Firms
Vsquared Ventures Munich, DE
Vsquared Ventures is a Munich-based early-stage venture capital firm focused on deep tech across Europe. The firm invests from pre-seed to Series A in companies tackling society's most pressing challenges, with emphasis on AI, energy transition, new computing, space, robotics, and techbio.
Founded —
Type Venture capital Funds3 Vsquared Ventures III GmbH & Co. KG 2026-05-12 2026-05-12 — LEIrecordupdatedMay12: entitycreated2026-02-24, confirmslegalexistenceonly notfundraise/size/close.
Vsquared II 2024-06-13 2024-06-13 €214M FinalcloseEUR214m aboveoriginal165mtarget; June11reporting precedesJune13counselpublication. HistoricalAUMapproxEUR450m distinct.
Vsquared I 2020-05-07 2020-05-07 — EUR65mtarget, firstclosejustunderhalf; finalsizeunverified.
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Team$1M $100K – $5M Germany $1M $100K – $5M Munich, Germany $1M $100K – $5M Munich, Germany $1M $100K – $5M Munich, Germany $1M $100K – $5M Munich, Germany $1M $100K – $5M Munich, Germany $1M $100K – $5M Munich, Germany $1M $100K – $5M United States — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – — — — – —
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Investments$50M 2024-10-29 INBRAIN Neuroelectronics imec.xpand , EIC Fund , Fond ICO Next Tech , CDTI-Innvierte , Avançsa , Asabys Partners , Aliath Bioventures , Vsquared Ventures , Herbert Mangesius €14M 2021-03-26 INBRAIN Neuroelectronics Asabys Partners , Aliath Bioventures , Alta Life Sciences , Vsquared Ventures , TruVenturo , CDTI-Innvierte , Herbert Mangesius , CDTI $40M 2026-03-24 Lace Lithography Atomico , Vsquared Ventures $— 2026-02-11 constellr Lakestar , Vsquared Ventures $— 2026-02-05 Morpheus Space Vsquared Ventures €7M 2026-01-22 ABZ Innovation Vsquared Ventures , Day One Capital , Tommy Oehl $4M 2026-01-15 AlphaLum Vsquared Ventures , Benedikt Von Schoeler €77M 2025-11-13 FMC HV Capital , Bosch Ventures , Vsquared Ventures $— 2025-09-24 Belfort Vsquared Ventures , Inovia Capital $23M 2025-06-23 Snowcap Playground Global , Vsquared Ventures $17M 2025-05-27 Hedera Dx Vsquared Ventures , Lise Rechsteiner €6M 2025-03-19 PulseTrain Planet A Ventures , Vsquared Ventures £4M 2025-02-20 Safe Intelligence Amadeus Capital Partners , OTB Ventures , Vsquared Ventures $25M 2025-02-19 Atrandi Biosciences Lux Capital , Vsquared Ventures €120M 2025-01-15 Neura Robotics HV Capital , Vsquared Ventures $23M 2025 Snowcap Playground Global , Vsquared Ventures $— 2025 Lendurai Expeditions , HCVC , Vsquared Ventures €14M 2024-12-19 VAERIDION Project A Ventures , Vsquared Ventures $— 2024-11-05 Xavveo Vsquared Ventures €25M 2024-06-12 Black Semiconductor Project A Ventures , Vsquared Ventures $5M 2024-06-05 Synthara Vsquared Ventures , OTB Ventures , Hermann Hauser €55M 2024-05-15 cylib 10x Founders , Bosch Ventures , Speedinvest , Vsquared Ventures $— 2024-03-07 Zama Vsquared Ventures $— 2023-06-09 Dynelectro Vsquared Ventures $5M 2023-03-28 Atrandi Biosciences Vsquared Ventures , Lise Rechsteiner $165M 2023-03-28 Isar Aerospace Earlybird Venture Capital , HV Capital , Lakestar , Vsquared Ventures $44M 2023-02-01 The Exploration Company Cherry Ventures , Partech , Vsquared Ventures , Tommy Oehl , Filip Dames $— 2022-12-14 Group 14 Technologies Vsquared Ventures $10M 2022-11-03 constellr Seraphim Space , Lakestar , In-Q-Tel , Acton Capital , Vsquared Ventures , EIT Food $— 2022-09-14 Morpheus Space Vsquared Ventures $— 2022-05-04 Group 14 Technologies Vsquared Ventures €60M 2022 CustomCells 468 Capital , Vsquared Ventures $— 2021-11-18 The