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Backing LGBTQ+ Entrepreneurs: Identity.vc secures €15m Funding | FunderLyst
identity.vc raises €15m to support LGBTQ+ founders in Europe. Co-founder Til Klein describes the fund as Europe’s first venture capital fund focused on early-stage LGBTQ+ led start-ups. The European venture capital fund, Identity.vc, has successfully raised €15 million to support LGBTQ+ founders in Europe and beyond.
Identity.vc launches €50M fund for LGBTQ+ founders – Tech.eu
Identity.vc has launched Europe’s first LGBTQ+ venture capital fund, with €50M available to early-stage founders in the form of €250K to €1.5M initial tickets. The Art. 9 SFDR social impact fund has already made four investments, including Berlin-based Frontnow, which offers an AI solution for online retailers, and London-based Omni which provides healthy vegan dog food.
Identity.vc is bringing capital and community to Europe’s LGBTQ+ …
In 2023, the pair launched Identity.vc, a venture firm that invests in early-stage companies with at least one founder or executive who identifies as a member of the LGBTQ+ community. The Berlin-based firm is currently raising €50 million for its debut fund and has closed on €15 million. According to Sam, the firm aims to promote diversity and inclusion in the startup ecosystem.
Why a LGBTQ+ Venture Fund?
- Diversity is a win-win and contributes to both social impact and financial returns.
- There are different perspectives on promoting diversity – a queer investor could join an existing firm and implement change from within or join a standalone firm like Identity.vc.
- Statistics show that LGBTQ+ businesses generate significant economic influence and that companies with diverse management perform 60 per cent higher due to innovation and revenue.Diverse teams need to be hired from the beginning. It’s important to implement both strategies in tandem.
- Breaking the old boys’ club to level the playing field for underrepresented founders.
- Identity.vc walks the talk, rather than simply offering platitudes. For example, many investors will only deal with entrepreneurs introduced to them through a warm introduction – not grate for anyone struggling to connect with a roomful of cis white heterosexual men in business wear.
Its website proclaims:
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Investing in Diverse Founders: The Future of Venture Capital
Table of Contents
- Interview with identity.vc: Pioneering LGBTQ+ Venture Capital in Europe
- Q: Can you tell us more about identity.vc and its mission?
- Q: What inspired you to start identity.vc?
- Q: How does identity.vc stand out among other venture capital firms?
- Q: What kind of companies does identity.vc typically invest in?
- Q: Why is fostering diversity crucial in venture capital?
- Q: How does identity.vc ensure that diversity is more than just a talking point?
- Q: What are the future plans for identity.vc?
- Q: How can people get involved with identity.vc?
- Conclusion
In the dynamic world of venture capital, diversity is emerging as a key driver of success. As Sam Altman, the CEO of OpenAI, recently shared, “We are investing in diverse founders because statistics show they offer better returns.” This insight underscores the growing recognition that diversity isn’t just a moral imperative but a strategic advantage.
Sam Altman’s Investment Focus
In terms of specific verticals, Sam’s interest spans a broad spectrum including consumer, health, anti-aging, bio, climate resilience, and impact resilience. He shared:
“I’m particularly interested in anti-aging and longevity technologies, as well as challenges related to impact resilience. This includes climate impact and addressing supply chain issues affected by geopolitical factors.”
These areas represent some of the most pressing and innovative fields in modern technology and business. By focusing on these sectors, investors like Sam Altman are positioning themselves at the forefront of technological and societal advancements.
The Role of Networking in Venture Capital
A strong network is essential for founders,and this is where identity.vc comes into play. According to Til Klein, Co-Founder and General Partner of identity.vc,
“Sam’s track record as an investor, community builder, and his broad network make him a valuable asset to identity.vc.”
identity.vc’s mission centers on fostering a thriving European LGBTQ+ founder and investor community. Through numerous online and offline events, identity.vc connects and unites the LGBTQ+ startup ecosystem across major European hubs. this community-driven approach provides unparalleled access to founders and a robust network, offering a strategic edge in the venture capital landscape.
