Former VC launches €30m fund to boost European seed-stage companies

Backed VC has announced the launch of a European-focused €30m seed-stage venture capital fund, which will focus on areas including fashion, music, gaming and FinTech.

Backed VC, co-founded by Andre de Haes, formerly a venture capital investor at Andreessen Horowitz and Index Ventures, will seek out to be a community driven fund.

Speaking about the launch, De Haes said in a statement: “We see ourselves as talent scouts, backing obsessive founders extremely early and specialising in addressing the pains they face at seed.”

To deliver its community-driven mission, Backed VC will share its profits with everyone who refers a company it backs.

Additionally, Backed VC is also building a collaborative software platform that will allow entrepreneurs to hire talent from across Europe, share knowledge and distribute marketing content, encouraging entrepreneurs to help one another.

The fund has already invested in startups in the UK: artificially-intelligent music composer Jukedeck,  knitwear design platform Unmade, freelancer management system Lystable and children’s electronic kits manufacturer Tech Will Save Us.

Elsewhere, the fund has added French-startup accelerator The Family and Finnish mobile gaming company Armada Interactive to its portfolio.

Backed VC is reserving an additional €10m allocation for investors who can provide expertise to its portfolio companies.