The research institute has been joined by limited partners ranging from Philips to Brabantse Ontwikkelings Maatschappij, with a minimum target size set at $107m.

TNO, the Netherlands-based research institute for applied scientific research, has backed the DeepTechXL Fund I, which has a minimum target size of €100m ($107m).

DeepTechXL Fund I’s limited partners also include photolithography systems developer ASML, conglomerate Philips, development agency Brabantse Ontwikkelings Maatschappij, PME Pension Fund and state-founded impact investment firm Invest-NL.

It is unclear how much capital the fund has raised thus far. Dutch government institute Rijksdienst voor Ondernemend Nederland supplied a $9.7m loan specifically allocated to seed-stage companies.


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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).