NRW.BANK invests EUR 10 million in second neoteq ventures fund

NRW.BANK invests EUR 10 million in the second fund of Cologne-based venture capital investor neoteq ventures. The fund has already raised more than EUR 25 million in the first closing. Other anchor investors include Kreissparkasse Köln and Sparkasse KölnBonn.

The new fund is intended to further expand the financing of technology-oriented start-ups from the Rhineland in particular.

Focus on early-stage start-ups and AI-driven business models

The second neoteq ventures fund is based on the same strategy as the first fund generation. It invests primarily in young techs from pre-seed to Series A in the early stages. The fund pursues a technology-neutral approach. The focus is particularly on business models that can react flexibly to developments in artificial intelligence and rapid market changes.

With AI, we are currently experiencing how quickly it is possible to fundamentally change entire industries

B.J. Park, Founding Partner neoteq

According to B.J. Park, AI is currently creating enormous opportunities for new technology companies. Together with Simon Schneider, he is once again responsible for fund management. According to the company, both have more than 25 years of experience in the venture capital market and are internationally networked in the start-up scene.

Rhineland remains central focus

The first neoteq ventures fund already invested heavily in companies from the region. Around 80 percent of the 17 portfolio companies to date come from the Rhineland.

The investments include Jumingo, Detechgene, Innovative Robot Delivery and OMMM.

With the new fund, neoteq ventures aims to support further young technology companies in their development and scaling.

Target volume is 50 million euros

The fund is to be closed by April 2027. Further investors can join by spring next year. The target is a total volume of around 50 million euros.

Technology-oriented start-ups develop solutions for tomorrow - we support them with capital, experience and a strong network

Johanna Antonie Tjaden-Schulte, Member of the Managing Board of NRW.BANK

In addition to institutional investors, corporates, family offices and private investors also participate in the fund. The high proportion of existing investors is seen by neoteq ventures as a sign of confidence in the development and investment approach to date.

NRW.BANK further expands its involvement in the VC market

The investment strengthens NRW.BANK's commitment to regional venture capital funds. The aim of the development bank is to provide young companies in North Rhine-Westphalia with better access to early-stage capital and at the same time to mobilize private investors for the market. Managing Board member Johanna Antonie Tjaden-Schulte emphasizes that technology-oriented start-ups develop key solutions for future challenges and should therefore receive targeted support in the form of capital, experience and networks.