A further working day, another new European VC fund. This time it is the turn of London-primarily based Backed VC, which now is formally outing its €30 million pan-European seed-stage fund, whilst it is been lively since past year and has already made quite a few investments. The purpose, founding partner Andre de Haes tells me, is to convey a far more “community-driven” solution to VC.
It is my understanding that this interprets into equally featuring have to everyone who sends a lead that then final results in an expense (not just official Venture Partners, as is far more typical VC operandi) and the way Backed is building a selection of software platforms to superior scale the VC fund.
The latter will present a way to basically crowdsource among its portfolio providers and wider community what could possibly ordinarily be considered as operational aid, which its two-man or woman staff would not or else be ready to present. This features platforms to enable with hiring, expertise sharing, and information advertising and marketing.
To that close, together with de Haes, the freshly outed VC’s other founder is Alex Brunicki. Each are just 28 many years old and have recognized each other for 15 many years, owning invested time jointly at Oxford College, and then McKinsey & Corporation. De Haes also invested a small time at Index Ventures in London, and Andreessen Horowitz in Silicon Valley, possibly side of carrying out an MBA at Stanford, evidently.
In a connect with, he instructed me he aims to make Backed VC a single of the most available corporations in Europe and truly pan-European, whilst that’s a little something that all of the new VC children on the block speak up. A group platform to enable portfolio providers share expertise is not completely new possibly, these as the way Seedcamp and its ilk use tools these as Slack and Mobilize, but certainly it is all in the particulars.
In the meantime, Backed VC has already invested in 10 startups throughout 4 unique nations around the world, together with music video clip streaming provider Boiler Space, startup accelerator The Spouse and children, artificially-clever music composer Jukedeck, knitwear design platform Unmade, freelancer management method Lystable, children’s digital kits manufacturer Tech Will Conserve Us and mobile gaming firm Armada Interactive. Other portfolio providers keep on being in stealth manner.
To date, all of Backed VC’s offers, which will commonly be in the €500,000 to €1 million variety, have been co-investments with equally European and U.S. cash, together with Index Ventures, Join Ventures, Valar and Floodgate. De Haes claims moving ahead, he and Brunicki prepare to concentrate on industries where Europe prospects Silicon Valley, citing the regions of fashion, music, gaming and fintech.
And lastly, I’ll leave you with this entertaining actuality: Backed VC closed its expense in Jukedeck the working day in advance of the startup won TechCrunch Disrupt London’s Battlefield competitiveness in December, a little something De Haes claims pleased the fund’s LPs greatly.