German VC First Momentum Ventures, a pre-seed investor focused on B2B tech and deeptech founders, has closed its €35 million Fund II to support early-stage tech startups across Europe. The new fund is backed by family offices, industrial corporates, public institutions, and several fund of funds.
- Founded in 2018 by Sebastian Böhmer and Andreas Fischer, First Momentum Ventures is a venture capital firm focused on pre-seed B2B, industrial tech, and deeptech startups.
- To date, the firm has built a portfolio of 50 startups, including Daedalus, ContextSDK, SDA, Ninetailed, and Atlas Bio.
- With this new capital, the firm plans to invest in up to 35 early-stage B2B startups, writing first cheques ranging from €200,000 to €1 million across sectors such as AI, computing, energy, automation, novel materials, and industrial tech.
- The fresh fund has already backed 20 startups, including:
- Octomind: Based in the US and Germany, developing machine learning-powered autonomous software testing.
- Brineworks: Based in Amsterdam, working on ocean-based carbon removal.
- Quantum Diamonds: Based in Munich, creating quantum sensors for semiconductor manufacturing.
"This isn’t just another fund close. It’s a commitment to the builders working in the background. The next era of European innovation is being written in code, lab notebooks, and machine rooms — and we’re here for it," First Momentum Ventures' team, commented on LinkedIn.
- The firm has also established a Venture Scout network with over 100 Scouts across European universities and research hubs, aiding in the identification of promising startups.
- Through Fund II, First Momentum Ventures is deepening its commitment to accelerating the European Deep Tech ecosystem with initiatives like:
- The Deep Tech Hardware Napkin, a guide for founders on their fundraising journey.
- The Spinoff Summit, Europe’s platform for early-stage academic entrepreneurship.
- A PhD Fellowship program, fostering technical talent in entrepreneurship and venture capital.
