TLDR:
- Imec.xpand, a tech fund, raises 300 million euros for European deep-tech startups.
- The fund focuses on AI, photonics, and biotechnology for medical diagnosis.
Article Summary:
Imec.xpand, a venture capital fund, has raised 300 million euros for deep-tech startups in Europe. The fund is focused on companies that require a significant development time and capital, particularly in the fields of artificial intelligence, photonics, and biotechnology for medical diagnosis. The goal of the fund is not just funding, but also about building companies that can be leaders in the next wave of technological developments. Imec.xpand has a track record of supporting innovative companies, with past focus on semiconductors and nanotechnologies. Most of the funding for the new imec.xpand fund comes from Quaestor Wealth Care, a wealth manager based in Roeselare, Belgium. This wealth manager pools capital from wealthy individuals for investment in the fund, expanding the reach of potential investors.
This is the second fund for imec.xpand, with the initial round raising 116 million euros seven years ago. The fund has already invested in 23 companies, predominantly high-tech companies associated with the Leuven research institute. Two unicorns, including PsiQuantum and potentially Celestial AI, have emerged from these investments. Imec.xpand is also expanding its focus to the Netherlands, particularly in the Eindhoven region, with investments in companies like Axelera AI, Scil (a Philips spinoff), and Onera. The fund has opened a branch in the financial district of Amsterdam to further facilitate investments and partnerships.
