Invest-NL Deep Tech Fund
Funds Dutch deep-technology start-ups and scale-ups in photonics, quantum, and nanotechnology with higher-risk capital.
The Deep Tech Fund (DTF) is a dedicated €250 million equity and risk-capital fund launched by Invest-NL on 10 March 2022, co-funded by the Dutch Ministry of Economic Affairs and Climate Policy (€175 million) and Invest-NL itself (€75 million). The fund invests in start-ups and scale-ups operating in knowledge-intensive and capital-intensive deep-tech sectors — specifically photonics, quantum technology, nanotechnology, and other strategic technologies aligned with the Dutch National Technology Strategy. The DTF targets companies that are stuck in the so-called valley of death: businesses with high technological risk and commercially unproven markets that cannot secure conventional financing from banks or private venture capital.
Target companies must be Dutch-based or have substantial Dutch economic impact, and must be for-profit entities at the start-up or scale-up stage. Specific ticket sizes per investment are not published, but given the €250 million pool and the focus on deep-tech rounds, individual investments are estimated in the €5 million to €25 million range. The fund uses equity, convertible instruments, and debt-blend structures. Seed-stage companies, real estate projects, and grant-seeking organizations are excluded from the DTF, consistent with Invest-NL's broader direct-financing exclusion criteria.
Applications to the DTF are initiated through the Invest-NL Financing Check tool on the Invest-NL website, or via direct outreach to the DTF team. The investment process involves initial screening, technical and commercial due diligence, and investment committee approval. The fund is structured to complement private co-investors by taking positions that reduce the overall risk profile of a round, thereby crowding in additional private capital for strategically important Dutch deep-tech companies that would otherwise remain underfunded.
Equity and convertible risk capital for Dutch start-ups and scale-ups in knowledge-intensive deep-tech sectors — primarily photonics, quantum technology, and nanotechnology — that cannot access conventional financing due to high technological risk.
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