KLM, Schiphol airport and others launch €18 million fund for transport and aviation startups

KLM Airlines, Schiphol Group, Delft University of Technology, Port of Amsterdam, and NS Dutch Railways will launch a new investment fund next month targeting Dutch startups in the aviation, transport, and logistic industries.

The €18 million Mainport Innovation Fund II (MIF II) will launch on October 1 and will focus on accelerating young Dutch companies in these industries that want to expand globally.

KLM, Schiphol Group (which operates Schiphol airport), and Delft University of Technology along with Rabobank had just recently announced seed funding for Dutch Internet of Things startup Undagrid through the first Mainport Innovation Fund.

The Port of Amsterdam and NS Dutch Railways are the fund’s newest partners.

“We can provide businesses with a unique platform, together with our partners,” said Thijs Gitmans, MIF II fund manager. “This method proved to be successful in our first Mainport Innovation Fund and demonstrated that it can help businesses get ahead in a very short period of time.”

MIF II, which is managed by NBI Investors, will invest over €18 million in 10 to 15 startups in transport, logistics, and aviation over the next six years, in relevant areas like the Internet of Things, Big Data, security, travel, energy, and freight management.

The fund was partially provided by the Ministry of Economic Affairs’ SEED Capital scheme in the Netherlands.

The news is the latest in a flurry of similar announcements in Europe:

Dutch VC firm henQ gets a fresh cash injection, launches its third fund (value: €50 million)

Lakestar announces a new €350 million fund focused on early-stage investments in Europe

Van den Ende & Deitmers morphs into Endeit Capital, launches €107 million fund

New London VC Felix Capital gets $120m to back ‘digital lifestyle’ startups

Point Nine Capital debuts its third, €55 million fund

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