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Eindhoven-based venture capital fund DeepTechXL raised €110 million from ASML and pension fund PME, reports the Financieele Dagblad. This sum is the first funding round of the VC, located at the HIgh Tech Campus Eindhoven.

DeepTechXL invests in deeptech startups that focus on semiconductors, photonics, and quantum computing domains. Since its establishment, the VC has invested in eight companies, including the neurofeedback company Alphabeats, laser technology developer InPhocal, and healthcare company Gilbert Technologies.

Fostering companies

“DeeptechXL is much more than an investment fund for ASML,” said ASML CEO Peter Wennink. “It is a wonderful example of collaboration between various actors in the Dutch deep tech ecosystem, who have united behind a long-term vision.”

In addition to the money invested by ASML, other parties also joined the funding round. PME’s chairman, Eric Uijen, commented: “We make a good return for a good pension. With our investment in innovative start-ups and scale-ups, we put our participants’ pension money to work threefold.”

With the new cash injection, DeepTechXl will continue supporting deep tech companies. The companies we select operate at the forefront of technology and are working on solutions for major social themes in healthcare, energy transition, cybersecurity, agriculture, and water technology. And that is good for economic growth and employment in the Netherlands,” underlined Teska van Vuren, managing partner of DeepTechXL.