LUMO Labs strengthens €100 million impact fund with Spanish backing
Amsterdam-based impact investor LUMO Labs has secured a €6 million commitment from Spain’s state-owned investment arm SETT, adding fresh momentum to its planned €100 million impact venture capital fund. The vehicle targets early-stage European deeptech startups tackling major societal and environmental challenges.
The new capital from SETT (Sociedad Estatal de Transformación Tecnológica) underlines Spain’s ambition to play a more active role in Europe’s innovation and impact investing landscape. By joining the fund as a cornerstone institutional investor, the public entity aims to channel more funding into technologies that advance digital transformation, climate resilience and social inclusion.
Backing early-stage impact and deeptech ventures
The latest fund from LUMO Labs will focus on pre-seed and seed-stage companies working in areas such as artificial intelligence, data analytics, extended reality, robotics, and other scalable deeptech solutions. Portfolio companies are expected to align with the UN Sustainable Development Goals, delivering measurable social and environmental outcomes alongside financial returns.
By combining public capital from SETT with private investors across Europe, LUMO Labs seeks to close the persistent early-stage funding gap for impact-driven founders. The fund will not only provide equity financing but also hands-on support in product validation, internationalisation and responsible scaling.
Spain’s strategic role in European impact finance
The participation of SETT signals a broader shift in how European governments deploy public resources to accelerate innovation. Rather than relying solely on grants, Spain is increasingly using market-based tools such as VC funds to catalyse private co-investment and de-risk frontier technologies.
For founders, the partnership between LUMO Labs and SETT is expected to open new pathways into both the Dutch and Spanish innovation ecosystems, including access to corporates, research institutions and public-sector pilot projects. As the €100 million fund moves toward its final close, it is positioned to become a significant pan-European platform for mission-driven startups seeking capital, expertise and long-term support.