UK-based Amadeus Capital Partners and Austria Apex Ventures They are pooling their joint venture capital (VC) funds for a new fund specifically targeted at early-stage deep tech startups.
The duo raised an initial 28 million euros ($30 million) for the Amadeus Apex Technology Fund, which plans to close at 80 million euros ($85 million). The fund made its first investment, participating in a so far undisclosed second round of seed funding for German space startup Okapi-Orbits for $1 million.
The fund’s core investment team includes Amadeus co-founders Anne Glover and Hermann Hauser, who are joined by Apex partners Andreas Riegel and Wolfgang Neubert.
The goal of the Amadeus Apex Technology Fund is to invest between €1-1.5 million in seed and Series A-level startups in “unique and scalable technology”, including AI, quantum computing, mobility and outer space, robotics and other areas. Deep technological sphere. Additionally, the fund’s main focus will be on the DACH region, which includes Germany, Austria and Switzerland, although there is scope to branch out into nearby markets – although this excludes the UK.
“The partnership will allow early stage investments in other European markets outside of the UK, such as Poland, Denmark and the Netherlands, which are on our radar for everything from quantum tech to physics and AI,” Riegler explained to TechCrunch. “We have focused on this region because we recognize that it is a good breeding ground for first-rate deep technological innovation, with top universities and a large pool of developers. At the same time, deep technology financing is still low, which provides a great opportunity for growth.
In the year Founded in 1997, Cambridge, UK-based Amadeus Capital Partners has made more than 260 investments over the past 25 years, including its namesake network security company ForScout, which was snapped up by private equity firms for $1.9 billion in 2020. , and self-driving startup FiveAI acquired by Bosch last year. Apex Ventures, meanwhile, has made 40 investments since its founding in Vienna six years ago.
So while both VC firms have different histories, each has been doing well so far investing in the deep tech space — so why partner on this new fund?
“We are together. [Amadeus Capital’s] Hermann Hauser for many years – he was an investor in us. [Apex’s] An early fund and a member of the firm’s advisory board, and we have several mutual investments,” Rigler said. “This subsequently led to a close relationship with the Amadeus Capital Partners Group. The Amadeus Group sought to expand their early stage footprint in Europe and turned to Apex Ventures for our local expertise, deal flow and syndication experience.
And compared to Amadeus, Apex, a newcomer on the VC scene, hits a quarter-century of investment experience.
“We benefit greatly from having more than 25 years of experience and a deep technology network,” Riegler said.