Exploration Company Cherry Ventures , Vsquared Ventures $9M 2021-11-04 OQmented Vsquared Ventures , Benedikt Von Schoeler $75M 2021-07-28 Isar Aerospace HV Capital , Earlybird Venture Capital , Lakestar , Vsquared Ventures , Hendrik Brandis $91M 2020-12-08 Isar Aerospace Lakestar , Earlybird Venture Capital , HV Capital , Vsquared Ventures $5M 2018-05-15 BrainQ OurCrowd , IT-Farm Corporation , Vsquared Ventures $— Unknown date Megacool Vsquared Ventures $— Unknown date Megacool Vsquared Ventures $— Unknown date OQmented Vsquared Ventures $— Unknown date Arlequin Vsquared Ventures $30M Unknown date micropsi Vsquared Ventures $— Unknown date Hyperganic Vsquared Ventures $— Unknown date Hyperscale Power Vsquared Ventures $— Unknown date Quantune Vsquared Ventures $— Unknown date QC Design Vsquared Ventures €9M 2026-09-08 Ground A Vsquared Ventures $25M 2026-08-10 BIOS Life Vsquared Ventures €77M 2025-11-13 Ferroelectric Memory Company HV Capital , Vsquared Ventures , Fabian Gruner $23M 2025-06-23 Snowcap Compute Playground Global , Vsquared Ventures $— 2025-06-11 Arlequin AI Vsquared Ventures , 10x Founders $30M 2022-02-14 Micropsi Industries Vsquared Ventures $— 2021 Archived duplicate of InbrainNeuroelectronics round 20046 Vsquared Ventures €39M 2020-11-12 IQM Finland Oy Vsquared Ventures $— Unknown date Archived duplicate of InbrainNeuroelectronics round 20048 Vsquared Ventures $— Unknown date Customcells Group Vsquared Ventures
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team@apexlogos.ai · 8 hours ago
Investment-fund research reviewed 2026-10-06. Publicly identified funds, dates, amounts and fundraising status are below. Undisclosed commitments remain unknown; this is not a complete register of private SPVs or parallel entities.
Fund size and investment stages
| Vehicle/metric | Amount and status | Evidence/date and limitations |
|---|---|---|
| Vsquared II | **€214m final close**, above **€165m original target** | [YPOG, legal adviser to the closing](https://www.ypog.law/presse/ypog-beraet-vsquared-ventures ), 2024-06-13; [EU-Startups reporting](https://www.eu-startups.com/2024/06/munich-based-vc-vsquared-ventures-closes-e214-million-for-largest-european-early-stage-deep-tech-fund-to-date/ ), 2024-06-11. The firm's [news entry](https://vsquared.vc/news/vsquared-closes-second-fund-of-e214m-to-cash-in-on-europes-deep-tech-boom/ ) confirms the headline but its retrieved article body is sparse. |
| Firm AUM | Approximately **€450m as of that June 2024 close** | Same YPOG announcement. This is total managed assets across vehicles, not Fund II size or a current 2026 audited AUM figure. |
| First Vsquared fund, 2020 launch | **€65m target**, first close of just under half the target | [Handelsblatt](https://www.handelsblatt.com/unternehmen/mittelstand/familienunternehmer/risikokapital-neuer-fonds-will-den-technologie-standort-europa-staerken/25806052.html ), 2020-05-07. Do not promote the target to a verified final close. Article places the fund alongside the earlier Vito Ventures activity. |
| Vsquared III legal entity | **Size and fund closing status unknown** | [Bloomberg LEI record](https://lei.bloomberg.com/leis/view/391200HA57JAVMNVTH80 ), record updated 2026-05-12, accessed 2026-10-06: Vsquared Ventures III GmbH & Co. KG, LEI 391200HA57JAVMNVTH80, entity creation 2026-02-24. Registration proves existence, not capital raised, target, deployment or final close. |
