OTB Ventures, a venture capital firm specializing in DeepTech investments across Europe, has successfully closed its second fund at $185M (approximately €170M).
This substantial investment is supported by the European Investment Fund (EIF) under the InvestEU Fund and the NATO Innovation Fund (NIF), along with contributions from Isomer Capital, FNP Foundation for Polish Science, TDJ Venture, Snowflake co-founder Marcin Zukowski, OnDean, and the family office of the Founders of Relativity.
The NATO Innovation Fund (NIF), backed by 23 NATO Allies, aims to invest in startups addressing critical security challenges. This announcement follows NATO’s establishment of its €1B flagship fund eight months prior.
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Fund Utilization and Investment Strategy
OTB Ventures plans to allocate the fund primarily at the Series A stage, reserving about 10% for seed funding and over 50% for follow-on investments. The firm’s investment focus spans four key verticals: space technology, enterprise automation and AI, cybersecurity, and fintech infrastructure. Since its initial close in November 2022, OTB has made nine investments, including in German startups KYP.ai, a productivity platform, and Semron, a developer of innovative chips.
OTB Ventures: A DeepTech Focus
Founded in 2017, OTB Ventures has emerged as the largest VC in Central and Eastern Europe (CEE), managing over $300M. With offices in Amsterdam, Netherlands, and Warsaw, Poland, OTB specializes in investing in B2B early-stage technology startups in Europe, particularly in SpaceTech, AI & Automation, FinTech, and Cybersecurity. The firm boasts an advantage in accessing deal flow in CEE, positioning it as a leading player in the region.
OTB Ventures targets companies that have launched their product and demonstrated a track record of increasing revenue. Investments range from $1 million to $15 million for a “meaningful minority stake,” with the level of commitment evolving based on the company’s performance over time. OTB’s portfolio includes companies like SpaceKnow, Cosmose, akirolabs, Silent Eight, and Hydrosat.
With this new fund, OTB Ventures is poised to further its mission of supporting innovative DeepTech startups in Europe, driving advancements in technology and contributing to the region’s economic growth.
