Qatar backs $380m fundraising for Dutch chip equipment startup

Qatar Investment Authority (QIA) has backed the latest $380 million fundraising round of Nearfield Instruments, a Dutch chip equipment startup.

The series D round was led by US-based Fidelity, along with Singapore’s Temasek, Walden Catalyst, European VC Innovation Industries, M&G Investments, and Invest-NL.

QIA joined the funding round as a new investor, the Rotterdam-based company said in a statement, without disclosing the size of the sovereign fund’s investment.

The funding valued Nearfield Instruments at $1.6 billion.

The funding will accelerate the company’s innovation roadmap, establish worldwide application centres of excellence, expand production capacity, and deepen collaborative R&D with top semiconductor manufacturers.

Earlier this month, QIA invested in Finnish microsatellite manufacturer and operator Iceye’s €1 billion ($1.2 billion) fundraising round.

QIA and Cofides, a Spanish state-owned financial institution, agreed this month to establish a €300 million investment fund to support the green transition, digital transformation, and technological innovation in Spain.

In May, the sovereign wealth fund backed the Greek state-owned Public Power Corporation’s €4.3 billion capital offering as an anchor investor.

Founded in 2005, QIA has nearly $580 billion in assets under management, according to Global SWF, a data platform that tracks sovereign wealth funds.

Further reading:

• QIA invests in microsatellite manufacturer Iceye
• Byju’s founder appeals against Singapore jail term in QIA dispute
• QIA backs Greek utility’s $5bn capital top-up