| Initial investment checks, Fund II | **€0.5m–€5m**; two-thirds reserved for follow-ons; approximately 25 planned companies | [Munich Startup](https://www.munich-startup.de/en/102147/vsquared-ventures-closes-second-fund-with-214-million-euros/ ), 2024-06-14. Reporting tied to Fund II; not guaranteed current tickets for every vehicle. |
The verified strategy is **early-stage European deep tech**. YPOG lists computing/sensing, space, robotics/manufacturing, energy, AI/software and tech-bio. The exact pre-seed–Series A range appears in the Adex baseline; retrieved official overview text does not provide an exhaustive hard cutoff. Transactions establish actual pre-seed activity (Ground A), seed (OQmented/Bios Life), Series A (IQM/INBRAIN) and later participation (Micropsi/INBRAIN Series B, Isar Series C). Later rounds demonstrate follow-on or later activity, rather than an unrestricted late-stage entry mandate. Ground A's company announcement is a particularly recent official pre-seed example. Fund II sources describe capacity for follow-ons. Search for 2025–26 funds found the III legal-entity lead above, but no verified newer fund amount.
Funds recorded in Adex after this review:
| Fund | Disclosed amount | Announcement / filing date |
| --- | --- | --- |
| Vsquared I | Undisclosed / unverified | 2020-05-07 |
| Vsquared II | EUR 214000000 | 2024-06-13 |
| Vsquared Ventures III GmbH & Co. KG | Undisclosed / unverified | 2026-05-12 | SHOW MORE
team@apexlogos.ai · 9 hours ago
Match research 2026-10-06 / GoldiVsquaredVentures / sha256:75b0827dcc98022ed3d6f4406eb6d949d9dff81cdf85701bc15f007d13bea7c1 / part 2 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
Additional official portfolio evidence supports **Black Semiconductor** (graphene semiconductor chips), **Snowcap** (superconducting AI/HPC), **Belfort** (encrypted-compute hardware), **Dynelectro** (solid-oxide hydrogen), **Lace Lithography** (chip patterning), **Synthara** (in-memory computing), **Lightium** (thin-film lithium-niobate photonics), **Group14** (lithium-silicon battery materials) and **QC Design** (quantum fault tolerance). These are firm-level portfolio attributions, not independently dated round checks in this report. [Official portfolio](https://vsquared.vc/portfolio/ ) (undated, accessed 2026-10-06). Ordinary data management/software entries are not automatically included as deep tech.
## Named previous neurotech investments
**INBRAIN Neuroelectronics — verified direct neurotechnology.** The technology uses graphene electrodes to record/decode brain signals and deliver tailored electrical/neural modulation. This is implantable BCI/neuromodulation, rather than merely brain-inspired AI or adjacent mental health.
- **€14.35m Series A**, **2021-03-26**: research institution IMB-CNM/CSIC names Vsquared as joining the round co-led by Asabys and Alta Life Sciences, alongside TruVenturo and CDTI. Applications mentioned include epilepsy, Parkinson's and other neurological disorders. The earlier June 2020 seed syndicate does **not** name Vsquared; do not backdate its participation to that seed. [Institutional announcement](https://www.imb-cnm.csic.es/en/outreach/news/graphene-flagship-partners-spin-inbrain-neuroelectronics-raises-close-eu15m-develop ).
- **$50m Series B**, **2024-10-29**: imec hosts the company financing announcement and names Vsquared as an existing investor participating; **imec.xpand led**. Funding supports clinical trials and development of a bidirectional graphene neural interface. $68m cited is cumulative company funding, not this round or Vsquared's check. [imec announcement](https://www.imec-int.com/en/press/inbrain-neuroelectronics-raises-50m-series-b-advance-graphene-based-brain-computer-interface ).
