B2venture hits €150M hard cap for fund V to back European deeptech

What’s the deal? B2venture has closed its fifth fund at a hard cap of €150 million to back early-stage European tech startups. The Switzerland-based venture firm will focus on deeptech, including artificial intelligence, climate tech, robotics, and industrial software.

The fund targets pre-seed and seed investments, continuing B2venture’s long-standing strategy of backing founders early and supporting them through follow-on capital.

Why now? The close comes as Europe pushes to strengthen its technology base amid tighter global competition and shifting geopolitics. Deeptech startups, often spun out of research institutions, are gaining attention as strategic assets but still face funding gaps at early stages.

B2venture says demand from limited partners remained strong despite a cautious venture market, allowing the firm to hit its hard cap.

What could go wrong? Deeptech investing requires patience, with longer development cycles and higher technical risk than consumer or software startups. Capital-intensive companies may also struggle if follow-on funding becomes harder to secure.

A weaker exit market could delay returns, testing investor appetite for long-duration funds.

The signal: The fund close points to sustained confidence in Europe’s deeptech pipeline, even as generalist venture slows. Specialist firms with a clear focus and track record are still able to raise large funds.

It also reflects a broader shift towards backing foundational technologies seen as critical for Europe’s economic resilience and competitiveness.

Sources:
B2venture
Sifted
Tech.eu
Tech Funding News
Startup Ticker
Stratup Researcher
Startup Rise
EU Startups

J.V.