What Innovation Industries does

Innovation Industries is a Netherlands-based venture capital firm founded in 2017 that specializes in deep technology investments across three verticals: Industrial Tech (semiconductors, photonics, AI/ML, mechatronics, advanced materials, quantum computing, high-precision engineering), Med Tech (robotic devices, diagnostics, medical equipment, regenerative medicine, neurostimulation, synthetic biology), and Food & Agri Tech (genetics, microbiome, crop protection, agricultural robotics). The firm operates multiple fund vehicles including the main deep tech fund (up to €150M per company across stages), Early Stars Fund I (€1.5-2M tickets for un-funded Dutch companies), the Smart Industries TTT and Medtech TTT programs (convertible loans up to €250K to spin-offs from TNO, the four Dutch technical universities, and university medical centers), and the 2024-vintage €100M Strategic Partners Fund for follow-on capital into existing portfolio companies. As of 2024, the firm manages over €1Bn in assets, holds 24 portfolio companies, and has closed more than 75 funding rounds, with cumulative FTEs across the portfolio exceeding 800.

The firm's revenue model is standard for a venture capital manager: recurring management fees on committed and invested AUM across its fund vehicles, supplemented by carried interest (performance fees) realized on profitable exits such as the sale of The Akkermansia Company to Danone in June 2025. Its go-to-market combines direct outreach to founders with a structurally embedded origination channel — the Smart Industries TTT and Medtech TTT consortia — which gives the firm exclusive or preferred access to early-stage spin-offs from the Netherlands' primary applied research institutions (TNO, TU Delft, TU/e, TU Twente, WUR, Erasmus MC, RadboudUMC, Maastricht UMC). The LP base is anchored by Dutch institutional capital, with the €500M Fund III (closed May 2024, oversubscribed) backed primarily by pension funds (PME, PMT, ABP, bpfBOUW, Pensioenfonds KPN, TNO Pensioenfonds) alongside commercial banks (ABN AMRO, Rabobank, Athora Netherlands), regional development agencies (Invest-NL, Oost NL, BOM, InnovationQuarter, Brabantse Ontwikkelingsmaatschappij), and EU-level institutions (European Investment Fund, KfW Capital, Wachstumsfonds). The firm operates from offices in Amsterdam (HQ), Eindhoven (High Tech Campus), and Munich.

Name

Innovation Industries

Legal name

Innovation Industries Operations B.V.

Website

https://innovationindustries.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Innovation Industries is a Netherlands-based deep tech venture capital firm founded in 2017, managing over €1Bn across multiple fund vehicles to invest in Industrial Tech, Med Tech, and Food & Agri Tech startups across Europe, with privileged deal flow from Dutch research institutions via its TTT consortia.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Deep tech venture capital
• Industrial tech investing
• Med tech investing
• Agri tech investing
• Technology transfer funds

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management: Innovation Industries generates revenue through management fees on theirAssets Under Management (AUM) and carried interest (performance fees) from successful fund investments. The fund raised €500 million for their third fund and €100 million for the Strategic Partners Fund, bringing total raised capital to €600 million in 2024.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Innovation Industries is a European deep tech venture capital fund that invests capital across all stages (pre-seed through growth) in Industrial Tech, Med Tech, and Food & Agri Tech companies based primarily in the Netherlands and Germany. It manages multiple funds (Main Fund, Early Stars Fund I, Smart Industries TTT, Medtech TTT, Strategic Partners Fund) with ticket sizes ranging from €250K convertible loans up to €50M per company, and a total deployed capacity of up to €150M per portfolio company.

Product overview

Innovation Industries operates as a deep tech venture capital fund with €1 billion in Assets under Management, offering multiple investment vehicles including the main fund (up to €150M per company), Early Stars Fund I for early-stage Dutch companies (€1.5-2M tickets), Smart Industries and Medtech Thematic Technology Transfer programs (up to €250K convertible loans), and the Strategic Partners Fund for portfolio scale-ups. The fund focuses on Industrial Tech (semiconductors, AI, photonics, quantum computing), Med-Tech (robotic devices, diagnostics, neurostimulation), and Food & Agri-Tech sectors across Europe, particularly the Netherlands and Germany.

