Fund F

What they fund

• Cheque Size — Tickets of up to EUR 600k per investment [1].
• Lead Investor — The fund acts as a lead investor in its portfolio companies [1].
• Follow-On Policy — They maintain an active follow-on policy for existing portfolio companies [1].
• Sector Preference — Preference for digital and scalable business models [1].
• SDG Focus — Prioritizes investments with a positive impact aligned with Sustainable Development Goals [1].

Credibility: Fund F website, 'How we invest' section [1].

Investment thesis

Fund F targets the largest untapped opportunity in European tech: female (co-)founded companies, backed by the thesis that diversity drives superior performance and a more inclusive future [1].

• Core Opportunity — The fund identifies female (co-)founded companies as the biggest opportunity in European tech [1].
• Performance Rationale — The investment case rests on the conviction that gender-diverse teams deliver better results and performance [1].
• Impact-Driven Vision — The fund aims to build an accessible, equitable, and impact-driven European tech ecosystem [1].
• Market & Impact — Investments target companies addressing huge markets while creating positive impact to improve millions of lives [1].
• Team Composition — The fund is built by a team of entrepreneurs, investors, and operators [1].

Credibility: Fund F website, 'Why we invest' and 'Who we invest in' sections [1].

Value add

Fund F offers access to a Female Founders Community with 85k+ members [1]. They provide support in personal development, people & culture, business strategy & commercials, and business operations [1].

Fit verdict: Ideal for female (co-)founded early-stage startups seeking capital, community, and operational support.

Founder diligence script:

• How does the Female Founders Community specifically support my growth?
• What is the typical timeline for follow-on investments?
• How do you assist with team building and culture?
• What is your approach to business strategy and scaling?
• How do you measure and support the impact of your portfolio companies?

Credibility: Fund F website, 'How we help you achieve your goals' section [1].

Portfolio focus

• Diverse Industries — Portfolio spans various industries across Europe, including Senvo, Sirius, Besirius, and Koa [1].
• Early-Stage Focus — All named portfolio companies are early-stage ventures receiving pre-seed or seed funding [1].
• Impact Alignment — Portfolio companies are selected for their potential to create positive impact and improve lives [1].

Credibility: Fund F website, 'Meet our portfolio' section [1].

Notable investments & exits

• Portfolio Companies — Senvo — [1]
• Portfolio Companies — Sirius — [1]
• Portfolio Companies — Besirius — [1]
• Portfolio Companies — KOA — [1]
• Exits — Unknown — not covered in the available sources.

Strategic implications

Fund F's exclusive focus on female (co-)founded teams creates a niche that differentiates it in the crowded European VC landscape. The EIF backing provides credibility and potentially lower cost of capital, but may also impose specific impact and reporting requirements. The strong emphasis on founder well-being and mental health suggests a long-term, supportive approach, which could lead to higher founder retention and better performance, but may also require more hands-on support from the fund.

Where they could go further

Consider expanding the definition of 'gender-diverse' to include non-binary founders to broaden the talent pool. Develop a more structured program for portfolio companies to access the Female Founders Community, ensuring tangible value. Publish more detailed impact metrics to demonstrate the fund's effectiveness in driving both financial returns and social impact. Explore partnerships with other funds focused on underrepresented founders to co-invest and share deal flow.