IQ Capital, a U.Ok.-based deep tech fund that has invested in startups reminiscent of Paragraf, Senseye and Funderbeam, has launched a brand new $125 million Growth Opportunities Fund and closed its third enterprise fund, IQ Capital Fund III, at $175 million. This brings the full new capital to be invested to greater than $300 million. National Grid Partners have joined British Patient Capital and numerous different world establishments as an investor in IQ Capital Fund III.
The transfer is a part of a wider shift in VC investing throughout Europe towards so-called deep tech (AI, biotech, blockchain, and so on.).For occasion, Adara Ventures, a Spanish VC agency, not too long ago closed its third fund with commitments in extra of €65 million to again European early-stage deep tech startups.
IQ says the $125 million fund will present later-stage capital to the best-performing corporations of their current portfolio. The first to profit from that is Privitar, a startup in information privateness engineering that IQ Capital funded from seed stage as a part of its $40 million Series B funding spherical introduced final month.
Alongside the launch of the brand new fund, IQ Capital has reached the ultimate closing for its third enterprise fund at $175 million, which focuses on investing into corporations at seed and Series A stage. In the final 12 months, IQ Capital has invested in 12 corporations, together with Causalens, Concirrus and Iotic. Previous Fund II startups embody Thought Machine, Fluidic Analytics, Paragraf and Speechmatics.
Max Bautin, co-founder and companion at IQ Capital, mentioned in an announcement: “The companions, Ed Stacey, Kerry Baldwin, and I, have been investing in deep-tech for over 20 years, and through this time we’ve seen funding within the sector develop from tens of hundreds of thousands p.a. to $1.75 billion deployed throughout Europe in 2018 alone. Half of this capital was invested into UK start-ups, reinforcing the UK as a pacesetter in Europe, with well-established know-how ecosystems shaped in Cambridge, Bristol, Oxford, and London.
“IQ Capital has grown its funds beneath administration over 10x within the final 5 years, following exits to Google, Apple, and Facebook, and a double-dragon to Oracle . The funding staff has tripled in measurement over the identical interval with current joiners Rick Hao, Daniel Carew and Marek Chalupnik. IQ Capital is now firmly established because the main deep tech investor within the UK.”
Lisa Lambert, founder and president of National Grid Partners mentioned: “IQ Capital…is positioned because the go-to deep-tech fund within the EU, and the staff has a confirmed…