What PhotonVentures does

PhotonVentures is a Netherlands-based deep tech venture capital firm founded in 2023 and headquartered in Hilversum, exclusively focused on integrated photonics. As a spin-off and strategic partner of PhotonDelta — the European hub for wafer-scale photonics — the firm operates a single investment vehicle, Fund I, targeting a €100 million final close (€75 million raised as of April 2024, with Invest-NL contributing €5 million in October 2024). PhotonVentures invests €1–2.5 million per company in Seed to Series A rounds across application areas including AI data centers, quantum computing, augmented reality, medical/healthcare sensing, and engineering/transport sensing. Its portfolio of 16–20 companies spans the photonics value chain: Indium Phosphide foundries (SMART Photonics, LioniX), transceiver and interconnect companies (Arycs, Astrape, NcodiN), quantum computing (QuiX Quantum), AR display technology (Brilliance, Vitrealab), biosensing (Delta Life Science, Surfix, MantiSpectra), LiDAR (Scantinel), optical AI accelerators (Lumai), and assembly/alignment specialists (Phix, MicroAlign).

The firm's competitive differentiation is anchored in its ecosystem-based funding model, which promotes mutual use of technological and infrastructural resources across PhotonDelta's network of 60+ partner companies, universities, and research institutes. This positioning gives PhotonVentures privileged deal flow into European university spin-offs and deep-tech ventures and reduces portfolio-company development costs via shared resources. The general partners — Ewit Roos (former PhotonDelta CEO), Rijkman Groenink (former ABN AMRO CEO), Pieter Klinkert (ex-Oost NL/PhotonDelta, 20+ years VC experience), and Joachim de Sterke (PhotonDelta co-founder) — combine photonic-ecosystem leadership with institutional banking and venture execution experience, supported by a Principal and two Investment Associates.

PhotonVentures generates revenue through conventional fund-management economics: management fees on committed capital (approximately 2% of the €75–100M fund annually) and carried interest on portfolio exits. The fund is structured as an SFDR Article 8 vehicle with formal ESG/sustainability disclosures, marketed primarily to institutional LPs (Invest-NL, BOM, Oost NL, TNO, University of Twente) and family offices. Deal sourcing is ecosystem-driven through PhotonDelta and partner networks, with go-to-market centered on direct engagement with founders, researchers, and co-investors rather than traditional sales channels.

Name

PhotonVentures

Legal name

PhotonVentures Fund Management B.V.

Website

https://photonventures.vc

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

PhotonVentures is a Netherlands-based deep tech VC firm exclusively focused on integrated photonics, investing €1–2.5M in Seed-to-Series A rounds via its €100M Fund I. As a PhotonDelta spin-off, it backs 16+ European photonics startups spanning AI, quantum, AR, and sensing.

Ownership category

akta.pro rank

Product category

Deep Tech Venture Capital

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Deep tech venture capital
• Photonics venture capital
• Integrated photonics investing
• Venture capital fund management
• Seed to series A funding

Headquarters

HQ city

Eindhoven

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Venture Capital Fund Management: PhotonVentures generates returns through management fees on its managed fund assets and carried interest (carry) on successful exits of portfolio companies. The fund targets returns through equity stakes in Seed to Series A stage integrated photonics companies.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

PhotonVentures is a deep tech venture capital firm exclusively focused on wafer-scale photonics, deploying Fund I capital (target €100M) of €1–2.5 million tickets into European photonics companies from Seed to Series A. As a spin-off and strategic partner of PhotonDelta, the firm pairs capital deployment with hands-on operational support, ecosystem connectivity, and access to international partners, customers, and industry leaders across Europe's integrated photonics value chain.

Product overview

PhotonVentures is a deep tech venture capital firm operating as a single unified investment fund (Fund I) focused exclusively on wafer-scale photonics. The firm provides investment capital, hands-on operational support, and ecosystem connectivity to a portfolio of 21 photonics companies spanning multiple application segments. Fund I targets €100 million (currently at €75 million close) to invest €1-2.5 million per company from Seed through Series A stages. The investment strategy is ecosystem-based, promoting mutual use of technological and infrastructural resources among portfolio companies to accelerate time to market. Portfolio companies cover integrated photonic solutions across Data & Telecom, Medical & Healthcare, Engineering & Transport, Quantum Computing, and AI applications, with the fund leveraging its strategic partnership with PhotonDelta for deep industry expertise and network access.

