News: Optoelectronics
11 October 2024
PhotonVentures Fund I receives €5m investment from Invest-NL
Netherlands-based independent deep-tech venture capital fund PhotonVentures has received investment from national financing and development institution Invest-NL and a group of new private investors, with Invest-NL contributing €5m. This not only strengthens the fund’s capital base but also underscores the importance of the photonics industry for the Netherlands, as well as its competitive position in Europe and globally, says PhotonVentures. Integrated photonics is one of the key technologies in which Europe, and particularly the Netherlands, plays a significant role. To maintain this position, substantial investments from both the private and public sectors are essential, it adds.
Invest-NL joins a group of tech investors, family offices, the Brabant Development Agency (BOM), PhotonDelta, Oost NL, the University of Twente, and TNO, who have previously invested in the fund. The final close of PhotonVentures Fund I, with a targeted fund size of €100m, is planned for the end of 2024.
PhotonVentures was spun off from PhotonDelta, which was founded in 2014 as a growth accelerator for the integrated photonic chip industry in the Netherlands and Europe. PhotonDelta has since invested in photonics companies and R&D, establishing a cross-border ecosystem of organizations that research, design, develop and manufacture solutions with integrated photonic chip technology. In 2022, PhotonDelta secured €1.1bn in public and private investment to scale up production, build 200 start-ups, create new applications for photonic chips and develop infrastructure and talent.
PhotonVentures is a specialized deep tech fund that invests in photonics startups in the Netherlands and Europe. By investing from an ecosystem perspective, young companies in the portfolio are better positioned in the rapidly developing photonics market, gain quicker access to customer feedback, and benefit from an international network for further growth. The fund currently has 14 investments in companies, including Smart Photonics, Effect Photonics, Phix, PhotonFirst, and VitreaLab.
Invest-NL’s involvement as a new investor “not only reflects confidence in this specialized fund but also highlights the immense potential of integrated photonics and the crucial role it plays in technological progress in the Netherlands and beyond,” says Ewit Roos, general partner at PhotonVentures.
“Photonics is a key technology for the Netherlands and a priority in the national technology strategy,” notes Liz Duijves, investment manager at Invest-NL. “As one of the few photonics funds in Europe, PhotonVentures is a vital player in the further development of this sector. Our investment makes a significant contribution to the growth and innovation of the integrated photonics industry in the Netherlands.”
PhotonVentures’ second fundraising round of €15m raises total to €75m
PhotonDelta gains €1.1bn funding, including €470m from Netherlands’ National Growth Fund
