Noctua Science Ventures has completed a first closing at €15 million for its Pre-Seed fund. The fund backs research-based deeptech spin-offs from Austrian universities and research institutions. Investors include Erste Group, Verbund, and Allocator One.
Who is behind the fund
The vehicle began as a joint venture between Speedinvest and TU Wien. It has since added TU Graz, Montanuniversität Leoben, BOKU, and Johannes Kepler University Linz as partners. Austria Wirtschaftsservice also participated as an investor.
Investment plans
Noctua plans to make up to 10 investments each year. It can commit up to €500,000 per spin-off as lead investor in the first financing round. The fund is technology agnostic and open to spin-offs outside its shareholder group.
Early deals and target volume
The fund has already completed several investments since the first closing. Two known portfolio companies are Turn-Motion from Vienna and DiLT Analytics from Graz. Noctua is targeting a total fund volume of up to €25 million.
The fund will admit further investors on a selective basis over the coming months. It plans to support up to 40 spin-offs overall. It also helps founders with tech transfer and IP strategy from an early stage.