Paul van Gerven
9 February 2023

Innovation Industries is launching a third deep-tech fund. Raised from pension funds PME and PMT, Rabo Investments, East Netherlands Development Agency (Oost NL), Brabant Development Agency (BOM), TNO and private investors, it has 200 million euros available to support the growth of about fifteen startups. At a later stage, the fund expects to secure an additional 100-200 million euros.

Growth capital

Previously, Innovation Industries raised 275 million euros with two similar funds. The venture capitalist built a portfolio of 25 mostly Dutch companies, which include Smart Photonics, Effect Photonics, Nearfield Instruments, Onera, Axelera AI and Solynta.

“We’re delighted that with a new round, we can invest in promising Dutch startups that will hopefully make a difference in the world. This is not only important for the future of the Dutch economy but is also much needed at a time when we’re facing major challenges such as climate change, aging and a growing global population,” says Harm de Vries, partner at Innovation Industries.

Last December, Forward.one announced the closing of its second, 145-million-euro deep-tech fund. The Alkmaar-based VC firm supports companies in the Nordics, Germany and the Netherlands.

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