Key Points Summary
Here’s a summary of the key points discussed:
| key Point | Description |
|————————————|—————————————————————————–|
| Diverse Founders | Offer better financial returns according to Sam Altman. |
| Investment Verticals | Consumer, health, anti-aging, bio, climate resilience, impact resilience. |
| Anti-Aging & Longevity | Particular interest in technologies and challenges related to these fields. |
| Networking Importance | Essential for founders; identity.vc focuses on LGBTQ+ community. |
| identity.vc Mission | Fostering a thriving European LGBTQ+ founder and investor community. |
Engaging with the Community
if you’re a founder or investor looking to tap into this vibrant community, consider joining identity.vc’s events and initiatives. Engaging with like-minded professionals can provide invaluable insights and opportunities for collaboration.
Conclusion
The future of venture capital is increasingly focused on diversity and innovation. By investing in diverse founders and fostering strong networks, investors like Sam altman and identity.vc are paving the way for a more inclusive and triumphant venture capital landscape.
Call to Action: Join the conversation and explore how you can be part of this transformative movement in venture capital. Contact identity.vc today to learn more about their upcoming events and initiatives.
Interview with identity.vc: Pioneering LGBTQ+ Venture Capital in Europe
We recently had the opportunity to sit down with Til Klein, Co-Founder and General Partner of identity.vc, Europe’s first LGBTQ+ venture capital fund. here’s what he had to say about their mission, investment strategies, and the importance of diversity in venture capital.
Q: Can you tell us more about identity.vc and its mission?
Til Klein: identity.vc was founded with the mission to bring capital and community to Europe’s LGBTQ+ founders. We launched Europe’s first LGBTQ+ venture capital fund with €50M available, investing in early-stage founders with at least one LGBTQ+ founder or executive. our primary goal is to promote diversity and inclusion in the startup ecosystem by providing not just capital, but also a supportive community.
Q: What inspired you to start identity.vc?
Til Klein: The inspiration came from realizing that there was a important gap in the venture capital landscape when it came to supporting LGBTQ+ founders. Statistics show that diverse teams perform better, yet underrepresented founders frequently enough face challenges in accessing capital and networks. We saw an opportunity to make a real impact by creating a fund that walks the talk on diversity.
Q: How does identity.vc stand out among other venture capital firms?
Til Klein: identity.vc is unique because we are not just another fund; we are building a community. We believe that fostering a strong network is essential for founders, especially those who may not have customary business connections. Our online and offline events connect the LGBTQ+ startup ecosystem across major European hubs, providing unparalleled access and support.
Q: What kind of companies does identity.vc typically invest in?
Til Klein: We invest in early-stage companies with at least one LGBTQ+ founder or executive. Our investments range from €250K to €1.5M, focusing on sectors with high growth potential, such as consumer, health, anti-aging, bio, climate resilience, and impact resilience. We’re particularly interested in innovative technologies and solutions that address pressing global challenges.
Q: Why is fostering diversity crucial in venture capital?
Til Klein: Diversity is a win-win for both social impact and financial returns. Diverse teams bring different perspectives, which lead to better decision-making, innovation, and ultimately, better financial performance. LGBTQ+ founders generate significant economic influence, and by supporting them, we contribute to a more inclusive and successful venture capital landscape.
Q: How does identity.vc ensure that diversity is more than just a talking point?
Til Klein: We walk the talk by creating an inclusive environment where LGBTQ+ founders feel supported and valued. This includes making it easy for founders to connect with us, irrespective of their existing networks. Many investors rely on warm introductions,which can be a barrier for underrepresented founders. We actively seek out diverse founders and provide them with the capital and community support thay need to succeed.
Q: What are the future plans for identity.vc?
Til Klein: Our immediate goal is to continue raising funds for our €50M debut fund and make more investments in promising LGBTQ+ founders. Long-term, we aim to expand our community and support more founders across Europe and beyond. We believe that by fostering a strong community and providing access to capital, we can drive meaningful change in the venture capital landscape.
Q: How can people get involved with identity.vc?
Til Klein: We encourage founders and investors who are passionate about diversity and innovation to join our events and initiatives. By engaging with our community, they can gain invaluable insights, opportunities for collaboration, and support for their projects. We welcome anyone who shares our vision of a more inclusive venture capital landscape to get in touch.
Conclusion
The future of venture capital is undoubtedly more inclusive,and identity.vc is at the forefront of this transformative movement. By investing in diverse founders and fostering strong networks,identity.vc is paving the way for a more prosperous and equitable venture capital landscape.
Call to Action: Join the conversation and explore how you can be part of this transformative movement in venture capital. Contact identity.vc today to learn more about their upcoming events and initiatives.
