[Funding alert] Amsterdam-based OTB Ventures Secures a €170 Million in Oversubscribed Fund

Thursday 21, 2024 | By Startup Rise EU

  • OTB Ventures, a European Venture Capital firm secures a €170 million in oversubscribed funding
  • Oversubscribed funding is use to support the development and expansion of the most outstanding early-stage deeptech firms in Europe.
  • OTB Ventures was established by Gregory Jankilevitsch, Adam Niewinski, Marcin Hejka in 2017. It is currently the largest VC originating from the CEE.
OTB Ventures, venture capatilist firm secures €170 million oversubscribed funding
OTB Ventures, venture capatilist firm secures €170 million oversubscribed funding

The European Innovation Fund (EIF), Isomer Capital, NATO Innovation Fund (NIF), Foundation for Polish Science, TDJ Venture, Marcin Zukowski, co-founder of Snowflake, and OnDean, the family office of the Relativity founders, will support Fund 2.

The largest venture capital firm with roots in Central and Eastern Europe, the dedicated Deep-Tech fund, will make investments in four key verticals throughout Europe: FinTech Infrastructure, Enterprise Automation & AI, SpaceTech, and Cybersecurity.

Similar to OTB Ventures' Fund 1, Fund 2 will primarily be used for Series A investments, with a new up to 10% allocation for Seed funding to support the growth of promising ventures at their inception. This follows the Partner's successful track record of identifying winners in emerging technology sectors at an early stage.

More than half of the cash of OTB Fund 2 will be set aside for follow-on investments to help the portfolio firms with the highest performance levels secure further fundraising rounds. OTB Ventures will keep significant minority holdings in the businesses in its portfolio.

Adam Niewiński, co-Founder and Managing Partner of OTB Ventures, said: “We are thrilled to announce the successful closure of our latest fund, a testament to the enduring confidence our investors have shown in us. This achievement comes despite the market still being somewhat challenging, building on the proven success of Fund 1. Our new fund empowers us to further our mission of supporting disruptive DeepTech startups that are leveraging Europe’s outstanding tech talent pool – the biggest natural resource that our continent can offer.”

Marcin Hejka, co-Founder and Managing Partner of OTB Ventures, commented: “This is our largest fund yet and a reflection of Europe’s emergence as a growth market for DeepTech startups and technology talent. DeepTech is in our blood and has been our core strategy since we founded OTB in 2017, so this milestone not only marks a significant achievement for our firm but also reaffirms our dedication to fostering innovation and entrepreneurship.”

Additionally, it comes after OTB Ventures recently made a seed investment in SEMRON, a Dresden-based business that makes AI chips with the highest compute density, indicating a greater emphasis on semiconductor technology.

By making investments in ClearSpace, the pioneer in space trash cleanup, Atmos Space Cargo, and Kurs Orbital, an Italian startup that seeks to democratize in-orbit maintenance and space logistics sectors, OTB Ventures has further bolstered its SpaceTech lineup within its portfolio.

Andrea Traversone, Managing Partner, NATO Innovation Fund (NIF), added: “OTB and the NATO Innovation Fund share a passion for deep tech dual-use technologies, investing into ambitious founders to secure an enduring future for the Alliance’s one billion citizens. Our first 1 billion flagship fund invests at the intersection of deep tech, defence, security, and resilience, with themes including energy, quantum computing, autonomy, climate, industrials, space, and biotechnology. OTB fully aligns with our mission. NIF operates as a standalone VC, leading both early stage direct investments and fund-of-funds.”

Marjut Falkstedt, CEO of the European Investment Fund (EIF), said: “Our aim is to foster innovation, build new markets, strengthen competitiveness and boost jobs and growth throughout the EU. This is why we are delighted to be renewing our collaboration with OTB Ventures, with the financial backing of the InvestEU programme, in order to support deeptech companies across Europe and help them to overcome their financing challenges. This is important as much for the companies that we will be supporting, as it is for the EU’s competitiveness on the global stage.”

Mateusz Sumara, Investment Director, TDJ Venture, commented: “Looking at the achievements of Adam Niewinski and Marcin Hejka’s team, I am convinced that we have joined the ranks of partners to the European leader in the deep tech sector. Their exceptional ability to identify innovative projects with high potential is confirmed by the investments of the first fund, and the second fund looks equally promising. I’m glad that even though TDJ Venture focuses on projects in the growth stage, we can support startups in earlier stages thanks to teams like OTB Ventures.”

About OTB Ventures

OTB Ventures, a European venture capital firm specializes in European deep tech and has an unfair advantage when it comes to gaining access to deal flow in Central and Eastern Europe (CEE).

It invests in real tech startups in their early stages of growth (late Seed, Series A, and B), developing cutting-edge technologies across four verticals: FinTech, SpaceTech, AI & Automation, and Cybersecurity.

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