Funding

BlackWood funding news – Copenhagen-based Early-Stage VC Firm BlackWood Raises €14.7 Million in 2nd Closing of Fund I

Jun 7, 2024 | By Startup Rise EU

BlackWood, a network and technology-driven venture capital fund, raises €14.7
million in 2nd closing of Fund I. The fund finds and invests in Europe's most promising early-stage entrepreneurs using a methodical process.

BlackWood, a network and technology-driven venture capital fund, raises €14.7
million in 2nd closing of Fund I. The fund finds and invests in Europe's most promising early-stage entrepreneurs using a methodical process.

SUMMARY

  • BlackWood, a network and technology-driven venture capital fund, raises €14.7 million in 2nd closing of Fund I.
  • The venture capital fund BlackWood is based in Copenhagen, Denmark, and is powered by technology and networks.

Since April 2023, the investment team has supported innovative entrepreneurs in Denmark, France, Italy, the Netherlands, Sweden, Switzerland, the UK, and the US with 12 investments made using this methodology.

This progress confirms to their limited partners that the fund is on track in terms of portfolio size and time diversification, and it also highlights their ability to successfully conclude cross-border venture partnerships.

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Bastian Larsen, Founder and CEO of BlackWood said, “BlackWood Ventures is increasingly becoming a catalyst for revolutionary companies and founders across Europe, With the timing of our fund launch aligning perfectly with market conditions, we are in an exceptionally promising position to drive significant advancements in our focus sectors”.

Christian Mariager, a new investor in the fund, shared his view on why he chose to invest: “After a long career, including 25 years at McKinsey, I have rarely come across such exceptional and driven individuals. The team at BlackWood is on a mission to disrupt the European venture capital space, and I think it is important to have a Danish-based venture fund that can offer pan-European exposure to Nordic investors like myself,” said Mariager, who is a Senior Advisor at L Catterton, the largest consumer-focused private equity firm in the world.

About 300 startups are examined each month at BlackWood Ventures, where deal flow has been continuously high since the initial closure. Increased collaboration channels, a consistent flow of proposals from the Angel Network, and a sizable number of inbound inquiries from organic sources all contribute to this heavy inflow.

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It maintains an acceptance rate of 0.2% by using a proprietary selection method to make sure that only the most potential opportunities are taken into consideration.

Simon Stampe, Chairman of BlackWood Ventures, emphasised the strength of the team: “Our team’s expertise is a cornerstone of our strategy. Our backgrounds and industry experience allow us to identify and support promising startups uniquely. This is crucial for discovering and nurturing Europe’s next wave of innovation.”

Family offices, recently retired entrepreneurs, and private investors from the Nordic region made up the majority of the round's investors. Additional investments can still be made into BlackWood Ventures Fund I.

About BlackWood

The venture capital fund BlackWood is based in Copenhagen, Denmark, and is powered by technology and networks. To find and fund the most promising early-stage companies in Europe, we employ artificial intelligence.

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