Speedinvest starts €3M fund of funds to back emerging VCs

Austrian firm Speedinvest has announced the launch of a €3 million fund of funds to back emerging pre-seed and micro venture capitals. The fund plans to invest the funds across 10-12 early-stage managers based around the world, Sifted writes.

  • Launched in 2011 as a €10 million fund, Speedinvest now is one of the leading pan-European early-stage venture capital firms with more than €1 billion assets under management and offices in Berlin, London, Munich, Paris, and Vienna.
  • With this fund it aims to support young VC funds including those in emerging markets like India and Africa. The firm also says that at least 50% of the GPs will be women or people from other traditionally underrepresented backgrounds.

“It’s about how we can help first-time fund managers scale from a $10 million fund to $500 million. They learn from us, we help them scale. Yes, we might get early access to some deals, but that’s not the intent — it really is an ecosystem development activity,”

Deepali Nangia, the Speedinvest partner leading the programme, comments.
  • In December 2022, Speedinvest raised €500 million to invest in around 100 new early-stage tech startups. Following the launch, the fund joined the €10.8 million round for Kittl, a German design platform. More recently, in February 2023, it also co-led the $5 million seed round for Saudi Arabian HRtech palm.hr.
  • Currently, it has more than 250 companies in its portfolio. The list includes well-known companies like Wefox, Bitpanda, TIER Mobility, GoStudent, Wayflyer, Open, CoachHub, Schüttflix, TourRadar, Adverity, etc.