Venture capital firm Backed launches €150m funds to back high-growth tech
London-based venture capital firm Backed has unveiled two new €75m funds to tap into European high-growth tech firms, the firm announced today.
The two new funds, backed by both publicly-listed firms and a range of venture-focused family offices and entrepreneurs, will focus separately on early ‘seed’ stage firms and later stage funding rounds across Europe.
Backed bosses said they would now look to build out the firm’s ‘human-centric’ approach and identify entrepreneurs with high growth potential.
“We believe in the human factor: as a seed founder, you are your company’s most valuable asset,” said managing partner Andre de Haes.
“Today there are more funds than ever in Europe, but still very few communities uniting the most talented founders through deep friendships anchored on mutual support.”
De Haes and co-founder Alex Brunicki said they would deepen their focus on biotech and crypto with the new funding, where Backed had built “an exceptional team to support founders at scale”.
Backed’s portfolio now consists of 67 companies with a cumulative value of €10.7Bn including three so-called unicorns – firms worth more than $1bn – including banking platform Thought Machine; and the crypto solutions firm Immutable X.