Faber launches €60 million fund for deep tech

The Portuguese venture capital company Faber has launched its third fund with €60 million to invest in deep tech.

Based in Lisbon, Faber has already made three initial investments in companies in Portugal, Spain and the Netherlands that develop cutting edge technology in areas such as photonic chips, analogue chip design and biolo.

Since 2013 Faber has clocked up over six dozen investments with some successful “exits” along the way in global technology companies helping them to be game changers in their respective industries, particularly in ventures in software companies focused on data in their initial phases but with the potential to scale.

Faber has invested in companies such as Sword Health, Unbabel, Codacy, Smartex, Mitiga, Luminate Medical and Abtrace.

This year it has made three new investments in the US startup Opnova, Spain’s Poseidona and the Netherland’s Resoniks.

This third new investment fund called Faber Tech III had an initial amount of €31 million but with additional commitments that figure rose to €40 million with a goal of bringing in €60,000 to invest in deep technology companies.

Deep tech is a generic term for technologies including artificial intelligence, robotics, blockchain, biotech, and quantum computing, that are not focused on end-user services. Deep tech draws together three approaches—advanced science, engineering, and design—to master problem complexity.