Denmark-based venture fund BackingMinds, which was originally founded back in 2016, has officially raised a new €50 million fund that will target a road less travelled by most VCs and looking “for the blind spots” traditional venture capital often miss due to, what they believe, to be a VC herd pattern.
BackingMinds’ new fund will instead look for companies with high potential outside of Europe’s capital cities and entrepreneurs often overlooked by traditional investors, with investment range of the fund being €500,000 to €3,000,000 on initial investments, and across the whole of entire Europe, except the UK, due to it being outside the EU.
“Sweden is far ahead in terms of demographic and digital transformation and we can apply many insights when looking for overlooked opportunities in Denmark and the Nordics,” said Susanne Najafi, founder of BackingMinds, in a statement (via TechCrunch).
“It’s not about charity or diversity investing, it’s about driving societal change and even out injustices by making good returns. We go straight to the solution, challenging bias and put focus on blind spots by delivering returns in companies where traditional investors see nothing but risks,” added Sara Wimmercranz.