Future Tech Ventures (FTV), a new venture capital firm focusing on startups in the Northern Netherlands, officially launched yesterday in Groningen.
FTV debuted with a €20mn fund that will support at least 50 high-tech startups in the proof-of-concept phase. The investment period is set between 2024 and 2029.
“Startups are often in a very early phase where funding is difficult to secure, and there are significant risks related to technology, market, and team,” Niek Huizenga, fund manager at FTV, said in a statement.
For this reason, the VC firm is also offering business support, networking opportunities, and guidance.
The fund was created through the joint effort of local ecosystem players Triade, RUG Ventures, NV NOM, and Investeringsfonds Groningen.
The 💜 of EU tech
The latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!
“Future Tech Ventures is the result of years of collaboration between experienced parties in the Northern Netherlands,” said Edward van der Meer, director of Triade.
“By bringing together the strengths of [these partners] we can better support startups and position the region as a hotspot for high-tech innovation.”
North Holland (which includes Amsterdam), South Holland, and North Brabant represent the largest startup clusters in the Netherlands. In 2023, they attracted 85% of the total Dutch VC investment.
But efforts to strengthen the startup hubs across the entire country are increasing.
Future Tech Ventures was launched yesterday alongside Founded in the North, which aims to support founders and connect the local ecosystem in Groningen, Friesland, and Drenthe.
Get the TNW newsletter
Get the most important tech news in your inbox each week.