of August. The programmes are domain-focused and tailor-made, designed to rapidly take early-stage startups from MVP to scaling.
The programmes will run twice per year, in spring and fall. After the programme, Rockstart will continue co-investing in its portfolio companies and can participate in Series B rounds.
Michael Bjørnlund, Managing Partner Emerging Tech, Rockstart, says, “There is a great need for talented and passionate startup teams to solve today’s important challenges. With the new Rockstart Emerging Tech fund, we expand the areas in which Rockstart can support such founders and teams in their endeavours to craft and scale businesses. In addition, we aim to establish close ties with the entrepreneurs we invest in – from our pre-seed investment and the acceleration programme and onwards to co-investments up to potential Series B rounds. We are very proud of the investors backing us to launch this fund and the continued trust organisations such as Vækstfonden and De Hoge Dennen placed in Rockstart, enabling us to deliver on our mission.”
If you have a compelling idea, apply to Rockstart Emerging Tech here.
Rockstart: What you need to know
The Dutch VC firm invests in early-stage ventures. It provides access to capital, market, and expertise by connecting founders with co-investors, mentors, partners, corporates, and the wider Rockstart network.
The company has invested in more than 280 ventures and its alum value is more than $1B. In addition, the company has invested in more than 60 agrifood and energy startups across Europe, Asia, and the US from its first two funds in 2019 and 2020, respectively.
Rockstart has notable exits such as Wercker, Bouw7, iClinic, and in 2021, 3D Hubs and Brincr. The company has offices in Amsterdam, Copenhagen, and Bogota.
Vaeksfonden is the Danish state’s investment fund. In collaboration with banks and domestic and international investors, Vaekstfonden identifies and develops the companies Denmark cannot afford to miss out on.
“Denmark is known as one of the most digitalised countries in the world. This position was, among others, created by skilled entrepreneurs bringing new solutions to the market. Our investment in Rockstart Emerging Tech is a contribution to this exact agenda. Vækstfonden, the sovereign investment fund of Denmark, is looking at a clear opportunity to scale and develop more early-stage startups that help solve societal challenges through new digital solutions. Rockstart has showcased their worth in Denmark through the Rockstart AgriFood fund already, and we are happy to be part of yet another partnership,” says Lars Nordal Jensen, Early Stage Director, Vækstfonden.