Bondstone unveils €50M deep tech fund from Lisbon
Two former physicists have launched a new €50 million deep tech investment vehicle under the umbrella of Portuguese investment group Bondstone, positioning Lisbon as an emerging hub for science-driven innovation in Europe.
The fund, managed by a team of ex-researchers turned investors, will focus on early-stage startups building defensible technologies in areas such as artificial intelligence, quantum computing, robotics, advanced materials and climate tech. By anchoring the fund in Portugal, the partners aim to bridge world-class academic research with commercialisation capital across the continent.
Physicists-turned-investors target frontier innovation
The two founding partners, both trained as physicists before moving into venture capital, intend to leverage their scientific backgrounds to carry out rigorous technical due diligence and support founders beyond capital. Their experience in R&D, patent strategy and scaling complex technologies is expected to be a key differentiator in Europe’s increasingly competitive deep tech investment landscape.
According to the team, the fund will typically lead or co-lead seed and Series A rounds, writing initial cheques in the low- to mid-single-digit millions of euros. The strategy prioritises startups with strong IP, clear paths to industrial deployment and the potential to build global category leaders from Europe.
Lisbon’s growing role in Europe’s deep tech ecosystem
Lisbon has rapidly evolved from a cost-efficient startup destination into a serious contender for high-impact technology ventures. The presence of strong engineering talent, competitive operating costs and an increasingly international investor base makes the city an attractive base for a specialised fund like Bondstone’s.
By launching a dedicated €50 million vehicle, Bondstone signals growing confidence in Europe’s capacity to transform fundamental research into scalable companies. The fund is expected to collaborate closely with universities, research institutes and corporate innovation arms across Portugal and the wider European Union, providing both capital and strategic guidance to founders tackling some of the world’s most complex technological challenges.