Belgian growth fund wraps up €150 million for ambitious deep tech startups –

Leuven-based early-stage and growth fund for deep tech innovation, Imec.xpand has closed the first round of its second fund at €150 million in committed capital. The amount raised exceeds the initial target by €30 million.

Initiated by research and innovation hub in nanoelectronics and digital technology, imec, Imec.xpand focuses on turning hardware-driven nanotechnology innovation into successful global companies. The fund will target ambitious tech startups.

Tom Vanhoutte, partner, imec.xpand said: “The newly wrapped fund is the first step towards our target of €250 million, which will consolidate our platform as a major player in the deep tech venture capital ecosystem.”

The first fund invested in 16 companies that have raised almost €350 million in additional financing to date. The fund is in the 5 percent of most promising early-stage funds in the world. The portfolio already contains one unicorn, PsiQuantum, and several minicorns. The recent successful capital rounds of PsiQuantum, Spectricity, Celestial AI, Fabric8labs and Axelera AI show the enormous potential of these innovative deep tech companies.

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