Eindhoven-based PhotonVentures, a deep tech venture capital firm, announced on Tuesday that it has closed its second fundraising round of over €15M, bringing the fund’s total to the targeted €75M.
Private and strategic investors, together with the support of BOM (Brabant Development Agency), Oost NL, TNO, and the University of Twente, have participated in the round.
The announcement comes around seven months after raising €60M with PhotonDelta as the lead investor alongside numerous private investors.
Fund utilisation
The fund targets essential applications in data transmission, health diagnostics, and smart sensor systems while also aligning with major global trends such as AI, AR, and VR.
The VC firm plans to raise over €100M to close its initial fund by the end of 2024.
The fund will focus on Seed to Series A investments, with participation ranging from €1M to €2.5M.
With strategic support from the Dutch National Growth Fund and the European Chips Act, PhotonVentures is creating the conditions for the growth of 20 deep-tech frontrunners, positioning them as international leaders within the European ecosystem.
“We are proud that BOM, Oost NL, TNO, and University Twente came on board. It proves their belief that PhotonVentures is creating value for investors and sustainable economic impact for the Netherlands and the rest of Europe. We also thank our new private and strategic investors for their trust and commitment to make this happen,” says Ewit Roos, General Partner at PhotonVentures.
PhotonVentures: Spin-off and strategic partner of PhotonDelta
PhotonVentures is an independent deep-tech venture capital firm that emerged from PhotonDelta, a growth accelerator for the photonic chip industry.
The VC invests in companies pushing the boundaries of light-based technologies in industries ranging from telecommunications to healthcare.
The investor
BOM (Brabant Development Agency) supports startups in various fields, helping them grow into successful scaleups. They also assist companies looking to expand globally.
Every year, BOM works with dozens of companies to create this impact.
BOM is an executive body of the Province of Brabant and the Ministry of Economic Affairs and Climate Policy.
“The further development of photonics is crucial for the future of the Dutch semiconductor ecosystem. It’s no coincidence that photonics is one of the key technologies for BOM. To scale innovative companies in this sector, funds like PhotonVentures are indispensable. We anticipate
collaborating intensively with all partners,” says Marc Jansen, managing director of Investments BOM.
Oost NL is the regional development agency of the Eastern Netherlands. The firm invests in entrepreneurs in the east of the Netherlands.
The agency strengthens the regional economy on behalf of the Ministry of Economic Affairs and Climate Policy and the provinces of Overijssel and Gelderland. Oost NL is active in top sectors like Food, Energy, Health, and Tech.
“Photonics is an important enabling technology. Many Dutch photonics companies are located around the universities in Eindhoven and Enschede. But also, the Noviotech Campus in Nijmegen is an important driver for innovations in photonics. PhotonVentures has previously invested in companies from our region such as Surfix and PHIX. We are pleased to have joined with other parties because we see the importance of the growth of photonics in our region, The Netherlands, and Europe,” says Freek Welling, director of Capital at Oost NL.
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