**BrainQ — neurotech company, but Vsquared attribution unverified and questionable.** The snapshot lists a May 15, 2018 investment using only goldi.ai. BrainQ's actual company release on that date names Qure, OurCrowd, Norma, IT-Farm and angels; it does not name Vsquared or Vito. The 2018 date precedes Vsquared's reported 2020 launch. BrainQ develops EEG-informed electromagnetic neurological rehabilitation, so classification is direct neurotech if an investment is eventually established. Do **not** count this as verified Vsquared investment. [BrainQ company release](https://www.prnewswire.com/news-releases/brainq-technologies-raises-88-million-to-treat-neurodisorders-with-artificial-intelligence-682666821.html ), **2018-05-15**. Its $8.8m wording is cumulative investment to date, not necessarily new money in that round. Absence from this release does not prove the firm/team never invested later.
**BIOS Life is not BIOS Health.** A recent **$25m seed** announced **2026-08-10**, co-led by Vsquared, Redmile and Kindred, concerns AI/genomic cancer surveillance; it is not a neural-interface investment. [Company-issued announcement](https://www.einpresswire.com/article/933138397/bios-life-emerges-from-stealth-with-25m-and-partners-with-tempus-to-personalize-cancer-screening-and-surveillance ); [Goodwin transaction adviser](https://www.goodwinlaw.com/en/news-and-events/news/2026/08/announcements-technology-hltc-goodwin-advises-bios-life-raising-25-million-seed-funding ), **2026-08-13**. Likewise Neura Robotics' name and Micropsi's perception models do not establish neurotech investment.
## Conflicts, gaps and later Adex review notes
1. Record Fund II as €214m **final close** in June 2024; store €165m separately as superseded target and €450m as historical AUM. Fund III requires further official fundraise verification before entering a size; do not infer it from a legal entity or round-level shareholder.
2. Stage description can retain early-stage orientation, with pre-seed/seed/A supported by transactions. Do not interpret later B/C participation as proof of a current late-stage-first-check strategy. €0.5–5m checks are Fund II-era reporting, not fund size.
3. Strengthen INBRAIN evidence with primary/institutional URLs and exact Series A/B dates above. Snapshot variants `INBRAIN Neuroelectronics` and `INBRAIN NEUROELECTRONICS, S.L.` likely duplicate the same company/financings; review before consolidation. Round totals must not occupy individual participation amount fields.
4. Hold or flag BrainQ attribution rather than accepting generic Goldi evidence. Need a specific contemporaneous investor announcement, cap table or fund disclosure. Team/Vito history must remain separate from Vsquared fund investments; IQM's 2020 adviser source expressly distinguishes the two.
5. Review repeated snapshot entities: FMC/Ferroelectric Memory Company; Snowcap/Snowcap Compute; Micropsi/micropsi; CustomCells/Customcells Group; Arlequin/Arlequin AI. The two unrelated-looking Megacool entries also require identity checking before aggregation. No deletion/merge was performed.
6. Official website Munich address and Signal's US geography disagree; use official identity and investigate address evolution rather than copying directory labels. Snapshot Tommy Oehl/Thomas Oehl roles may be duplicate people; not independently adjudicated here.
7. Ground A and BIOS Life are primary-source 2026 additions missing from the snapshot's named investment list. BIOS Life belongs to oncology/health tech; further technical diligence is needed before applying a deep-tech label automatically.
8. This is focused, source-grounded firm research, not a comprehensive audit of all 54 historical snapshot entries, all partner resumes or every financing since inception. Precise individual checks, ownership, Fund III commitments and current AUM remain undisclosed/unverified. All links were checked or retrieved through web browsing on 2026-10-06; sparse official news bodies and Signal team rendering limit extraction. No MCP Patch, database update or commit occurred. SHOW MORE
team@apexlogos.ai · 9 hours ago
Match research 2026-10-06 / GoldiVsquaredVentures / sha256:75b0827dcc98022ed3d6f4406eb6d949d9dff81cdf85701bc15f007d13bea7c1 / part 1 of 2
Imported completed research. Baseline Adex/Signal statements describe prior state, not independent verification. Retain cited attribution, date, currency and classification caveats.
