Backed VC, a new €30 million pan-European seed-stage venture capital fund, has launched today with what it calls a “collaborative, community-driven” approach to funding.
Founded by Andre de Haes (formerly of Andreesen Horowitz and Index Ventures) and Alex Brunicki (formerly of McKinsey & Company), London's Backed VC says it will share its profits with everyone who refers a company it backs.
“How many VCs can truly say that the founders they back are their peers? We’re culturally connected to the entrepreneurs in our clan, and ingrained in the networks through which they build their teams,” said de Haes. The firm is also building software platforms to help entrepreneurs in marketing and hiring across Europe.
Backed VC is focused on seed investments and has co-invested in several deals already with other European and US funds such as Index Ventures and Connect Ventures.
“We see ourselves as talent scouts, backing obsessive founders extremely early and specialising in addressing the pains they face at seed,” said de Haes, adding that the fund wants to take advantage of the business areas–like fashion, gaming, and fintech–that he believes Europe is excelling at above Silicon Valley.
“VCs invest in innovation, yet in Europe have largely failed to innovate on their own business model. We are able to start with a blank slate and take a 30 year view to transcend the old model.”