Europe’s first semiconductor venture fund by Cloudberry – sized at EUR 30 million
Cloudberry, a VC firm based in Helsinki and London, has launched Europe’s first semiconductor fund in the size of EUR 30 million. The fund invests in tech companies in areas such as semiconductors, photonics and advanced materials to advance computing, connectivity, sensing and power.
Anchored by Tesi, the fund is supported by international LPs across Europe, Asia and the United States: GlobalFoundries, one of the world’s largest semiconductor foundries, Radiant OptoElectronics, a global leader in photonics, and numerous family offices and angel investors.
The launch comes as Europe accelerates its EU Chips Act, a EUR 43 billion initiative to double the continent’s global semiconductor market share to 20 per cent by 2030. The act aims to ensure Europe’s capacity in advanced chip design and manufacturing, strengthening resilience across global supply chains.
“The Cloudberry team, experienced deep-tech investors and industry operators with broad networks, are in a good position to capture value in domains that not only have significant market opportunities but also advance strategically critical technologies. Finland has a strong legacy of innovation in semiconductors and photonics, so the new fund is a welcome addition to the local VC ecosystem”, explains Asseri Lehtiniemi, Investment Director in Tesi’s Fund Investments team.
Tesi invests in both Finnish and international VC & PE funds. In Finnish ones, Tesi is often an anchor investor with the goal of increasing the size of Finnish funds to better match the international scale. By investing in new teams – like Cloudberry – Tesi strengthens the positive change and growth of the Finnish venture capital market.
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Additional information:
Asseri Lehtiniemi, Investment Director, Fund Investments
asseri.lehtiniemi@tesi.fi
+358 44 536 1080
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X(Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter