Based in Breukelen, Netherlands, PhotonVentures, a deep tech venture capital fund focused on startups and scale-ups developing solutions with photonic chips, proudly announced that it has completed its second fundraising round, raising over €15 million. This brings the fund’s total to the targeted €75 million.
The enthusiasm in the market for participating in this round underscores the confidence in PhotonVentures’ mission to support growth and capitalize on the rapidly developing integrated photonics semiconductor industry. 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 recent close gives PhotonVentures a significant boost and strengthens its position within the Dutch and European ambitions in this strategically important emerging market. Private and strategic investors, along with the support of BOM (Brabant Development Agency), Oost NL, TNO, and the University of Twente, have made this funding round possible; it serves as a fitting follow-up to the first €60 million round, which was led by PhotonDelta and private investors.
Moving forward, their objective is to raise over €100 million for the closure of their initial fund by the end of 2024. This fund focuses on Seed to Series A investments, with participation ranging from €1 million to €2.5 million. With strategic support from the Dutch National Growth Fund and the European Chips Act, PhotonVentures creates conditions for the growth of 20 deep-tech frontrunners to position themselves as international leaders within the European ecosystem.
Emerging from PhotonDelta, PhotonVentures continues to lead at the forefront of the European photonics ecosystem. The commitment to integrated photonic technology and sustainable AI-driven trends uniquely positions the fund to promote significant economic growth and social progress.
Ewit Roos, General Partner at PhotonVentures said: “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.”
Marc Jansen, managing director investments BOM stated: “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.”
Freek Welling, director Capital at Oost NL mentioned: “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.”
Read the orginal article: https://www.eu-startups.com/2024/04/photonventures-a-deep-tech-venture-capital-fund-based-in-the-netherlands-closes-second-fundraising-round-for-its-fund-at-e75-million/
