Rick Hao, former partner at Speedinvest, has closed a $50 million solo general partner fund named Ruya Ventures to invest in deeptech startups globally, with a focus on Europe and the UK. The fund aims to back companies working on technologies including batteries, semiconductors, robotics, artificial intelligence, and novel computing, according to sifted.eu.
The fund was raised independently by Hao after his tenure at Speedinvest, marking his first solo venture capital initiative. Ruya Ventures plans to deploy capital across early-stage startups developing foundational technologies that address complex scientific and engineering challenges. Hao emphasized the importance of supporting deeptech innovation that requires long development cycles and significant capital investment.
This fund launch comes amid growing investor interest in deeptech sectors, which are seen as critical for future technological advancements and economic competitiveness. Compared to traditional tech investments, deeptech requires specialized knowledge and patience due to its high technical risk and longer timelines. Ruya Ventures joins a select group of funds dedicated to this space, which includes established players focusing on transformative hardware and software technologies.
Ruya Ventures has already begun evaluating potential investments and aims to complete its initial deployment phase within the next 12 months. Hao’s experience at Speedinvest and his network in the European deeptech ecosystem position the fund to identify promising startups in this niche. The $50 million fund size reflects a focused approach to backing startups that address fundamental technology challenges.