The venture capitalist originally targeted a volume of €165 million for its "Vsquared Ventures Fund II." The final closing actually reached €214 million. The funds will now be distributed to around 25 companies, with initial ticket sizes ranging from €500,000 to €5 million. Two-thirds of the fund will then be available for follow-on investments.
The new fund is supported by Novo Holdings, the investment arm of the Danish Novo Nordisk Foundation, and the NATO Innovation Fund. The Export and Investment Fund of Denmark, the European Investment Fund (EIF), the investment company of Fiat's founding family Agnelli, and KfW Capital are also involved as limited partners. Founders such as Oliver Trinchera and Alexander Huettenbrink from Kinexon.
The new fund will focus on six thematic areas: AI and next-generation software, energy transition, new computer technology and sensors, space travel, biotechnology, and robotics and manufacturing. Eight startups from these areas have already received support from the fund. These include the Aachen-based battery recycling startup Cylib, the Swiss AI chip manufacturer Synthara, and the Metzingen-based robotics company Neura Robotics. Vsquared Ventures is also involved in the Munich-based startups. Isar Aerospace, Hyperganic, The Exploration Company and Vaeridion involved.
Opposite Sifted explained Lise Reichensteiner, General Partner at Vsquared Ventures, that the venture capital firm will not only search for suitable startups in Munich, London, Paris, and Stockholm. She sees great potential in the Baltic states, especially in the areas of cybersecurity and biotech, and Copenhagen is a hub for quantum technologies and biomanufacturing.
Opposite the Handelsblatt justified Thomas Oehl, one of the co-founders of Vsquared Ventures, the investment strategy of the new fund:
"Europe cannot rely on the automotive and chemical industries to keep everything running. We need long-term value creation in new industries."
