OTB Ventures launches new fund supported by InvestEU

Venture capital firm OTB Ventures announced the launch of a new OTB Fund II. The fund, with a target size of €150 million, is the first to receive support from the European Commission's InvestEU program and the European Investment Bank (EIB) group. 

OTB Fund II is the largest deep tech fund in the region. It will, among other things, enable OTB to strengthen its position as a leading investor in the European space tech scene. 

The €140 million already raised in the first closing of Fund II (including €45 million from InvestEU) means that OTB Ventures has achieved a record-high first close, having raised 93% of the fund's target investment amount. 

Source: ISB News