# Vsquared Ventures
- Exact Adex ID: `GoldiVsquaredVentures`
- Canonical Adex URL: https://adex.page/firms/GoldiVsquaredVentures
- Official website: https://vsquared.vc/
- Research date and source access date: 2026-10-06
- Status: Complete focused research for later Adex review; no Adex/database edits.
## Summary and identity
Vsquared is a Munich-based European deep-tech investor. Verified investments cover superconducting quantum computers, launch vehicles, MEMS optical hardware, industrial robotics and implantable neuroelectronics. Its latest **verified public fund close found** is Vsquared II at **€214 million in June 2024**; a Vsquared III legal entity exists in 2026, but its size/closing status was not established. **Direct neurotech investment is verified in INBRAIN Neuroelectronics**, including Series A and Series B participation. The snapshot's BrainQ attribution remains unsupported.
The official site's footer identifies Vsquared Ventures Management GmbH in Munich, Germany. It explicitly references both Vsquared I and II. [Official home page](https://vsquared.vc/ ) (undated, accessed 2026-10-06). Signal reports founding in 2020, consistent with the firm's 2020 launch reporting discussed below; legal incorporation and predecessor-team history should not be treated as the same event.
## Adex and NFX Signal starting evidence
The local exact-ID snapshot `_sources/GoldiVsquaredVentures.adex.json`, retrieved 2026-10-06, contains the firm description, Munich location, null investment check minimum/maximum/sweet spot, 17 roles and 54 investment participation records. Its description says pre-seed to Series A across European deep tech. It includes INBRAIN, IQM, Isar Aerospace, OQmented, Micropsi, battery/materials companies and several 2025–26 transactions. It also includes repeated company names/rounds under variant entities and a BrainQ entry dated 2018-05-15 supported only by the generic goldi.ai homepage. These are starting claims, not independently established facts.
[NFX Signal firm page](https://signal.nfx.com/firms/vsquared-ventures ) was directly read on 2026-10-06. Accessible text states founded 2020 and gives mixed location labels: United States, Munich Germany and Germany. Its co-investor list includes Asabys, The Engine, HV Capital and World Fund. The visible team section contains no usable investor profiles, check ranges or stage mandates in the retrieved text. The US label conflicts with the official Munich identity and should not override it. Signal is a directory, not independent transaction confirmation.
## Fund size and investment stages
| Vehicle/metric | Amount and status | Evidence/date and limitations |
|---|---|---|
| Vsquared II | **€214m final close**, above **€165m original target** | [YPOG, legal adviser to the closing](https://www.ypog.law/presse/ypog-beraet-vsquared-ventures ), 2024-06-13; [EU-Startups reporting](https://www.eu-startups.com/2024/06/munich-based-vc-vsquared-ventures-closes-e214-million-for-largest-european-early-stage-deep-tech-fund-to-date/ ), 2024-06-11. The firm's [news entry](https://vsquared.vc/news/vsquared-closes-second-fund-of-e214m-to-cash-in-on-europes-deep-tech-boom/ ) confirms the headline but its retrieved article body is sparse. |
| Firm AUM | Approximately **€450m as of that June 2024 close** | Same YPOG announcement. This is total managed assets across vehicles, not Fund II size or a current 2026 audited AUM figure. |
| First Vsquared fund, 2020 launch | **€65m target**, first close of just under half the target | [Handelsblatt](https://www.handelsblatt.com/unternehmen/mittelstand/familienunternehmer/risikokapital-neuer-fonds-will-den-technologie-standort-europa-staerken/25806052.html ), 2020-05-07. Do not promote the target to a verified final close. Article places the fund alongside the earlier Vito Ventures activity. |
| Vsquared III legal entity | **Size and fund closing status unknown** | [Bloomberg LEI record](https://lei.bloomberg.com/leis/view/391200HA57JAVMNVTH80 ), record updated 2026-05-12, accessed 2026-10-06: Vsquared Ventures III GmbH & Co. KG, LEI 391200HA57JAVMNVTH80, entity creation 2026-02-24. Registration proves existence, not capital raised, target, deployment or final close. |
