Belgium-based Seeder Fund has unveiled its second investment fund with a target size of €30 million to back digital startups. Seeder Fund II, which has currently opened with €15 million in its kitty, will invest in more than 50 startups in pre-seed and seed phase in the next five years.
The fund will invest €100,000 to €250,000 in seed and up to €500,000 for startups with proven commercial traction. It will follow the different funding rounds of startups with an average investment capacity of around €1.5 million per startup.
Seeder Fund II will primarily invest in Belgium startups but will expand its presence to neighboring countries such as Luxembourg, the Netherlands and France.
According to the company, the first three investments are expected to be announced in the coming days in sectors as diverse as mobility, telecommunications and hospitality. The number of investments should double by the end of the summer.
Belfius Insurance and other private investors have supported the fund, alongside the main historical shareholders, namely the fund managers, SFPI, Sambrinvest, ULB and a group of private investors already present in Seeder I.
The fund’s personalised support and focus on achieving key milestones within a specific timeframe, enhance the chances of success for the startups. According to the company, almost 30% of the portfolio companies raise further capital to accelerate their growth.
The company’s first fund in 2016 supported 40 startups, which raised over €120 million in venture capital. It includes the likes of Keyrock, Dog Chef, MyskillCamp, Urbantz, ProUnity, Hello Customer, Next Gate Tech, WeGroup and Levenue.
As part of the 50°North Ventures group (formerly EEBIC Ventures), the Seeder Fund can also offer entrepreneurs a complete ecosystem focused on innovation and startup development, with complementary teams, a network of partners - both financial and business - and a presence on the North American continent.