Sam Eshrati has joined identity.vc, Europe’s first venture capital impact fund dedicated to backing LGBTQ+ entrepreneurs as its newest Venture Partner.
It's a great boost for the social impact fund who invests in startups with LGBTQ+ representation in the leadership team, targeting early-stage companies from pre-seed to Series A across all sectors in Europe.
Most folks in the tech scene will know Sam, who brings extensive experience as an angel investor, startup advocate, and LGBTQ+ leader, and is a friend of Tech.eu.
As COO and Chief Engagement Officer at TechBBQ, Sam has played a pivotal role in strengthening the European startup ecosystem. He is an active investor, with a strong presence in the startup landscape through angel investments and board memberships with the Danish Startup Group and the Europe Startup Nations Alliance.
I spoke to Sam about his new role and the need to strengthen the LGBTQ+ startup community across Europe.
From silence to strength:LGBTQ+ founders in Europe need more visibility and support
identity.vc’s slogan is “Born to Disrupt”. The Art. 9 SFDR social impact fund invests in LGBTQ+-led startups from Pre-Seed to Series A across all sectors in Europe. identity.vc was founded by Til Klein (Zurich), a former BCG partner and FinTech founder, together with Jochen Beutgen (Berlin), a family office investor with a 20-year track record in venture capital.
But when you think about scope, it's not easy to even get a grip on the amount of LGTBQ+ startup founders in Europe. Even in the UK,
According to Sam, queer and gender diverse founders lack the community of other cohorts in Europe’s startup ecosystem.
There’s been no definitive attempt to collect data but we do know that three-quarters of LGTBQ+ UK startup founders refrain from disclosing their sexuality or gender identity, according to a new data report from the UK LGTBQ+ collective Proud Ventures.
According to Sam, “this is a community-based topic, and insights can only be obtained through community building and ensuring a strong voice. Someone like me, with a strong network, helps with branding and positioning.
I reached a tipping point where I felt it was the right time to be more vocal about these issues.
This opportunity was a perfect fit because I want to promote this agenda openly and help the firm amplify its message.”
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,
According to Sam, these approaches are not mutually exclusive and should happen simultaneously.
“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
What excites me about identity VC is that it walks the talk, rather than simply offering platitudes. For example, we know that many investors will only deal with entrepreneurs introduced to them through a warm introduction – not great for anyone struggling to connect with a roomful of cis white heterosexual men in business wear.
Its website proclaims:
“You don’t need a warm intro with us.
There are already enough barriers when you’re building up a business – shaking the right hands doesn’t have to be one of them.
At identity.vc, we’re open to hearing from all kinds of entrepreneurs regardless of your background or resume.”
As Sam asserts, ‘it’s a win-win situation that considers both social impact and financial returns. We are investing in diverse founders because statistics show they offer better returns."
In terms of specific verticals, Sam’s interest spans 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.”
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.”
A strong network is essential for founders, and identity.vc’s mission centres 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, leveraging its unique, community-driven approach to provide unparalleled access to founders and a robust network, offering a strategic edge in the venture capital landscape.
Lead image: identity.vc team. Photo: uncredited.
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