London-based Connect Ventures has raised $55m in a first close of its fifth fund, with a target of $80m. The fund aims to chase deeptech founders across Europe, building on the firm's track record in technology investments. With 16% annual returns, Connect Ventures continues to focus on innovative startups in the deep technology space.

The first close brings the total committed capital closer to the $80m target, signaling strong investor confidence in the firm's strategy and team.