imec fund raises €150m for deep tech investments
imec.xpand, the early-stage deep tech investment fund, has closed the first part of its second fund with €150m.
Working closely with the imec R&D lab in Belgium, the independently managed fund invests in startups that can benefit significantly from imec’s knowledge, expertise, network and/or infrastructure. A key element is providing chip designers with access to chipmaking capacity without having to invest heavily with foundries in the early stages.
The first imec.xpand fund raised in 2018 invested in 16 companies that have now raised close to €350 million in additional financing. These include US photonic quantum computing startup PsiQuantum as well as Spectricity, Celestial AI, Fabric8labs and Axelera AI.
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“It shows that our unique partnership with imec, our outspoken international approach and our ability to raise large rounds of financing in the early stages of development are widely recognized as
success drivers for ambitious semiconductor start-ups,” said Tom Vanhoutte, partner in imec.xpand. “This is the first step towards our target of €250 million which will solidify imec.xpand as a major player in the deep tech venture capital ecosystem. We are grateful for the vote of confidence by our existing investors and by the new investors who joined the imec.xpand II fund.”
“Our partnership with imec.xpand helps us to bring breakthrough imec innovations to the market through venturing”, says Luc Van den hove, CEO of imec. “To turn a revolutionary idea into a commercial success, entrepreneurs need access to advanced infrastructure, expertise, and growth capital. With imec.xpand, we bring these ingredients together to create a breeding ground for the unicorns of tomorrow. The successful first closing of imec.xpand II demonstrates the value of our unique approach.”
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