Cottonwood Technology Fund has announced the initial closing of its third high-tech fund. The investment firm, which holds offices in New Mexico, USA and Enschede, Netherlands, (link in Dutch) revealed that the Cottonwood Technology Fund III now has 25 million euros on hand and is on target to reach its final closing goal of 75-100 million euros.
Cottonwood’s investment focus is on awarding seed and early-stage (pre-revenue/pre-product) investments to companies developing disruptive hard-science technologies. The fund works with corporates to determine technology areas of strategic interest – then finds, funds and helps develop entrepreneurial companies within those areas. Historical areas include photonics, advanced materials, clean energy, sensor and nanotechnology, robotics and medtech.