Introduction
A new fund has emerged in the venture capital (VC) scene, specifically targeted at early-stage deep tech startups. The Amadeus Apex Technology Fund, a collaboration between U.K.-based Amadeus Capital Partners and Austria’s Apex Ventures, aims to invest between €1-1.5 million in seed and Series A-stage startups with unique and defendable technology. In this article, we will delve into the details of the fund, its investment strategy, and what it means for the deep tech ecosystem.
The Fund
The Amadeus Apex Technology Fund has raised an initial €28 million ($30 million) and plans to close out at €80 million ($85 million). The fund’s core investment team includes Amadeus’ co-founders Anne Glover and Hermann Hauser, who are joined by Apex partners Andreas Riegler and Wolfgang Neubert.
Investment Strategy
The fund will focus on investing in startups with unique and defendable technology, specifically in areas such as AI, quantum computing, mobility, outer space, robotics, and other deep tech sectors. The partnership also allows for early-stage investments in other European markets outside the U.K., including Poland, Denmark, and the Netherlands.
Why Partner Up?
According to Andreas Riegler, partner at Apex Ventures, "We have collaborated with Amadeus Capital’s Hermann Hauser for many years. He was an investor in our first fund and an advisory board member of the firm. This subsequently led to a close relationship with the Amadeus Capital Partners team." The partnership will tap into over 25 years of investment experience and a network in deep tech.
History of Amadeus Capital Partners
Founded in 1997, Cambridge, U.K.-based Amadeus Capital Partners has made more than 260 investments over the past 25 years. Exits to their name include network security company Forescout, which was snapped up by a duo of private equity firms for $1.9 billion in 2020, and self-driving startup FiveAI, which was acquired by Bosch last year.
History of Apex Ventures
Meanwhile, Apex Ventures has made some 40 investments since its formation in Vienna six years ago, most recently joining a €2.7 million funding round into German biophotonics startup Refined Laser Systems.
What Does This Mean for the Deep Tech Ecosystem?
The Amadeus Apex Technology Fund’s focus on early-stage deep tech startups is a significant move, as it aims to bridge the gap between seed and Series A funding. According to Andreas Riegler, "We recognize [the DACH region] as a perfect breeding ground for early-stage deep tech innovation, with top universities and a large developer pool." The fund’s scope will also extend to other European markets outside the U.K.
Quotes from Key Players
- "This subsequently led to a close relationship with the Amadeus Capital Partners team." – Andreas Riegler, partner at Apex Ventures
- "We recognize [the DACH region] as a perfect breeding ground for early-stage deep tech innovation, with top universities and a large developer pool." – Andreas Riegler, partner at Apex Ventures
Conclusion
The Amadeus Apex Technology Fund is a significant move in the venture capital scene, specifically targeting early-stage deep tech startups. With an initial €28 million raised and plans to close out at €80 million, this fund has the potential to make a significant impact on the deep tech ecosystem.
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