# Noctua Science Ventures Pre-Seed Fund (2026 first close)

> Austrian science-spin-off pre-seed vehicle managed by Noctua Science Ventures. VERBUND X Ventures confirms a €15M FIRST close (announced November 10, 2026), while Dealroom reports a €25M future target, not capital already raised. Maximum first cheque €500,000; manager aims at 5–10 investments annually. Individual LP commitments, fee/carry, precise legal fund vehicle name and exact legal close day are undisclosed. VCT fund label is descriptive, not a verified legal title.

## Profile

- **Reported initial check:** EUR 500K
- **Check-size evidence basis:** reported
- **Founded:** N/A
- **Headquarters:** Vienna, Austria; Austria-wide mandate
- **AUM:** N/A
- **Rounds they lead:** Pre-Seed
- **Rounds they invest:** Pre-Seed
- **Check-size source:** https://noctua.vc/
- **Last verified:** 2026-11-12

## Links

- [Website](https://noctua.vc/)

## In-depth investment analysis

## First close is not a final fundraise
| Verified category | Information |
| --- | --- |
| First close | **€15M**, announced **10 November 2026** by LP VERBUND X Ventures |
| Announced fundraising target | **€25M**, reported by Dealroom; **not closed capital** |
| Vehicle designation | No verified exact legal fund name; this VCT record uses a **descriptive label**. Dealroom calls it 'Noctua I' |
| Manager | [Noctua Science Ventures](/fund/noctua-science-ventures), based in Vienna |
| Strategy | Research-based Austrian university or research-institute spin-offs, pre-seed, sector agnostic within deep tech |
| First cheque | **Up to €500,000** as lead investor, not a confirmed minimum or typical amount |
| Disclosed first-close LPs | VERBUND X, Erste, Allocator One, Austria Wirtschaftsservice (aws); **individual commitments not published** |
| Exact legal close day, fees and carry | **Undisclosed**; November 10 is **announcement date** |

[VERBUND's own November 10 announcement](https://www.verbund.com/en/group/news-press/press-releases/2026/11/10/verbund-x-and-noctua-science-ventures) verifies the first-close capital as the investor's statement. [Manager site](https://noctua.vc/) verifies investment mandate; [Dealroom](https://dealroom.co/news/171112-austria-s-noctua-launches-15m-pre-seed-fund-for-university-spin-offs) provides the reported target. Do not add the €25M target to the €15M first-close sum, or treat the five university shareholders as separately verified LPs.

## Founder and LP tour
1. A scientist-founder at an Austrian research institution, including one **outside the shareholder university consortium**, prepares original IP evidence and a commercial problem to solve.
2. The team [submits a pitch](https://noctua.vc/) before or at its first equity financing, with credible ownership/technology transfer and market demand.
3. Noctua evaluates scientific merit and proof of concept through its technical diligence board, plus commercial viability and co-founder gaps.
4. Accepted companies negotiate a lead investment of **up to €500,000** on deal-specific terms; ownership stakes are not publicly standardized.
5. Its team works on capitalization, intellectual property, hiring entrepreneurial operators and follow-on investor introductions. This is an **illustrative workflow from published materials**, not a verified successful applicant case.

The [current public portfolio](https://noctua.vc/portfolio.html) names Turn-Motion, working on patient-specific orthotics/prosthetics production, and DiLT Analytics, working on building-system diagnostics. It does not establish vehicle-level allocations or fund distributions.

## Original arithmetic insight, not a projected budget
At the manager's **maximum** €500,000 initial cheque, funding forty investments would require **€20M before fund fees, reserves or follow-ons**. The announced €15M first close would therefore not be sufficient to give forty companies all the maximum cheque, but the manager may invest smaller amounts and seek additional commitments. This calculation **does not estimate actual investments**. The 2025 date displayed for one portfolio company should not be misread as evidence its round was financed from the legally unnamed 2026 first-close vehicle.

No public fee/carry or minimum LP subscription terms were verified; nothing here is a public retail subscription offer.

Sources: [LP first-close release](https://www.verbund.com/en/group/news-press/press-releases/2026/11/10/verbund-x-and-noctua-science-ventures), [manager](https://noctua.vc/), [portfolio](https://noctua.vc/portfolio.html), [Dealroom report](https://dealroom.co/news/171112-austria-s-noctua-launches-15m-pre-seed-fund-for-university-spin-offs).

## Research sources

- [Primary LP first close](https://www.verbund.com/en/group/news-press/press-releases/2026/11/10/verbund-x-and-noctua-science-ventures)
- [Manager investment policy](https://noctua.vc/)
- [Independent target and details](https://dealroom.co/news/171112-austria-s-noctua-launches-15m-pre-seed-fund-for-university-spin-offs)
- [Manager portfolio](https://noctua.vc/portfolio.html)

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** November 12, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/fund/noctua-science-ventures-pre-seed-fund-2026