Cloudberry is a Helsinki- and London-based venture capital firm focused exclusively on early-stage deeptech. The firm was created to back the next generation of European semiconductor, photonics, and advanced materials companies at a time when the region is prioritizing technological sovereignty and domestic chip capabilities. Cloudberry positions itself as a specialist investor with deep technical understanding of hardware-driven innovation, operating at the intersection of research, industry, and policy.
Cloudberry invests in pre-seed and seed-stage startups working across semiconductors, photonics, and advanced materials. The firm focuses on technologies linked to compute, connectivity, sensing, and power, targeting foundational layers of the hardware stack rather than downstream applications. Its scope includes spinouts from research institutions as well as early commercial teams emerging from Europe’s industrial and engineering ecosystems.
Cloudberry recently announced a €35 million venture fund with an initial close at €30 million, described as Europe’s first fund dedicated exclusively to semiconductors, photonics, and advanced materials. The fund is backed by a mix of public and private investors, anchored by Finnish state-owned investor Tesi and supported by strategic industrial LPs including GlobalFoundries and Radiant Opto-Electronics, alongside international family offices and angel investors.
Notably, approximately 85 percent of the capital comes from outside Finland, reflecting strong cross-border conviction. The fund plans to invest in up to 20 companies across Europe, writing checks of up to €1 million at pre-seed and seed, while reserving sufficient capital to support follow-on rounds. Cloudberry’s fund strategy is tightly aligned with the EU Chips Act and the broader push to strengthen Europe’s position across the semiconductor value chain, particularly in early-stage innovation that has historically been underfunded.
Leadership
Cloudberry was founded by Veera Pietikäinen, Founding Partner, alongside a team of experienced deeptech investors and industry operators. The team brings decades of operational, technical, and venture experience from companies such as ASML, Bosch, and Heptagon, as well as from leading deeptech venture firms. This background informs Cloudberry’s highly technical investment approach and close collaboration with industrial partners.
Investment Strategy
Cloudberry leads early rounds in technically complex companies that require long development cycles, rigorous qualification processes, and close industry collaboration. The firm emphasizes deep diligence, strong foundry and industrial relationships, and long-term company building rather than rapid scaling. Cloudberry works closely with founders from prototype through early commercialization, leveraging its LP base to provide access to manufacturing partners, customers, and domain expertise.
Notable Investments
As a newly launched fund, Cloudberry is in the early stages of portfolio construction and has not yet publicly disclosed individual investments. The firm is actively deploying capital across European startups developing semiconductor technologies, photonics systems, and advanced materials with applications in AI, space, telecommunications, and defense.
Notable Exits
Cloudberry has not yet realized exits.
Other
Cloudberry is a pure-play specialist fund built for hardware-first companies. It is particularly well-suited for teams working on deep technical breakthroughs that require patient capital, industrial validation, and long-term partnerships.
Cloudberry’s close alignment with strategic LPs and policymakers makes it a strong partner for startups navigating Europe’s semiconductor and photonics ecosystems.
Rene Kromhof - Founding Partner
Veera Pietikäinen - Founding Partner
Finland
