Rick Hao, solo GP and founder of Ruya Ventures, has revealed a $50 million (£38m) fundraise for his first VC fund.

The fund is focused on supporting global DeepTech innovation, as it shifts from the lab into real-world deployment.

Ruya Ventures, whilst rooted in Europe, will build a portfolio of 20 DeepTech companies worldwide, backing frontier technologies that solve meaningful but difficult problems that others would shy away from.