Nauta's $65M Fund VI: The DeepTech Bet Reshaping European Startups

Jan de Vries · 2026-10-15

Nauta just did something few European VCs ever pull off: a sixth fund. The London-based firm announced the first close of Fund VI at €60 million (about $65 million), and the number alone isn't the story. The story is what it signals about where European venture capital is heading — and why American founders and investors should be paying attention. ### The Anchor That Keeps Showing Up The British Business Bank anchored the round with a €30 million ($32.5 million) commitment. That's not a one-off gesture. It's the fourth consecutive Nauta fund the bank has backed, which says something about trust that a press release can't fake. Other limited partners include SETT, Merifin Capital, and Institut Català de Finances, plus institutional investors and family offices spanning the UK, Continental Europe, LatAm, and the Middle East. Here's the part that matters: three-quarters of the investors in this first close are returning LPs. When most of your money comes back voluntarily, you're doing something right. "Our long-standing partnership with Nauta Capital demonstrates the role the British Business Bank can play in attracting international investors to the UK," said Michael Laycock, Investment Director at the bank. He noted that Nauta has built a substantial London presence and established the UK as a core investment market — bringing capital, expertise, and international connections into the venture ecosystem. ### Two Decades of Picking Winners Founded in 2004, Nauta is one of Europe's oldest early-stage investors. It has backed over 200 founders across 100 companies, writing first tickets between €250,000 and €4 million ($270,000 to $4.3 million) from pre-Seed to Series A. To date, it has generated nearly €3 billion ($3.25 billion) in exit value through more than 25 exits, including Brandwatch, Holded, and Connectbase. The strategy is focused: capital-efficient B2B software in verticals like travel, finance, retail, and HR. Fund VI will also continue the Nauta Capital Labs Initiative, a dedicated vehicle backing pre-Seed DeepTech companies in areas like high-performance computing, AI infrastructure, cybersecurity, industrial automation, digital health infrastructure, and energy frontier technology. ### The Portfolio That Proves the Thesis Look at the companies already in Nauta's portfolio and the strategy stops sounding like a pitch deck: - **Universal Quantum** — building the world's first million-qubit quantum computer, raised €89 million ($100 million) Series A this month - **NetBird** — Berlin-based open-source cybersecurity company backed at pre-Seed, went on to raise €8.5 million ($10 million) Series A - **Unravel** — AI-powered travel discovery and booking platform - **Acai Travel** — deploys AI agents for customer support in travel - **Lodgify** — short-term rental management platform ### The Bigger Picture Nauta is targeting a total fund size of €150 million to €200 million ($162 million to $217 million), with a final close expected in the second half of 2027. Hit that target and Nauta's total assets under management climb close to €750 million ($812 million). This first close lands as European DeepTech commands a record share of venture capital. According to the 2026 European Deep Tech Report, DeepTech now accounts for nearly a third of all European VC — more than double its share a decade ago. But here's the catch: most late-stage capital still comes from outside Europe. Carles Ferrer Roqueta, General Partner at Nauta, put it plainly: "Having invested through every major technology shift since the early 2000s, we've learned that enduring venture firms are built on discipline, adaptability and long-term conviction. This philosophy has enabled us to reach the rare milestone of a sixth fund, but more importantly it has strengthened our belief that every generation of technology brings with it a new wave of exceptional companies." For US investors watching Europe, Nauta's raise is a reminder that the continent's startup engine isn't just growing — it's maturing. The firms with staying power are the ones writing the next chapter.