Differentiator

Problem solved

Functional benefit

Products and services

• PhotonVentures Fund I Deep tech venture capital fund focused exclusively on wafer-scale photonics, deploying €1–2.5 million initial tickets into Seed to Series A integrated photonics companies in Europe. Targeted final fund size €100 million. Available as a limited partnership investment for institutional, governmental, and strategic LPs.
• Investment Services

Quantifiable outcome

• Fund I targeting €100 million final close
• +2 more outcomes

Named customers7 records

Segments2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core and notable.

• Vitrealab GmbHcoreStrategic or Co-development Partner · 18 September 2025PhotonVentures portfolio companies Vitrealab (Vienna) and Brilliance (Enschede) announced a strategic cooperation to integrate Brilliance's RGB laserchip Neptune into Vitrealab's Quantum Light Chip. The collaboration aims to create more compact, efficient, and high-performance LCoS-based display systems for next-generation AR smart glasses, with joint R&D, prototype demonstrations, and coordinated commercialization efforts.
• PhotonDeltacoreStrategic or Co-development PartnerPhotonVentures is a spin-off and strategic partner of PhotonDelta, the European hub for wafer-scale photonics. PhotonDelta drove the growth of the Dutch wafer-scale photonics industry, secured €1.1B in public funds from the Dutch National Growth Fund, and catalyzed more than €1.1 billion in follow-on public investment. This partnership provides PhotonVentures with unparalleled in-house expertise, industry connectivity, and ecosystem access across more than 60 partner companies.
• MicroVisionnotableStrategic or Co-development PartnerMicroVision agreed to acquire the FMCW LiDAR business and assets of Scantinel Photonics GmbH (a PhotonVentures portfolio company), collaborating with PhotonVentures and PhotonDelta as strategic partners to accelerate productization of the technology.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Anzu Partners: Anzu Partners is a US-based venture capital firm investing in early-stage deep-tech companies across industrial, life sciences, and dual-use technologies including photonics-adjacent semiconductor and sensing applications. While broader in scope than PhotonVentures, it pursues a similar sector-specialist deep-tech investment thesis.
• Lux Capital: Lux Capital is a US venture firm investing in frontier-technology startups spanning photonics, quantum computing, semiconductors, AI infrastructure, and advanced computing hardware. While not vertically specialist like PhotonVentures, it overlaps significantly in funding optical computing, quantum, and deep-tech photonic startups at similar stages.
• DCVC (Data Collective): DCVC is a US deep-tech venture firm investing in computational technologies including AI infrastructure, semiconductors, photonics, and quantum computing. While broader in mandate, it shares PhotonVentures' focus on deep-tech infrastructure enabling companies at similar stages.

Direct peers

• FORWARD.one: FORWARD.one is an Amsterdam-based deep-tech VC investing in industrial high-tech, robotics, semiconductors, and photonics across Europe. It has co-invested with PhotonVentures in QuiX Quantum and shares the European deep-tech photonics thesis at Seed-to-Series A stage with similar ticket sizes.
• MIG Capital: MIG Capital is a Munich-based venture capital firm with €770M+ AUM investing in deep-tech and life sciences across Europe. It co-led NcodiN's €16M seed with PhotonVentures, sharing the European deep-tech infrastructure thesis and similar early-stage ticket sizes.
• Innovation Industries: Innovation Industries is a Dutch deep-tech VC investing in hightech, medtech, and cleantech startups across the Netherlands and Europe. It shares PhotonVentures' regional Dutch deep-tech ecosystem focus and similar early-stage investment size and stage focus.
• IQ Capital: IQ Capital is a Cambridge-based deep-tech VC investing across AI, photonics, quantum, and advanced engineering in the UK and Europe. It shares the European deep-tech vertical specialist model and invests at comparable Seed-to-Series A stages in photonics-enabled startups.

Emerging players

• Quantonation: Quantonation is a Paris-based early-stage VC exclusively focused on quantum technologies, including photonic quantum computing. While narrower (quantum-only) than PhotonVentures, it overlaps in funding photonic quantum startups like QuiX Quantum and shares the deep-tech vertical specialist model.
• Brick & Mortar Ventures: Brick & Mortar Ventures is a US seed-stage VC focused on construction-tech and built-world technology, including photonic-enabled sensing and computer-vision applications. It overlaps with PhotonVentures in early-stage deep-tech photonic sensing investments but with a narrower built-environment focus.

Others

• PhotonDelta: PhotonDelta is a Dutch non-profit/strategic investor that secured €1.1B from the Dutch National Growth Fund to grow the wafer-scale photonics ecosystem. It is the parent/spin-out partner of PhotonVentures rather than a direct competitor, providing deal flow and ecosystem coordination rather than competing for the same investments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments10 records

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

Frequently asked questions about PhotonVentures