Fund Fact Sheet

Size:  The Amadeus APEX Technology Fund is a partnership between Amadeus Capital Partners and APEX Ventures. Launched in 2023, it is a €80m fund that invests in early-stage Deep Tech startups. 

Focus: Artificial intelligence and machine learning, quantum technologies and photonics, mobility and space innovation, autonomous systems and robotics, and other emerging deep tech areas. The fund is committed to investments that not only have a strong technological foundation but also demonstrate the potential for substantial market impact.

Geography: DACH and neighboring countries

Maturity/stage: Late Seed and Series A

Ticket size: Our initial checks tend to be at €1m – €1.5m

Potential lead: Yes

Follow on: Yes

About Apex Ventures

How would you describe Apex Ventures and your investment thesis/guiding principles in one sentence?

Our investment thesis at APEX Ventures is centered around identifying and supporting visionary founders driven by a commitment to uncovering and nurturing breakthrough technologies that promise significant societal impact.

Can you tell us a bit about yourself, and the key partners/experts in the team?

At the Amadeus APEX Technology Fund, we pride ourselves on our exceptionally age and gender-diverse team, boasting significant expertise in the core areas of deep tech. Leading the charge are our key partners: Wolfgang Neubert, with his rich investment history in photonics, AR/VR, and quantum technologies; Andreas Riegler, previously a founder (exit) and executive with a passion for space technology and AI; Anne Glover, a venture capital veteran with over three decades of experience and a profound commitment to transforming groundbreaking ideas into successful enterprises; and Hermann Hauser, whose entrepreneurial spirit and track record in founding and funding companies have made him a well-known entity in the tech investment world.

Supplementing this leadership are our principals,  Ion Hauer, a quantum physics PhD with a knack for bridging technological innovation with financial strategy, and Diana Röttger, whose expertise in medical imaging and computer vision is shaping the future of medical technology. Together, this team invests in startups and offers deep technical guidance, strategic networking, and a supportive ear to founders navigating the challenges of entrepreneurship. Supporting our investment team is Tim Hos, an Associate at APEX Ventures, who brings additional expertise and support, ensuring our portfolio companies have access to a broad spectrum of deep tech insights and resources.

Our investment team benefits from access to a wide network of experts covering numerous areas of deep tech within both Amadeus Capital Partners and APEX Ventures.

Why do you think now is the right moment to launch this fund?

The pace of technological breakthroughs is accelerating, presenting unprecedented opportunities in the deep tech sector. Recent years have demonstrated deep tech’s critical role in responding to global crises, from medical breakthroughs to sustainable technologies. With the Amadeus APEX Technology Fund, we aim to leverage this momentum, focusing on early-stage startups that are at the forefront of addressing critical challenges in AI, quantum computing, space, medicine, and beyond. This period of rapid innovation, combined with the unique expertise of our partnership, makes it an ideal time to support ventures capable of delivering transformative solutions. Also, given the current global challenges—from climate change to healthcare—there’s an urgent need for innovative solutions.

What is your unfair advantage? What do you bring besides money?

Our unfair advantage, as echoed by the numerous founders we’ve invested in, lies in our profound technical understanding and our commitment to being more than just financiers. These founders often tell us how they’re impressed not only with our grasp of the intricate details of their technologies but also with the depth of our involvement and support. This is further amplified by the fact that in the partnership between APEX Ventures and Amadeus Capital Partners, we have access to subject matter experts in many areas, including AI, space, quantum tech, life science, and more.

Being a founder can be an isolating journey, filled with the constant challenges of motivating a team and maintaining investor confidence through tough times. We strive to transcend the traditional investor role to be invaluable advisors and sounding boards. Our goal is to actively guide and assist our founders, providing them with the insights and encouragement needed to navigate the complex path of building and scaling their ventures.

Portfolio

What do you look for in entrepreneurs? / What will convince you to invest in a company?

