Innovation Industries secures €150m for second fund

Pension Fund Metalektro (PME), a fund for workers in the Dutch metal/electro-manufacturing industry, and Pensioenfonds Metaal en Techniek (PMT), a pension scheme for the metal and engineering industry, each invested €75m in the fund.

MN Services, the asset manager for both schemes, said it was involved in establishing the fund to create a "future-proof fund" that meets the requirements of the two metal funds.

Innovation Industries Fund II is targeting a final close of €250m later this year. The manger's previous fund raised €75m in 2017 and has currently invested in 13 portfolio companies.

Investors
PME previously invested €25m in the first fund, which also secured support from the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments.

Investments
Innovation Industries has a broad investment mandate and invests in startups, scale-ups and growth capital. Initial investment sizes are between €1-20m.

The GP typically invests in companies in the fields of nano- and microtechnologies, semiconductors, integrated photonics, clean technology, food, agriculture and medical technology.

People
Innovation Industries – Harm de Vries (partner).

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