Nanotech fund raises €45m

A venture capital firm focused solely on the nanotechnology industry has raised its maiden fund with €45m of commitments and has already completed its first investment.

NanoDimension, registered in the Cayman Islands, operating out of Switzerland, is targeting companies located in Europe and North America working in areas such as IT/electronics, life sciences, materials and energy sectors related to nanotechnology.

In operation since 2002, the firm was founded by Aymeric Sallin, who was previously a strategy consultant at Bain & Company. He heads a team of seven, as well as being a member of a five-strong investment advisory committee.

The VC has already made its first investment, backing Crocus Technology, a French developer of a type of computer memory called MRAM (Magnetoresistive Random Access Memory), in a US$17m Series A round alongside Sofinnova Ventures, Ventech, CDC Entreprises Innovation, AGF Private Equity and Sofinnova Partners.

Jean-Pierre Braun, CEO of Crocu, said: “NanoDimension is providing us with much more than just capital. They are experts in technology and its commercialization. In addition to their capital involvement, they provide us with independent and scientific advisory board members. They have even been leading the acquisition of key patents for the company.”