BtoV closes Industrial Technologies Fund on €100m

Industrial Technologies Fund will focus on expansion and early-stage industrial "deeptech" investments (companies founded upon substantial scientific advances and high-tech engineering innovation), including quantam technology, advanced mobility and new energy technology. It was launched in 2017 and held its first close in March 2018 on €29.5m. The fund reached an interim close in €80m in February 2019.

BtoV announced in February 2019 that it plans to launch Internet and Mobile Technologies Fund II. Its predecessor, Internet and Mobile Technologies Fund held its final close in July 2016 on €73.8m.

Investors
The Luxembourg-based vehicle has drawn LP commitments from European Investment Fund, LfA Förderbank Bayern and NRW Bank. 

The fund is also backed by a number of undisclosed family offices, corporate investors and banks. The LP base covers the DACH region, as well as Denmark, Luxembourg, France and Turkey.

Investments
BtoV has made five investments from the fund so far, the most recent of which was the round for HQS Quantam Simulations. The fund also participated in two rounds in June 2019: participation in the €2.5m funding round for German transport monitoring and logistics software provider Synfioo; and the pre-series-A round for Swiss eyecare treatment software company RetinAI Medical.

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