| Initial investment checks, Fund II | **€0.5m–€5m**; two-thirds reserved for follow-ons; approximately 25 planned companies | [Munich Startup](https://www.munich-startup.de/en/102147/vsquared-ventures-closes-second-fund-with-214-million-euros/ ), 2024-06-14. Reporting tied to Fund II; not guaranteed current tickets for every vehicle. |
The verified strategy is **early-stage European deep tech**. YPOG lists computing/sensing, space, robotics/manufacturing, energy, AI/software and tech-bio. The exact pre-seed–Series A range appears in the Adex baseline; retrieved official overview text does not provide an exhaustive hard cutoff. Transactions establish actual pre-seed activity (Ground A), seed (OQmented/Bios Life), Series A (IQM/INBRAIN) and later participation (Micropsi/INBRAIN Series B, Isar Series C). Later rounds demonstrate follow-on or later activity, rather than an unrestricted late-stage entry mandate. Ground A's company announcement is a particularly recent official pre-seed example. Fund II sources describe capacity for follow-ons. Search for 2025–26 funds found the III legal-entity lead above, but no verified newer fund amount.
## Named previous deep-tech investments
Amounts below are whole financing rounds, **not Vsquared's individual checks**. Attribution is to the firm unless explicitly qualified.
| Company | Technology rationale and firm attribution | Supported financing/date and source |
|---|---|---|
| **IQM / IQM Finland Oy** | Superconducting quantum computing hardware. Adviser identifies Vsquared as a new investor, separately from existing Vito Ventures. | **€39m Series A**, adviser publication **2020-11-12**, led by MIG Fonds. [Avance adviser announcement](https://www.avance.com/cases/iqm-raises-eur-39-million-in-series-a-financing ). |
| **Isar Aerospace** | Proprietary orbital launch vehicles, propulsion and automated rocket manufacturing; company names Vsquared in the syndicate. | **$165m / €155m Series C**, **2023-03-28**. [Company release via PR Newswire](https://www.prnewswire.com/news-releases/space-company-isar-aerospace-secures-series-c-funding-round-of-usd-165m-to-meet-global-demand-for-access-to-space-301783181.html ). Historical first-investor claims may incorporate the team's Vito-era record; this 2023 participation is separately verified. |
| **OQmented** | MEMS laser scanning hardware for AR/VR displays and 3D sensing, a Fraunhofer spinout; company includes Vsquared in its seed investor syndicate. | **$9.3m seed extension**, **2021-11-04**; nearly $20m cumulative company funding at that point. [Official release PDF](https://oqmented.com/wp-content/uploads/2021/11/Press-release_OQmented-seed-extension.pdf ). This wording confirms syndicate affiliation but does not disclose Vsquared's extension check. |
| **Micropsi Industries** | Real-time perception and learned motion control for industrial robots; company explicitly says VSquared co-led with Metaplanet and Ahren. This is robotics AI, not direct neurotechnology. | **$30m Series B**; official page publication **2022-02-14**. [Company announcement](https://www.micropsi-industries.com/blog/micropsi-industries-secures-30m-in-series-b ). Some directory/reporting dates use February 23; preserve publication-date distinction. |
| **Ground A** | Laser-based counter-drone hardware with software/control integration. Company explicitly identifies Vsquared as round lead. | **€9.1m pre-seed**, **closed June 2026** per release, announcement dateline August 2026, webpage published **2026-09-08**. [Official announcement](https://grounda.de/news/ground-a-secures-9-1-million-euro-pre-seed-funding ). Do not treat September publication as the June close date. |
| **INBRAIN Neuroelectronics** | Graphene neural interfaces combine advanced materials, implantable electronics and neural signal decoding/modulation; also direct neurotech. | Verified Series A and B detailed below. | SHOW MORE
team@apexlogos.ai · 22 days ago
MATCH