PhotonVentures, an Eindhoven, The Netherlands-based deep tech venture capital firm, launched a venture capital fund aimed at early-stage photonic chip startups and scale ups.
€60m was raised in its first financing round with PhotonDelta as the lead investor alongside numerous private investors.
PhotonVentures plans to raise a total of €100 to €150m, with its final close set for the start of 2024. It will prioritise Series A rounds, with the aim of providing investments between €1m – €2.5m. The fund is planning to initially invest in 15 European deep-tech companies that have potential to grow into international winners in their sectors. The startups should have an integrated photonics-based MVP connected to the European ecosystem.
The firm’s investment strategy leverages on the Dutch PhotonDelta ecosystem to accelerate European startups and scale-ups.
PhotonVentures and PhotonDelta are strategic partners with the aim of supporting the growth of Europe’s photonics industry. Photonic chips are critical in a range of applications like quantum computing, robotics, sustainable agriculture, and autonomous vehicles.
Founded in 2014, PhotonDelta has made significant investments in photonics companies and R&D over the last five years. In backing the fund, PhotonDelta has taken another step forward in its goal of building a world leading industry for integrated photonics in the Netherlands and Europe. Last year, PhotonDelta secured €1.1 billion in public and private investment to scale up production, build 200 startups, create new applications for photonic chips and develop infrastructure and talent.
The PhotonVentures board consists of Joachim de Sterke, Pieter Klinkert and Rijkman Groenink.
FinSMEs
04/09/2023