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Mistral, ICEYE and Who Owns Europe's Deep Tech

Both of the Scaleup Europe Fund's disclosed investments are deep tech: ICEYE's Series F in August, and Mistral's €3 billion Series D on 8 September at a post-money valuation above €21 billion. Jörn "Joe" Menninger asks what that buys Europe — and why, across the wider evidence, European deep-tech companies keep their laboratories at home while their parent companies move to Delaware.

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Why this matters for deep tech: Deep tech is the sharpest case of the pattern this episode measures, because the research is the…

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