Ruya Ventures closes £40m fund to back UK pre-seed deeptech founders
This article covers Ruya Ventures, a venture capital firm that has closed its debut fund at £40m to back pre-seed deep tech founders in artificial intelligence, batteries, robotics, semiconductors, materials science and novel computing. The fund aims to support very early-stage founders by providing capital and operational help to translate lab inventions into manufacturable products and scale.
Ruya Ventures has closed its debut fund at £40m to back pre-seed deep tech founders across artificial intelligence, batteries, robotics, semiconductors, materials science and novel computing. The Europe-rooted fund will invest globally, target founders at their first financing round — and in many cases before incorporation — with an aim to build a portfolio of around 20 companies and to help translate lab inventions into manufacturable products.
Why it matters
Early-stage capital for hardware-focused and deep technology startups remains scarce compared with software. Ruya’s £40m vehicle is designed specifically to bridge the gap between prototypes and scale by combining capital with operational support for commercialisation, manufacturing, supply chain and international expansion. That combination speaks to one of the toughest problems in the sector: getting working research out of the lab and into market-ready production.
Inside the portfolio
Capital is already being deployed. Publicly disclosed backers include WLF Energy and MegaCool, alongside three additional stealth-mode startups working in artificial intelligence, robotics and semiconductors.
- WLF Energy is focused on energy infrastructure spanning generation through to the grid. Its remit makes it relevant to utilities and the decarbonisation agenda.
- MegaCool develops specialised cooling hardware optimised for modern compute, addressing growing thermal challenges in data centres and high-performance systems.
The inclusion of stealth companies signals Ruya’s appetite for very early-stage bets, including teams that may still be finalising incorporation.
Who’s behind the fund
Ruya Ventures is led by Rick Hao as solo general partner. Hao brings more than a decade of deep tech investing experience and has worked alongside founders commercialising breakthrough technologies across multiple sectors. He has positioned Ruya as Europe-rooted but internationally networked, drawing on contacts in the US and Asia as well as Europe.
Rick Hao, Solo GP at Ruya Ventures, said:
Deep tech is a marathon not a sprint. Any successful founder in the space will tell you that getting out of the lab is not the hardest part of the journey. Yes, timelines are lengthy and capital requirements hefty but deeptech failures are not down to the science being wrong. Most deep tech companies stall because no one helps founders figure out how to cross the chasm between a working prototype and a product that can be manufactured at scale and adopted by the market. Deep tech (and the supply chains that underpin it) is an inherently global game. A European lens alone is not sufficient. That is why Ruya Ventures is rooted in Europe but deliberately built with a network that spans Europe, the US, and Asia.
How it will work with founders
Ruya targets founders at their first financing round and, in many cases, before incorporation. The fund aims to do more than write cheques: its stated priorities include helping teams with product commercialisation, designing manufacturable systems, developing supply chains and planning international expansion. The fund’s small portfolio target — roughly 20 companies — suggests a hands-on approach rather than high-volume seed deployment.
Fundraise and recognition
The fund reached final close in under a year and was reportedly highly oversubscribed. Hao opted to keep the fund at £40m, sticking to a size he believes fits the strategy rather than increasing the pool. While still operating in stealth, Ruya was named Newcomer of the Year by the European Venture Capital Association in April 2026, a nod from peers to its early approach to deep tech investing in Europe.
How it fits the market
Deep tech investing requires patient capital and operational bandwidth. In the UK and Europe, where strong research institutions produce hardware and materials innovations, there has been a persistent need for early-stage investors who understand manufacturing, capital intensity and cross-border supply chains. Ruya’s Europe roots plus international network aim to address those needs by connecting founders to markets, suppliers and manufacturing ecosystems beyond a single jurisdiction.
The bigger picture
Ruya’s debut fund adds to a gradual shift in the European funding landscape toward more specialised early-stage vehicles that combine capital with industrial expertise. If the firm can help a handful of portfolio companies clear the prototype-to-product hurdle, it will contribute to a healthier pipeline of hardware companies able to scale from Europe into global markets.
For founders and investors watching the deep tech space, Ruya’s approach underlines an enduring reality: early capital is necessary but not sufficient. What often determines success is the operational support that follows the cheque, especially when bringing physical products and complex systems to market.
Click here for a full list of 7,589+ startup investors in the UK