TLDR:
Identity.vc has launched a €50M fund for LGBTQ+ founders in Europe, offering investments between €250K to €1.5M for early-stage startups with LGBTQ+ representation at the founder or C-level. The fund aims to protect and promote diverse founding teams, as research shows that 75% of LGBTQ+ founders feel pressure to conceal their identity from investors.
Summary:
Identity.vc has unveiled Europe’s first LGBTQ+ venture capital fund, with €50M earmarked for early-stage founders receiving initial tickets ranging from €250K to €1.5M. The firm has already made four investments, including Berlin-based Frontnow and London-based Omni, targeting European companies between pre-seed and Series A stages. The investors behind the fund aim to support diverse founding teams, as research from Proud Ventures indicates that 75% of LGBTQ+ founders hide their identity from investors, leading to negative consequences. Founding Partner Til Klein emphasized the importance of diversity in investment, citing studies that show diverse teams perform better. The team behind the fund includes former BCG partner and FinTech founder Til Klein, family office investor Jochen Beutgen, and growth operator Mari Luukkainen.
