Dutch venture capital firm FORWARD.one has announced the launch of its third fund, targeting €200 million with a hard cap of €250 million. The fund aims to back 25–30 early-stage industrial technology startups across key European innovation hubs, including Benelux, DACH, and the Nordics.
Most of the capital for Fund III has already been secured from a mix of returning investors and new backers, signalling strong confidence in FORWARD.one’s differentiated thesis around industrial tech. The VC plans initial investments ranging from €1 to €3 million and will reserve a sizable portion to support follow-on rounds as portfolio companies scale.
“Fund III gives us more capacity to support Europe’s boldest innovators,” says Riemer Smink, Managing Partner at FORWARD.one. “Securing the majority of our commitments this early shows the deep belief in our strategy, and in the opportunities ahead in industrial technology.”
Delivered exceptional performance
Since its founding in 2017, FORWARD.one has built a reputation as one of Europe’s leading industrial tech investors. Its inaugural fund delivered a 41% net IRR and 2x DPI, with successful exits including Sensorfact (acquired by ABB) and Mayht (acquired by Sonos).
Its second fund, raised in 2021 for €145 million, focuses on sectors ranging from semiconductors and robotics to climate tech and advanced hardware.
“Our strategy is proven: invest early, scale fast, and deliver exits,” says Beau-Anne Chilla, Partner at FORWARD.one. “With Fund III, we will continue backing founders who dare to build transformative technologies, and help them commercialise innovations that end up in society at scale.”
Among the top 5% of European VC firms
FORWARD.one emphasises Europe’s unique strengths in complex industrial technology, supported by major players like ASML, ABB, and STMicroelectronics. “Europe’s strength in industrial technology is unmatched,” says Arjan Göbel, Partner at FORWARD.one. “These ecosystems are almost impossible to replicate elsewhere, and we see enormous opportunities to back the next champions here.”
With Fund III, FORWARD.one looks poised to amplify its impact in Europe’s industrial tech renaissance by empowering startups developing the next generation of semiconductors, robotics, and climate innovations.
