Future Tech Ventures launches 20 million euro fund for startups within the north of the Netherlands

Future Tech Ventures (FTV), a new venture capital firm focusing on startups in the north of the Netherlands, was officially launched yesterday in Groningen.

FTV started with a 20 million euro fund that will support at least 50 high-tech startups in the proof-of-concept phase. The investment period is set for 2024 to 2029.

“Startups are often at a very early stage where it is difficult to obtain funding and there are significant risks related to technology, market and team,” said Niek Huizenga, fund manager at FTV, in a statement.

For this reason, the VC firm also offers business support, networking opportunities and consulting.

The fund was created through the joint effort of local ecosystem players Triade, RUG Ventures, NV NOM and Investeringsfonds Groningen.

“Future Tech Ventures is the result of years of collaboration between experienced parties in the north of the Netherlands,” said Edward van der Meer, director of Triade.

“By combining the strengths of [these partners] We can better support startups and position the region as a hotspot for high-tech innovations.”

North Holland (which includes Amsterdam), South Holland and North Brabant represent the largest startup clusters in the Netherlands. In 2023, they attracted 85% of total Dutch VC investments.

But efforts to strengthen startup hubs across the country are growing.

Future Tech Ventures was launched yesterday together with Founded in the North, whose goal is to support founders and connect the local ecosystem in Groningen, Friesland and Drenthe.