imec.xpand is an independent, globally investing venture capital fund with deep-rooted connections to imec, the Leuven based nanoelectronics research institute. The fund is managed independently and is not imec itself, but it was established in collaboration with the institute and imec is among its limited partners, a structure comparable to how Engine Ventures relates to MIT's The Engine. That privileged relationship gives the fund's partners direct access to imec's researchers, intellectual property and cleanroom infrastructure, which they use to assess the technological feasibility and scalability of early stage deeptech companies before investing. The strategy targets transformative semiconductor, nanotechnology and photonics innovations where imec's contribution can have a determining impact on a company's technology development, spanning hardware for artificial intelligence, quantum computing, optical interconnect, imaging and health technology. The team combines seasoned venture investors with former entrepreneurs and imec veterans, and takes a hands-on role in company building from spin-out through global scale-up. Its first fund of 117 million euros closed in 2018 with corporate backers including Samsung, Philips and Applied Materials alongside imec and Flemish institutions, and a 300 million euro second fund closed in May 2024, positioning the firm as one of Europe's largest specialist semiconductor venture investors.
Optical interconnect portfolio company Celestial AI was acquired by Marvell Technology in a deal announced in December 2025 at $3.3 billion and completed in early 2026.