Nevermind VC Opens With €23.6M to Back Dual-Use Deeptech

Nevermind VC has launched with a €23.6 million first close to back dual-use deeptech startups, Tech.eu reports.

The figure marks the initial capital secured by the new venture firm, which will target early-stage companies building deep technologies with both defense and civilian applications. A first close is the point at which a fund begins deploying capital while still raising toward its final target; Tech.eu did not report the fund's intended final size or additional closings.

The launch lands amid a broader European push to finance dual-use technology. Governments and investors across the continent have shifted capital toward startups whose products serve defense customers alongside commercial markets, spanning areas such as cybersecurity, aerospace, sensors and advanced materials.

What is Nevermind VC backing?

The firm's stated focus is dual-use deeptech — companies developing science-heavy products that can sell into both government defense budgets and mainstream commercial markets, according to the Tech.eu report.

That positioning places Nevermind VC in a small but growing cohort of European seed and early-stage investors willing to underwrite hardware- and research-intensive startups, a category long avoided by funds chasing faster software returns.

Why does the €23.6M first close matter?

First-close size signals how much dry powder a new manager has secured from limited partners before its track record exists. At €23.6 million, Nevermind VC enters the market with enough committed capital to lead or participate in early-stage rounds, while leaving room to raise more before a final close.

For deeptech founders, the arrival of a dedicated dual-use fund adds a funding option in a segment where patient capital remains scarce and development timelines run long.

What comes next?

The fund will now begin deploying its first-close capital into qualifying startups. The pace of those initial investments, and any subsequent closes toward a larger target, will determine whether Nevermind VC can establish itself as a serious name in Europe's emerging dual-use deeptech category.