Nevermind VC closes €23.6M first fund for dual-use deeptech
Nevermind Ventures has closed €23.6 million for its debut fund, targeting early-stage deeptech startups in Italy and Europe developing technologies with applications in both civilian and defense sectors. The first close, reported by tech.eu, makes it one of the few venture funds in the region explicitly backing dual-use frontier technologies.
The fund’s focus on dual-use deeptech distinguishes it from generalist or purely commercial deeptech investors. While details on limited partners remain undisclosed, the strategy fits a broader pattern of European funds raising capital for startups in areas like AI, robotics, and advanced materials—sectors that appeal to both defense agencies and private buyers.
Recent months have seen increased activity in deeptech-focused funds, though most target commercial applications. Unlike those, Nevermind’s approach centers on technologies with explicit dual-use potential, a narrower and higher-risk segment.
The fund’s launch raises questions about how quickly it can deploy capital and how specialized its investments will be. With €23.6 million in hand, Nevermind will need to find startups with both technical maturity and clear pathways to customers in both markets—a challenge that could limit its options. Observers will watch whether the fund prioritizes defense-first startups or those with commercial viability and secondary defense applications.
For now, Nevermind joins a small but expanding group of European VCs betting on deeptech’s role in future industrial and security needs.
Sources: tech.eu
“A new early-stage fund focused on dual-use deeptech reflects growing investor interest in technologies that serve both commercial and defense markets.”
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