OTB Ventures has finalized a €170 million fund, significantly oversubscribed, aimed at nurturing and scaling Europe’s most promising early-stage deeptech startups. Fund 2, supported by the European Investment Fund (EIF), Isomer Capital, NATO Innovation Fund (NIF), Foundation for Polish Science, TDJ Venture, Marcin Zukowski (co-Founder of Snowflake), and OnDean (family office of the Founders of Relativity), will focus on four key verticals across Europe: SpaceTech, Enterprise Automation & AI, Cybersecurity, and FinTech Infrastructure.
As the largest VC rooted in Central Eastern Europe, the dedicated Deep-Tech fund will mainly target Series A investments, with a portion allocated for Seed funding to nurture budding ventures from inception. More than 50% of the fund’s capital will be earmarked for follow-on investments to support subsequent funding rounds for the top-performing portfolio companies. OTB Ventures intends to maintain substantial minority stakes in its portfolio firms.
Adam Niewiński, co-Founder and Managing Partner of OTB Ventures, expressed enthusiasm for the successful fund closure, emphasizing investor confidence despite market challenges. He highlighted the fund’s mission to support disruptive DeepTech startups leveraging Europe’s tech talent pool.
Marcin Hejka, co-Founder and Managing Partner of OTB Ventures, underscored Europe‘s emergence as a growth market for DeepTech startups, emphasizing the firm’s commitment to innovation and entrepreneurship.
The announcement follows the first close of Fund 2 in November 2022, with investments already made across target sectors. Notable investments include Series A funding for productivity platform KYP.ai and Seed investments in AI enterprise automation startup akirolabs and enterprise database enrichment company Veridion.
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