The Venture capital company btov has closed its Industrial Tech Fund at its target size of €100m. This becomes the largest European early-stage VC fund dedicated to industrial deep-tech investments. Btov has already invested in five companies out of this fund including RetinAI.
Early this year, btov raised €80 million fundraising round for the new Industrial Tech Fund and today, the investment firm has closed the fundraising at its target of €100 million. The funds stem btov’s LP base, which comprises entrepreneurs, family offices, endowments, corporate investors, banking institutions as well as public investors EIF, LfA and NRW Bank. The LP base covers multiple European countries including Germany, Switzerland, Austria, Denmark. Luxembourg, France and Turkey. btov’s Partners Robert Gallenberger, Benedikt Kronberger, Christian Reitberger and Christian Schütz will lead the new Fund.
The btov fund invests in robotics and autonomous agents, AI for industrial process optimisation, industry 4.0 and IIoT (Industrial Internet of Things), cyberphysical security, electronics and photonics, disruptive and resource-efficient production technologies such as additive manufacturing, power generation and storage, as well as medical and quantum technologies.
The Fund has already executed five investments since its inception last year. Two portfolio companies, DyeMansion and Cybus, represent the Factories of the Future focus area of the Fund. Synfioo represents the Enterprise Process Automation field, RetinAI is a Healthcare Data Analytics company and the recently announced fifth Fund investment in HQS Quantum Simulations falls into the Quantum Technologies focus area of the Fund.
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