Stockholm-based venture capital firm BackingMinds has secured €50 million in the first close of its third investment fund, BackingMinds Invest III.
The European Investment Fund has committed €20 million to the fund, alongside established private investors and founders of unicorn companies.
Fund Targets 20 Early-Stage European Companies
BackingMinds Invest III plans to invest in 20 early-stage businesses developing solutions across three areas: Climate & Resilience, AI & Digital Sovereignty, and Human Potential.
The fund will allocate at least 90% of its investments to companies in the Nordic countries, with up to 10% directed towards businesses in other parts of Europe.
Initial investments will range from €1 million to €3 million, with additional capital reserved for follow-on funding rounds.
Fundraising Remains Open Until 2027
BackingMinds is continuing to accept investments from selected investors following the fund’s first close.
The firm expects to complete the final close in the first quarter of 2027.
Energy Storage Company Tavion Receives Early Investment
The fund has already made its first investment in Tavion, an energy storage company.
BackingMinds Founded in 2016
Sara Wimmercranz and Susanne Najafi founded BackingMinds in 2016.
The firm uses a broad audience reach and data-driven sourcing methods to identify investment opportunities beyond those accessible through personal networks alone.
In addition to providing funding, BackingMinds offers founders hands-on support throughout the different stages of their companies’ growth.
