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UK deep tech VC IQ Capital launches new $125M growth fund, closes third VC fund at $175M

Mike Butcher
UK deep tech VC IQ Capital launches new $125M growth fund, closes third VC fund at $175M

IQ Capital, a U.K.-based deep tech fund that has invested in startups such as Paragraf, Senseye and Funderbeam, has launched a new $125 million Growth Opportunities Fund and closed its third venture fund, IQ Capital Fund III, at $175 million. National Grid Partners have joined British Patient Capital and a number of other global institutions as an investor in IQ Capital Fund III. The move is part of a wider shift in VC investing across Europe toward so-called deep tech (AI, biotech, blockchain, etc.).For instance, Adara Ventures, a Spanish VC firm, recently closed its third fund with commitments in excess of €65 million to back European early-stage deep tech startups.