Europe’s deeptech investment ecosystem is gaining traction as more venture capital firms commit dedicated resources to bridging the gap between academic research and commercial application. Franco-Italian venture capital firm 360 Capital has announced a first closing of €85 million for Poli360 2, its new early-stage fund dedicated to technology transfer and deeptech startups spun out of European universities.
The fund, which targets a final close of €100 million, will back 20 to 25 companies with initial cheques of around €2 million and follow-on capabilities reaching up to €8 million. At least 80 per cent of investments will be deployed in Italy, with up to 20 per cent allocated elsewhere in Europe, reflecting the firm’s Franco-Italian heritage and its deep ties to the continent’s leading research institutions.
Strategic backers signal institutional confidence in deeptech
The investor base for Poli360 2 includes a notable mix of public and private institutions. The European Investment Fund, CDP Venture Capital, several Italian pension funds, family offices, and corporate investors have all committed capital. Among the corporate backers are Brembo, the global leader in braking systems, MBDA, the European defence missile systems company, and Lucchini RS, a specialist in railway and industrial components.
The presence of industrial corporate investors alongside institutional capital reflects a deliberate strategy. Deeptech startups — particularly those commercialising breakthrough research in areas such as advanced materials, energy systems, and industrial automation — often benefit from strategic partnerships with established manufacturers who can accelerate technology adoption and provide market access.
Founded in 1997, 360 Capital has built a track record across the European technology landscape. The Poli360 2 fund builds on the experience of its predecessor, Poli360 1, which assembled a portfolio of approximately twenty holdings including Energy Dome, an innovative long-duration energy storage company, as well as Isaac and PhotonPath.
European deeptech ecosystem matures with dedicated capital
The fund’s strategy centres on two primary verticals: industry automation and sustainability. These themes align closely with broader European policy objectives, including the EU’s push for technological sovereignty and its ambitious climate targets. By focusing on seed-stage investments in university spinouts, 360 Capital is positioning itself at the earliest and most critical point in the deeptech commercialisation journey — where promising research often struggles to attract patient, knowledgeable capital.
The Poli360 2 launch coincides with growing momentum for deeptech investment across Europe. Multiple specialist funds have emerged in recent years to address the specific needs of science-based startups, which typically require longer development timelines and deeper technical due diligence than their software counterparts. The European Investment Fund’s participation in Poli360 2 underscores the strategic importance policymakers attach to strengthening the continent’s technology transfer infrastructure.
With a final close expected by year-end, 360 Capital aims to cement its position as a leading early-stage deeptech investor in Southern Europe while expanding its reach across the broader European research ecosystem.
Summary
Fund: Poli360 2 — 360 Capital
HQ: Paris, France / Milan, Italy
Founded: 1997 (360 Capital)
First close: €85 million (target: €100 million)
Focus: Deeptech, university spinouts — Industry Automation and Sustainability
Geography: 80% Italy, 20% rest of Europe
Cheque size: ~€2M initial, up to €8M follow-on
Key LPs: European Investment Fund, CDP Venture Capital, Brembo, MBDA, Lucchini RS