Vienna-based venture capital firm Fund F has closed its first fund at €28 million, exceeding its initial target of €20 million. The fund aims to support female founders in the early stages of startup development, Sifted reports.
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Founded in 2022 by Lisa-Marie Fassl and Nina Wöss Austrian, Fund F is a venture capital firm that invests in pre-seed startups with gender-diverse founding teams across climate tech, femtech, healthtech, fintech, and HRtech.
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The firm aims to lead funding rounds for 30% of its portfolio companies as part of its strategy.
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The fund was designed to plug more cash into female-founded teams who still only get a smidgen of the total VC funding invested into startups.
"Because investing in diverse founders doesn’t just drive innovation - it reshapes entire industries. The earlier we invest, the more we can fuel a cycle where female founders build, scale, exit, and reinvest in the ecosystem. Thank you to everyone who has supported us on this journey — our LPs, founders, and community. This is just the beginning," says Lucy Izquierdo Greene, VC Analyst at Fund F.
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Fund F is backed by diverse investors, including the European Investment Fund (EIF), which invested €10 million at the fund’s final closing.
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Among the existing LPs are Austria Wirtschaftsservice GmbH, which backed the fund through its Venture Capital Initiative, Raiffeisen Landesbank Steiermark, and super angel Hansi Hansmann.
The fund will invest €300,000 in 25 pre-seed and seed-stage startups across Europe, requiring at least one female co-founder with equal representation on the cap table. Additionally, 60% of the fund is reserved for follow-on investments.
Back in October 2022, Fund F completed its first close at €12.5 million and has since invested in 14 startups, including KOA Biotechnology, RYVER.AI, Ada Growth, etc.
