OTB Ventures, a leading European venture capital firm with Polish roots, recently closed its second investment fund at €170 million.
The investment is backed by the NATO Innovation Fund (NIF) and the European Investment Fund (EIF) under the InvestEU Fund, along with support from CEE entrepreneurs and notable Limited Partners such as Snowflake co-founder Marcin Zukowski and OnDean, the family office of the founders of Relativity.
Established in 2017, OTB Ventures specializes in deep tech investments across four key verticals: space technology, artificial intelligence, fintech infrastructure, and cybersecurity. The firm primarily focuses on late Seed, Series A, and B rounds, providing growth capital to promising startups. With offices in Warsaw and Amsterdam, OTB Ventures has emerged as the largest VC fund originating from Central and Eastern Europe, now managing over €323 million.
The NATO Innovation Fund, which is deploying its €1 billion fund to invest in startups and funds focusing on emerging technologies such as defence tech, AI, quantum computing and biotechnology, has recognized OTB Ventures’ alignment with its mission. NATO representatives have emphasized the importance of the NIF in maintaining NATO’s technological edge amidst evolving security threats, geopolitical risks, and the energy crisis.
OTB Ventures plans to allocate the majority of the new fund to Series A investments with up to 10% reserved for seed funding and more than 50% for follow-on investments. Since its initial close in November 2022, the firm has already made nine investments, including productivity and task mining platform KYP.ai, AI chip producer SEMRON, and space debris removal startup ClearSpace.
The firm recently led the seed funding round for Kurs Orbital, an Italian space startup developing technology for in-space satellite servicing. This investment showcases OTB Ventures’ commitment to supporting the development of dual-use of technologies with both civilian and defense applications.
“Our new fund empowers us to further our mission of supporting disruptive deep tech startups that are leveraging Europe’s outstanding tech talent pool — the biggest natural resource that our continent can offer,” stated Adam Niewinski, co-founder and managing partner of OTB Ventures.
As the European deep tech ecosystem continues to thrive, with nearly $15 billion invested in 2023 and demonstrating resilience compared to other sectors, OTB Ventures is well-positioned to identify and support the most promising startups driving technological advancements across the continent.
With the backing of the NATO Innovation Fund and a growing network of strategic partners, OTB Ventures is poised to play a pivotal role in shaping the future of European deep tech innovation.
