Observed Signal · Oct 19, 2026 · Funding · Source: EU-Startups (European Venture) · Impact: 2/5 · Sentiment: Positive
Turbine Capital closes €54 million DeepTech fund
Swedish venture capital firm Turbine Capital has announced the final close of its first fund at €54 million (SEK 608 million). The fund focuses on early-stage DeepTech companies in the Nordics. New investor Mycronic, a high-tech company in electronics production equipment, joins existing industrial investors Saab, Scania, Volvo Cars, and Stena. Institutional investors include Saminvest and the European Investment Fund (EIF). The fund aims to connect Nordic startups with industrial partners, providing capital, expertise, and customers. Since its first close in April 2025, Turbine Capital has collaborated with seven university-affiliated incubators and built a cross-sector industrial network. The final close follows other European VC fund announcements in 2026, together representing approximately €393 million in reported fund capital.
This news marks the closing of a new European DeepTech fund, which is relevant to the startup and investment ecosystem but not directly to AdTech or MarTech.
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Key Takeaways & Evidence Grounding
- Turbine Capital announced the final close of its first fund at €54 million (SEK 608 million).
- Mycronic joined as a new industrial investor alongside Saab, Scania, Volvo Cars, and Stena.
- Institutional investors include Saminvest and the European Investment Fund (EIF).
- The fund focuses on early-stage DeepTech companies in the Nordics.
- Mycronic brings expertise in semiconductor technology, photonics, and advanced manufacturing.
Connected Companies & Entities
2 Entities mapped“Mycronic joins the fund alongside Saab, Scania, Volvo Cars and Stena.”
“Institutional investors in the fund include Saminvest and the European Investment Fund (EIF).”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Seed Capital closes €130M Fund V for Nordic startups
Copenhagen-based seed investor Seed Capital announced the closing of its fifth fund at €130 million, targeting 15-17 companies with first checks of €3-6 million in FinTech, cybersecurity, resilience, and AI-driven B2B sectors. The fund will expand beyond Denmark into the Nordics, with a strategic focus on Sweden. The firm also announced leadership changes: Christian Brøndum, former CEO of Planday, steps in as Managing Partner, and Geeta Schmidt, former CEO and co-founder of Humio, joins as General Partner. Seed Capital has already made initial investments from Fund V in Fortiv, Moxso, Repodo, and Oplane. The firm plans to evaluate opening a Swedish office to strengthen its close-to-founders approach. Its portfolio includes notable companies like Trustpilot, Flatpay, and Lunar.
Copenhagen VC PSV Tech closes Fund II at €56 million
Copenhagen-based venture capital firm PSV Tech has announced the final close of its second fund, PSV Tech Fund II, at €56 million. The fund is dedicated to backing early-stage tech startups across the Nordics, often as a first institutional investor. The close builds on the success of Fund I, which made 47 investments, including portfolio companies Teton and Spektr that later raised €17 million Series A rounds. New investors in Fund II include Chr. Augustinus Fabrikker and Nordea-fonden, joining existing LPs such as ATP, EIFO, IDA, and prominent founders. PSV Tech has already made 19 investments from Fund II, with 11 in 2026 across Denmark, Sweden, and Norway. The firm is led by four General Partners and focuses on supporting Nordic founders before they achieve product-market fit.
Nauta closes €60M first close for sixth fund
Nauta, a London-based pan-European VC, announced the first close of its sixth fund at €60 million. The British Business Bank anchored the fund with a €30 million commitment, marking its fourth consecutive participation in a Nauta fund. Other LPs include SETT, Merifin Capital, and Institut Català de Finances. The fund targets a total size between €150 million and €200 million, with a final close expected in H2 2027. Nauta invests in B2B software and DeepTech startups from pre-Seed to Series A, with a focus on high-performance computing, AI infrastructure, cybersecurity, industrial automation, digital health, and energy frontier technology. The firm has backed over 200 founders across 100 companies and generated nearly €3 billion in exit value.
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