Vsquared Ventures has closed largest European early-stage deeptech fund at €214M. The funding will be allocated to startups across AI, new space, robotics, energy transition, new computing and biotech.
The closing of Vsquared II brings Vsquared’s assets under management to around €450 million. Companies currently in its portfolio are oriented towards highly technological solutions, ranging from making battery recycling more sustainable and cost-efficient or ensuring independent access to space.
Investments include Quantune, which is developing the world’s first wearable laser-based biomarker measurement system; bioscience company Atrandi, which is enabling next-gen sequencing at scale; Dynelectro, which is enabling cost-efficient and sustainable hydrogen production; Lace Lithography, focused on advancing chip patterning technology; leading provider of space-based insights ConstellR; and Synthara, at the forefront of integrating in-memory computing.
Vsquared is led by GPs Lise Rechsteiner, Thomas Oehl, Herbert Mangesius and Benedikt von Schoeler, and has backed deeptech companies such as Isar Aerospace, Zama, IQM Quantum, Inbrain Neuroelectronics and The Exploration Company. Dr. Lise Rechsteiner, Thomas Oehl, Dr. Herbert Mangesius and Benedikt von Schoeler, Vsquared’s GPs, commented: “Right now there is immense opportunity for Europe to become a global deep tech powerhouse – which is also imperative to secure the continent’s sovereignty and to make it future-proof.
“Companies that solve real problems through real technology on a global scale will be successful and these are the ones we partner with. As Vsquared continues to drive forward with Vsquared II, we remain dedicated to leveraging not only capital, but also our expertise, extensive partner and network for our founders, with the goal in mind to prove that the next global deep tech leaders can and will be European.â€
Capital was provided by institutional investors, family offices, fund of fund investors and other individual players, including founders. These include Novo Holdings, the investment company of the Novo Nordisk Foundation, Lombard Odier Investment Managers, the NATO Innovation Fund (NIF), EIFO, the European Investment Fund (EIF), KfW Capital, and Lingotto.
Sören Thinggard Jensen, Senior Partner and Head of Private Equity at Novo Holdings said: “We believe Vsquared is one of the funds in Europe with the best understanding of deep tech startups, proven by the track record in investing early in some of the current frontrunners in the ecosystem. We look forward to partnering with Vsquared to ensure that the continent is strongly positioned and to back the next generation of deep tech leaders out of Europe.â€
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