Especially in Deep Tech, the strength of the founding team, in terms of technical expertise, is paramount. We look for teams with groundbreaking scientific or technological ideas and the capability to execute them. Moreover, we look for founders with a deep passion for their work and a clear purpose that drives them. Their dedication to making a significant impact in the world is crucial. This intrinsic motivation often translates into the resilience and perseverance needed to navigate the challenges of building a deep tech startup. We value founders who can compellingly attract top talent and secure capital. This blend of persuasive leadership and strategic resource mobilization is crucial for scaling and succeeding in the deep tech sector.

Can you give examples of companies you previously invested in and why?

We especially like opportunities that sit at the cross-section of multiple groundbreaking developments across different fields. Examples in our portfolio include OroraTech (AI and Space Tech to address the climate crisis), Yuri and ATMOS (Space Tech and BioTech to develop new compounds using the microgravity properties of space), planqc (neutral atom quantum computer recently announced improved climate models using innovative quantum machine learning techniques) and UniSieve (addressed 10-15% of the world’s electricity consumption with a novel membrane for gas separation).

Advice for Deep Tech Founders

What is the best way for founders to approach you and what will convince you to have a first meeting?

Leverage warm introductions and engage with us over time. A recommendation from a mutual contact within our network significantly increases the likelihood of securing a first meeting, as trust and credibility are often transferred through these warm introductions. Furthermore, don’t wait until you are fundraising to reach out. Keep us informed of your progress and milestones through periodic updates or a newsletter. This approach keeps your venture in mind and allows us to observe your growth trajectory and resilience over time. It’s not uncommon for us to work with founders for months or even years before deciding to invest. This ongoing dialogue helps build a relationship and understanding that goes beyond a mere transaction, laying the foundation for a strong partnership.

What is one piece of advice you would give deep tech founders? 

Stay relentlessly focused on the problem you’re solving. In the world of deep tech, it’s easy to get caught up in the potential of the technology itself. However, the most successful founders keep their eyes on the real-world application and the problem they aim to solve. This focus ensures that the technology develops in a way that is truly impactful and meets the needs of those it’s intended to serve. Build a team that complements your skills and shares your vision. Deep tech projects require diverse expertise, from scientific knowledge to business acumen. As a founder, it’s crucial to surround yourself with individuals who not only bring the necessary skills to the table but also share your commitment to the venture’s goals

Limited Partners

Who are your LPs and how did you convince them to invest their money in deep tech?

Our LP base is diverse, encompassing institutional LPs such as governments, insurance companies, and pension funds, alongside a broad spectrum of European family offices and corporates who view us as a key technology and innovation scout. Annually, we screen between 1000-1200 startup leads, granting us a comprehensive overview of the European deep tech ecosystem and enabling us to identify early emerging technology trends that could impact our LPs significantly.

We take particular pride in having many successful founders among our LPs, who are not only investors but also keen contributors to the innovation ecosystem in Europe, eager to support and give back. 

Regarding the ease of raising a deep tech fund, “easy” may not be the exact term, but we’ve been fortunate. With the current economic downturn, deep tech has emerged as a preferred investment area, recognized for its balanced risk/reward profile. Deep tech companies, characterized by significant intellectual property and substantial technology, have shown remarkable resilience during these times. This resilience has attracted interest from many generalist VCs. However, they often find themselves navigating without the years of expertise and deep technological understanding that we bring to the table.

LPs recognize the unique value proposition of deep tech ventures, not only for their potential financial returns but also for their profound societal impact. This understanding has led them to increasingly view deep tech venture capital as a crucial component of their alternative asset allocation.

Future Deep Tech Trends & Breakthroughs

What do you think will be the next big thing in deep tech? 

We believe that the future of deep tech doesn’t hinge on a single ‘next big thing’ but rather on the convergence of multiple groundbreaking developments across different fields, such as the intersection of space technology and biotechnology, the integration of AI and semiconductors, or the application of quantum computing and helping climate science. Recognizing this, we have launched a broad-based deep tech fund that is not confined to one specific area of focus or boxes of verticals. This approach allows us the flexibility to explore and invest in the dynamic intersections of emerging technologies, steering clear of the pitfalls of chasing after the latest hype and instead uncovering genuinely transformative opportunities at the nexus of these converging innovations.