French-Italian venture firm 360 Capital has secured €85 million in first close for a new deeptech fund targeting university spinouts and deep technology startups. The firm aims to reach a €100 million final close by the end of 2026, with backing from European defense primes.

This latest fund represents a significant push into deep technology, an area where Europe has struggled to keep pace with U.S. and Asian competitors. The focus on university spinouts suggests 360 Capital is betting on academic research commercialization as a growth driver. The involvement of European defense primes indicates strong government and strategic investor interest in dual-use technologies.

The timing aligns with increased European investment in strategic technologies, particularly in defense and advanced manufacturing sectors. By targeting university spinouts, 360 Capital positions itself to capture innovations emerging from European research institutions while potentially addressing the continent's technology sovereignty concerns.