Differentiator

Problem solved

Functional benefit

Products and services

• Innovation Industries Main Fund
• Early Stars Fund I
• Smart Industries TTT (Thematic Technology Transfer)
• Medtech TTT
• Strategic Partners Fund

Quantifiable outcome

• Over 75 funding rounds successfully closed across portfolio
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability12 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• TNO (Netherlands Organisation for Applied Scientific Research)coreStrategic or Co-development PartnerTNO is a key strategic partner through the Smart Industries TTT consortium, enabling Innovation Industries to access early-stage deep tech spin-offs from applied research. TNO Ventures also co-invests in portfolio companies.
• Dutch Technical Universities (TU Delft, TU/e, TU Twente, WUR)coreStrategic or Co-development PartnerPartnership with four Dutch technical universities through Smart Industries TTT and Medtech TTT programs, providing exclusive access to technology transfer office spin-offs and research-based startup opportunities.
• Medical Centers (Erasmus MC, RadboudUMC, Maastricht UMC)coreStrategic or Co-development PartnerMedtech TTT consortium partners enabling access to medical technology spin-offs from leading Dutch university medical centers.
• NVP (Nederlandse Vereniging van Participatiemaatschappijen)minorOthersMember of the Dutch Private Equity and Venture Capital Association, participating in industry standards and networking.
• UNPRI (United Nations Principles for Responsible Investment)coreStrategic or Co-development PartnerSignatory since 2019, demonstrating commitment to responsible investment practices and ESG integration in portfolio management.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• High-Tech Gründerfonds (HTGF): Germany-based deep tech early-stage VC backed by public-private partnership (similar LP structure to Innovation Industries, including KfW Capital). Directly comparable as a European deep tech investor with strong ties to German research institutions, providing early ticket sizes in similar ranges to Innovation Industries' Early Stars Fund I.
• Earlybird Venture Capital: One of Europe's longest-standing deep tech and enterprise VCs with comparable fund sizes and German/Nordic orientation. Closely comparable in sector focus (industrial tech, health) and stage (early to growth), and a frequent co-investor in European deep tech rounds alongside Innovation Industries.
• Speedinvest: Vienna-based European deep tech VC with multiple sector-focused funds (industrial, health, deep tech). Highly comparable operating model with thematic fund structures, multi-stage investments, and Continental European geographic focus overlapping Innovation Industries' DACH and Benelux footprint.
• Sofinnova Partners: Paris-headquartered European deep tech and life sciences VC. Highly comparable in life sciences/medtech thesis with similar early-to-growth stage investing, providing a direct comparable for Innovation Industries' Med Tech fund positioning and pan-European reach.
• Forbion: European life sciences VC headquartered in the Netherlands. Strong overlap with Innovation Industries' Med Tech vertical, including therapeutic devices, diagnostics, and digital health. The most direct Dutch-based peer for medical technology thesis investing with comparable check sizes.
• Capricorn Partners: Belgian deep tech and cleantech VC with the Capricorn Digital Growth Fund and QUEST cleantech fund. Comparable Belgian/German regional focus, similar early-to-growth ticket sizes, and parallel thesis on industrial tech and sustainability investing — making it a regional direct peer in the Benelux ecosystem.

Broad incumbents

• Index Ventures: One of Europe's largest generalist VCs with deep tech exposure through its multi-billion dollar funds. Operates across broader geographies and stages than Innovation Industries but increasingly competes for the same high-quality European deep tech rounds, including semicon and AI infrastructure.
• Atomico: London-based European tech VC founded by Skype's Niklas Zennström with multi-billion dollar funds. Functions as a broad incumbent overlapping with Innovation Industries' growth-stage tech thesis and increasingly active in deep tech opportunities across the same geographies.
• Lakestar: Berlin-based European tech VC with a multi-fund platform spanning early to growth stages. Compares as a broad incumbent that overlaps with Innovation Industries' deep tech focus (semicon, AI) and shares the DACH geographic anchor.

Regional players

• Salica Investments: UK-headquartered growth investor with a dedicated deep tech/Enterprise vertical and pan-European remit. Comparable to Innovation Industries in growth-stage deep tech deployment, particularly in industrial and health technology, though with a different primary geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/innovationindustries

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments80 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovation Industries