KPN Ventures invests in Belgian early-stage technology investment fund
KPN Ventures has invested in imec.xpand, a technology investment fund focused on commercializing technological innovations spun-off or (co-)developed at Leuven, Belgium-based imec, a leading research institute in the field of nanoelectronics and ICT-technology.
The fund aims to fund companies developing technical innovations amongst other related to semiconductors, sensoring, AI, life sciences and digital technology platforms applicable to various business domains enabling “smart” cities, -mobility, -industry, -health and -energy developments.
Since its launch in 2017, the fund has attracted renowned strategic and institutional investors including: Samsung Electronics, BNP Paribas Fortis, Applied Materials and Philips. The final close, with KPN Ventures joining as one of four new investors, has brought the total fund size to €117 million from €97 million earlier this year.
This is KPN Ventures’ third investment in a tech-transfer fund, which focuses on early-stage financing of commercial spin-offs from university research centers. Previously, KPN Ventures invested in Enschede-based Cottonwood Technology Fund and Paris-based PSL Innovation Fund. Investments in tech-transfer funds help expand KPN’s network of potential innovative technology partners.
The full press release can be accessed here.