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IQ Capital, a UK-based deep tech fund which has invested in startups such as Paragraf, Senseye and Funderbeam, has launched a new $125 million ‘Growth Opportunities Fund’ and closed its third venture fund, IQ Capital Fund III, at $175 million. This brings the total new capital to be invested to over $300 million. National Grid Partners have joined British Patient Capital and a number of other global institutions, as an investor in IQ Capital Fund III.
The move is part of a wider shift in VC investing across Europe towards so-called deep tech (AI, BioTech, Blockchain etc).For instance, Adara Ventures, a spanish VC firm recently closed its third fund with commitments in excess of €65 million to back European early-stage deep tech startups.
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IQ says the $125 million fund will provide later-stage capital to the best-performing companies in their existing portfolio. The first to benefit from this is Privitar, a startup in data privacy engineering which IQ Capital funded from seed stage, as part of its $40 million Series B funding round announced last month.
Alongside the launch of the new fund, IQ Capital has reached the final closing for its third venture fund at $175 million, which focuses on investing into companies at Seed and Series A stage. In...
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