Quarterly News by DTCF – JUL-SEPT 2025

Conference Time, The Rise of Secondary Transactions, and Two New Investments

During Bits & Pretzels in Munich, we welcomed founders and investors to our traditional deeptech gathering. Moments like these remind us how valuable it is, especially in uncertain times, to see our industry come together with energy and optimism. And while the top priority in venture conversations is still the ongoing large appetite of investors for growth startups in trend sectors like AI and Defence Tech, we have seen a relevant structural topic come back: secondary transactions. 

They’ve long been part of the playbook, but in deeptech companies with inherently longer development and commercialization cycles, their role is even more important. In a market environment where exits are slow and capital needs are high, secondaries give early investors liquidity, growth investors conviction positions, and founders the chance to keep their cap tables clean and focused on long-term growth. 

Secondary transactions are not a negative signal, but rather a catalyst for major growth financing rounds. The majority of recent financing rounds with our participation have included a fair share of secondaries, and we look forward to supporting this trend in future financings. 

Coming back to our fund’s performance, we look back at three strong months: we announced two new portfolio companies and supported follow-on investments in existing champions, our founders collected major milestones, and we came together as a team and a community across Europe. 

🚀 New Investments in Q3

🔬 Nuclidium raised a €84M Series B to advance its radiopharmaceutical platform for next-generation cancer diagnostics and therapies. By combining precision imaging with targeted treatment, Nuclidium is developing a new class of oncology solutions that could improve both detection and outcomes. The round was led by Kurma, Angelini Ventures, Wellington, and Neva SGR, with participation from DTCF, Bayern Kapital, Vives Partners, Eurazeo, NRW.BANK and HighLight Capital, as well as existing investors. 

Read more in Handelsblatt, The Pharma Letter, and VC Magazin.

🌱 Genomines secured a €45M Series A to pioneer plant-based metal extraction. Its bioengineered plants absorb and recover nickel directly from soil, providing a sustainable alternative to traditional mining. With nickel being critical for batteries and clean energy technologies, Genomines is tackling both environmental impact and resource security. The round was led by Engine Ventures and Forbion BioEconomy, with additional investment from DTCF, Wind, and other new and existing investors.

Read more in Handelsblatt, Forbes, and Les Echos.

🌌 Proxima Fusion extended its record-setting €200M Series A from Q2. With this extension, Europe’s largest clean fusion financing gains further backing, reinforcing the company’s leading role in building a new generation of stellarator-based fusion power plants. (Read more)

     ⭐ Highlights from the Portfolio

🔋 Cylib secured €26M in EU funding to build one of Europe’s largest battery recycling plants. The new facility will significantly expand Europe’s capacity for sustainable resource recovery, helping meet growing demand for critical raw materials in the energy transition. Read more

⚛️ Kipu Quantum was featured on BBC News during the inauguration of Europe’s first exascale supercomputer, JUPITER. Co-CEO Enrique Solano emphasized how quantum computing could address AI’s soaring energy demands and open new problem-solving frontiers. Watch more

🌍 LiveEO announced a partnership with Nextra Consulting GmbH to support companies in meeting the EU Deforestation Regulation (EUDR). Their joint solution combines LiveEO’s satellite-based monitoring with Nextra’s compliance expertise, offering end-to-end risk assessment, supplier onboarding, and audit-ready reporting.

🏆 Planqc was awarded the Deutscher Gründerpreis, one of Germany’s most prestigious startup awards. The jury highlighted the company’s pioneering quantum computing platform and its potential to position Europe as a global technology leader. Read more

🚀 The Exploration Company continues to capture attention as Europe raises ambitions in human spaceflight. With its reusable Nyx capsule, the company is emerging as a central player in Europe’s push toward greater independence in space technology. Read more

📌 What Else Happened at DTCF?

The past few months at DTCF have been full of thoughtful conversations, new connections, and the start of the 2025 conference season.

🍸 Bits & Bubbles – Together with Plural and Walden Catalyst, we just closed the quarter with a community highlight: a deeptech cocktail hour during Bits & Pretzels, bringing founders and investors together over spritz, flatbread, and a shared ambition to shape the future. (Read our recap)

🤝 Bonn VC & PE-Night – In August, we co-hosted the first edition of this new format with RSM Ebner Stolz, HTGF, Capnamic, Neoteq, and ECBF. Our portfolio company Membion pitched to an audience of 120+ guests from the VC & PE ecosystem.

🚀 Fireside with Hans Koenigsmann – the SpaceX Pioneer on Exploration, Innovation & the Future of Space – In July, together with LiveEO, we welcomed one of the great minds of new space for an inspiring discussion on innovation and exploration. (Learn more)

👥 Team meetings in Munich – Twice this quarter, in July and September, our full team came together in Munich for strategy sessions. Beyond reviewing our portfolio and aligning on priorities, we also found time for some bonding over Knödel, paddling, and pretzels.

🎤 Contributing & Connecting Across Europe
Our team was present this quarter at BDI Weltraumkongress (Berlin), Bits & Pretzels (Munich), Festival der Zukunft (Munich), NY Climate Week, Space Innovation Summit, The Drop (Malmö), and VC Platform Summit Europe (Berlin). Alongside meeting founders and investors, we also shared our perspectives in the media, and DTCF Managing Directors Dr. Elisabeth Schrey and Tobias Faupel appeared in leading outlets including Handelsblatt (Tobias), FAZ Finance Magazin and VC Magazin (Elisabeth).

✨ What’s Ahead for Fall & (Early) Winter

📅 Where to Find Us
In the coming months, you can meet us at key ecosystem gatherings across Europe. Among others, we’ll be at the Sifted Summit in London (8–9 Oct), HTVD HighTech Venture Days in Dresden (14–15 Oct), and Slush in Helsinki (19–20 Nov).

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