10 European Deep Tech Venture Capital Funds You Should Know

 According to Dealroom's European Deeptech Report 2025, deeptech now accounts for 28% of all European venture capital investments. European deeptech startups raised more than €13 billion in 2025 alone, spanning quantum computers, space systems, and autonomous robotics. And those deeptech startups that reach the commercialisation phase are now reaching unicorn status 2.5 years faster than the generation before them. Capital is following. No other segment of the European startup ecosystem has seen as much fund formation activity over the past twelve months as deeptech, established investors are doubling down and a new generation of specialised funds is stepping onto the scene. We've put together ten venture capital funds that positioned themselves in 2025 and 2026 for deeptech investing in Europe, and that you should know as a founder, investor, or ecosystem builder.

Kembara | Barcelona / Madrid / London / Paris

Co-founded by Javier Santiso (CEO of Mundi Ventures) and Yann de Vries (former partner at Atomico), the fund made its first close at €750 million in February 2026, targeting a final close of up to €1.25 billion.

That makes Kembara the largest dedicated deeptech growth fund in Europe. The fund is anchored by a €350 million commitment from the European Investment Fund (EIF) under the European Tech Champions Initiative. It specifically targets the Series B and C gap in Europe: initial tickets of €15 to €40 million, with follow-on capacity of up to €100 million per company. The investment focus covers AI, quantum computing, clean energy, robotics, space technology, and dual-use.

55 North | Copenhagen, Denmark

Quantum technology is no longer a science fiction topic. Denmark grasped this early. 55 North announced its first close at €134 million in October 2025, targeting a final one of €300 million. That makes 55 North the largest dedicated quantum technology VC fund in the world.

It was founded by Dr. Owen Lozman (ex M Ventures), Dr. Helmut Katzgraber (ex Amazon, Microsoft) and Dr. Kai Hudek (ex IonQ), three quantum specialists with deep technical and entrepreneurial credentials. Anchor investors include EIFO (the Danish state export fund) and Novo Holdings. Early portfolio moves include participating in IQM's €275 million Series B and the €13 million Series A-2 of German cryogenic cooling specialist Kiutra.

Omnes Capital – Omnes Real Tech 2 | Paris, France

When a fund is the first in Europe to benefit from the EU's defence investment mandate, it says something important about the strategic direction of the European deeptech ecosystem. Omnes Capital raised €112 million for the first close of its second deeptech fund, Omnes Real Tech 2, in July 2025, with a total target of €200 million.

Omnes Capital manages more than €6.7 billion in assets under management and has over 20 years of experience in the European deeptech ecosystem. Its predecessor fund has built an impressive reference portfolio: companies like Quantum Systems (Europe's first profitable defence unicorn), Quandela (quantum computers), and The Exploration Company (space) are now European deeptech benchmarks.

U2V – University2Ventures | Europe (Germany)

Some of the best deeptech ideas are born in university labs. The challenge: very few of them make it to the market. U2V announced the first close of its €60 million Fund I in December 2025 with the explicit goal of professionalising exactly that transfer, systematically.

U2V (University2Ventures) is a spin-off from Earlybird-X, one of the very first European deeptech spin-out funds. Founded in 2025 by Dr. Philipp Semmer, Michael Schmitt and Johannes Triebs, the team draws directly on its Earlybird-X experience to turn scientists into entrepreneurs.

Lunar Ventures | Berlin, Germany

"We invest before traction, before the hype with the technical knowledge to build conviction before it becomes consensus." That's how Mick Halsband, founder and General Partner, describes Lunar Ventures' philosophy. In May 2025, the Berlin-based fund closed its Fund II at €50 million, built as an early and deeply technical partner for deeptech founders.

LPs include Isomer Capital, Exor's Lingotto, the Intesa San Paolo Endowment, and the Grinnell College Endowment. Lunar Ventures deploys a team of engineers, operators, and PhDs capable of conducting highly technical due diligence independently.

Constructor Capital | Zurich, Switzerland

The Swiss VC fund closed its debut fund at €92.8 million in February 2026, targeting Seed and Series A investments in deeptech, software, and EdTech.

What sets Constructor Capital apart is its "Science-First" approach: a network of over 50 universities (including Harvard, MIT, Oxford, Cambridge, and ETH Zurich) together with hundreds of researchers, including Nobel laureates, forms the backbone of its sourcing and due diligence process. The team around Managing Partner Matthias Winter and General Partner Marie Lepske (focused on deeptech and quantum technology) has the technical depth to evaluate complexity that most generalist funds cannot.

Creator Fund | London, United Kingdom

PhD founders and scientist-entrepreneurs often face a paradox: the best investors don't understand their technology, and the best technical investors arrive too late. Creator Fund solves this with an unusual model: the London-based pre-seed fund operates on 28 university campuses across Europe, deploying student investors to identify projects early. Before anyone else.

In October 2025, Creator Fund closed its first European institutional fund at €34 million, anchored by Equation Capital and the Danish EIFO. The new fund targets 40–45 early-stage investments with tickets of €420,000 to €750,000 into spin-offs from top universities including Cambridge, ETH Zurich, and Munich.

Backed VC | London, United Kingdom

Few funds in Europe can point to as many early bets that later became unicorns as Backed VC. And fewer still combine investing with community-building at this level. In November 2025, Backed VC closed its third fund at €86 million, simultaneously celebrating its 100th investment in the European frontier tech space.

Fund III focuses on three areas: AI-native therapeutics, blockchain and banking infrastructure, and manufacturing automation. What makes Backed stand out is its global events program with over 40 events per year and more than 4,000 participating founders and investors. Portfolio companies including Invisible Technologies, Thought Machine, and Flow Engineering have collectively raised €15–125 million in follow-on rounds from US investors including Sequoia, General Catalyst, and Khosla.

Balnord | Baltic Sea Region, Europe

Balnord, an early-stage investor focused on the Baltic region, exceeded its €70 million target with the first close of its Fund I in Q4 2025, and is on track to reach €100 million by mid-2026.

The fund explicitly targets deeptech and dual-use companies. A combination that is attracting growing attention given Europe's geopolitical environment and the strategic importance of the Baltic region. Balnord addresses a real geographic and thematic gap: while most funds concentrate on Western Europe, Balnord builds on the strong scientific output and rapidly maturing startup culture in Estonia, Latvia, Lithuania, Poland, and the Nordics.

PSV Hafnium | Denmark / Nordics

PSV Hafnium closed its debut fund oversubscribed at €60 million, focused exclusively on Nordic deeptech spin-offs from universities and research institutions.

The fund enters the market at a pivotal moment: European deeptech and life sciences spin-offs were on track in 2025 to reach an all-time high of €7.5 billion in capital raised. Dealroom's 2025 Spinout Report identifies 76 European deeptech spin-offs that have already achieved unicorn status or €85 million in annual revenues, a clear signal that commercial giants can and do emerge from academic labs.

Europe's Deeptech Moment: Capital Is Getting Strategic

All these 10 funds are building bridges: between science and market, between regional hubs and global networks, between early conviction and long-term partnership. And they are doing it at a moment when Europe must decide whether to scale its best innovations at home, or watch them get acquired or pulled away. What is missing is not the innovation. It is structured, specialised capital at the right stage. And that is precisely what these ten funds are providing.