Connect Ventures secures $55M first close for $80M deeptech fund
London-based Connect Ventures has closed $55 million of its planned $80 million fifth fund. The capital will target early-stage European startups with technical founders, backed by British Business Bank and other institutional investors. This marks the firm’s largest fund to date.
“The raise signals growing institutional appetite for European deeptech at a time when early-stage funding in the sector remains uneven.”
What it means
While Europe has seen a surge in deeptech interest, most capital has flowed to later-stage rounds. Connect’s focus on early-stage technical founders could fill a gap, but its success will depend on whether it can identify outliers before they reach Series A. The fund’s size also suggests confidence in Europe’s ability to produce breakout technical companies, despite lingering valuation gaps with the U.S.
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