UVC Partners, a Munich-based investor, has secured €77m in its first close for a new growth fund, aiming to reach €150m by summer. This marks a strategic shift toward multi-stage investing, allowing the firm to double down on existing portfolio companies like nuclear startup Proxima Fusion and spacetech firm Isar Aerospace. Managing partner Johannes von Borries emphasized the move addresses a critical “gap in homegrown growth capital” for European deeptech firms, particularly in sectors like robotics and defense.

The fund will deploy initial checks up to €15m and support UVC’s track record of backing high-potential startups. Noteworthy investments include quantum computing pioneer Planqc and mobility leader Flix. Von Borries highlighted robotics as a key focus area, noting interest in “defensible industrial capabilities beyond humanoid hype.” With UVC’s first fund returning 2x to investors and its second fund recouping half of commitments, the firm’s experience positions it to scale further. Plans for a future €500m-€1bn multi-stage fund signal long-term confidence in Europe’s deeptech ecosystem.

The initiative aligns with broader European efforts to bolster growth capital. German defense investor DTCP recently launched a €500m defense fund, while the European Commission’s impending Scaleup Europe Fund (€5bn) aims to accelerate startup growth. UVC’s strategy reflects growing geopolitical urgency around securing balanced capital stacks for sensitive sectors like dual-use tech. “We don’t want to rely solely on US capital,” von Borries stated, stressing the need for diversified financing in critical industries.

UVC’s €77m raise underscores investor appetite for European deeptech ventures amid maturing markets. By targeting growth-stage companies and expanding its multi-stage approach, the firm aims to bridge funding gaps and support startups through later-stage development—a critical step for scaling innovations in robotics, climate tech, and beyond.