Deep Tech · VC Firm

DeepTech & Climate Fonds (DTCF)

Germany's €1B public co-investment fund anchoring deep tech and climate tech growth rounds; co-led planqc's €50M Series A and Kipu Quantum's €10.5M seed, always pari passu with a private lead. Distinct from DTCP.

Active Bonn, GermanyFounded 2023

Investment thesis

German public co-investment fund (up to €1B from the Zukunftsfonds and ERP Special Fund) acting as anchor investor for deep tech and climate tech companies in Germany and Europe, from Series A into growth.

Invests €5M-€10M sweet spot (min €1M, up to €50M per company), always alongside a private lead investor, pari passu, holding under 25% of voting rights.

Quantum sits inside a broader future-of-computing thesis (published deep dive segmenting security, sensors, software and full-stack hardware), with one bet on each side: planqc (neutral-atom hardware, co-led the €50M Series A with CATRON Holding, Jul 2024) and Kipu Quantum (hardware-specific algorithms, co-led the €10.5M seed with HV Capital, Dec 2023).

Patient capital with a 25+ year fund lifetime, targeting capital-market readiness and long-term independence in Germany rather than a fast exit. Not to be confused with DTCP (Deutsche Telekom Capital Partners).

Anti-thesis

The patterns that trigger a fast no with this fund.

  1. Never leads alone: you must already have a private co-lead committed before DTCF can join (min 30% private money per deal)
  2. Germany/Europe mandate only; a Canadian or US quantum startup without a German anchor is out of scope
  3. Caps itself below 25% of voting rights and below Series A it does not play; pre-seed and seed-stage founders should look at HTGF (its platform sibling) instead
  4. Only two quantum deals ever, none since July 2024: quantum is one vertical among many (fusion, space, batteries, life sciences), not a dedicated practice; it skipped eleQtron's €57M Series A (May 2026)
  5. Public fund processes: pari passu terms with the private lead, governance and reporting expectations of a state-backed vehicle

Notable quantum portfolio

Full portfolio
Kipu Quantumplanqc

Frequent co-investors