IMEC venture capital raises second fund
The early-stage venture capital fund, imec-xpand, has raised €150 million (about US$165 million) towards its second fund.
It has a target of raising €250 million (about US$275 million) but did not indicate how quickly that would be achieved.
Imec.xpand, was formed by the IMEC research institute in 2017 and closed its first fund at €117 million (about $135 million) about a year later. The fund has invested in 16 companies that, so far, that have raised close to €350 million in additional financing.
The portfolio includes one unicorn, PsiQuantum, and several minicorns. There have been recent successful capital rounds portfolio members PsiQuantum, Spectricity, Celestial AI, Fabric8labs and Axelera.
Tom Vanhoutte of imec.xpand said: “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.”
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