Uplift Ventures announced on 2 September 2026 that it has closed an inaugural €100 million venture‑capital fund dedicated to European deep‑tech founders. The fund will target late‑seed and Series A companies and is designed to back up to 20 startups, as well as select deep‑tech funds, according to the announcement reported by Tech.eu.
Fund basics and investment scope
The €100 million vehicle is the first dedicated deep‑tech fund from Uplift Ventures, a firm that has previously invested in more than 30 companies across Physical AI, energy, enterprise AI and logistics. The new fund’s mandate is explicit: provide conviction capital at the stage where many European deep‑tech companies hit a financing bottleneck – the period between a successful seed round and the first substantial Series A. By allocating capital to up to 20 portfolio companies, Uplift aims to spread risk while maintaining enough capital per company to fund product development, regulatory approvals and early market entry.
Uplift did not disclose the average ticket size per investment, nor the proportion of the fund earmarked for follow‑on rounds. The firm also said it will consider investments in other deep‑tech funds that meet its criteria, but details of that secondary allocation were not provided.
Strategic backing from Jungheinrich
Logistics group Jungheinrich is listed as a strategic backer of the fund. While the exact amount of Jungheinrich’s commitment was not disclosed, the partnership signals a long‑term interest in nurturing technologies that could reshape material handling, warehouse automation and supply‑chain intelligence – areas where Jungheinrich already has a market presence.
Industry observers note that corporate‑backed venture funds have become a common way for established players to secure early access to disruptive innovations. In the logistics sector, similar arrangements have been seen with DHL’s venture arm and with Siemens’ investment in industrial AI startups. The Jungheinrich‑Uplift link therefore adds a layer of sector expertise that could help portfolio companies navigate the complex regulatory and commercial landscape of European manufacturing and logistics.
Team expansion: Christian Noske joins as General Partner
Alongside the fund launch, Uplift announced that Christian Noske has joined the firm as a General Partner. Noske brings experience from previous roles in corporate development and venture investing, complementing the existing leadership team of Kerk Wichmann, Christina Hammes and Maike Steding. The addition of a new GP at the fund’s inception underscores Uplift’s intention to scale its deal‑sourcing capacity and to provide hands‑on support to founders.
Uplift’s leadership team has not disclosed any changes to its investment thesis, but the timing of Noske’s appointment suggests a focus on deep‑tech sectors where his background is strongest – notably physical AI and logistics‑related hardware.
Implications for founders and investors
The €100 million fund arrives at a moment when European deep‑tech companies are struggling to bridge the “valley of death” between seed financing and larger growth rounds. According to the Tech.eu article, the fund directly addresses “one of the biggest financing gaps in the European ecosystem.” By offering capital at a stage that traditionally sees limited activity, Uplift could enable founders to retain greater equity, reduce reliance on non‑dilutive grants, and accelerate time‑to‑market.
For investors, the fund adds a new vehicle that can be used as a co‑investor in later rounds, potentially improving the odds of successful exits. The presence of Jungheinrich as a strategic backer may also attract other corporate limited partners looking for exposure to deep‑tech pipelines.
Comparatively, other recent European deep‑tech funds have been smaller or focused on earlier stages. For example, the British Business Bank’s £46 million commitment to Zinc’s Science‑for‑Impact fund targets a broader early‑stage pool, while Mistral AI’s €3 billion Series D round reflects a later‑stage, high‑valuation approach. Uplift’s €100 million size places it in the mid‑range, but its narrow stage focus differentiates it from the broader‑mandate funds.
What remains unknown
Several key details were not disclosed in the public announcement. The exact amount contributed by Jungheinrich, the allocation between direct startup investments and secondary fund investments, and the timeline for the first capital calls remain opaque. Uplift also did not specify any performance targets or expected return multiples, leaving investors to infer the fund’s financial expectations.
Finally, the fund’s geographic focus beyond “Europe” was not clarified. While the backer is German and the firm’s prior investments have a pan‑European footprint, it is unclear whether the fund will prioritize certain hubs – such as Berlin, Paris or Stockholm – or whether it will seek to balance exposure across the EU.
Uplift Ventures plans to publish its first set of portfolio announcements later this year, and the firm will likely provide more granular data on capital deployment in the months ahead.