BlackWood Ventures, a venture capital firm based in Denmark, has closed its debut fund. The firm raised over $25 million to support early-stage startups across Europe. By the end of the funding round, BlackWood had made 19 investments in nine countries.
The fund aims to back about 30 early-stage companies. It focuses on fintech, cleantech, and Web3 founders from pre-seed to seed stages. BlackWood employs a disciplined, pan-European approach to investing.
Some of the fund’s notable investments include beSirius, IVM Markets, Sidekick, Yonder, and Particula. beSirius is a Dutch B2B SaaS platform for the mining and metals industry. IVM Markets is a London-based fintech SaaS company that is transforming structured products distribution for financial institutions.
Sidekick is a UK-based wealth management platform that recently surpassed £100 million in assets under management. BlackWood Ventures is headquartered in Copenhagen and has team members across Europe.
BlackWood’s disciplined approach to funding
The firm’s founder and CEO, Larsen, emphasizes the importance of conviction in their investment decisions. “Europe is not short on talent; it’s short on conviction capital,” said Larsen. The fund’s collaborative strategy with major co-investors demonstrates a responsive attitude toward evolving market dynamics.
BlackWood’s investment strategy is characterized by a methodical approach in identifying standout founders and opportunities. The firm is backed by over 1,000 angel investors and systematic tech-enabled platforms. Matthew Ford, CEO of Sidekick, praised BlackWood for its diligence and efficiency throughout the investment process.
“BlackWood backed us early and has been fantastic to work with,” Ford stated. Steffen Saltofte, a board member at BlackWood, commended the strategic clarity and rapid execution demonstrated by the team. “This ambition and focused execution is exactly what we aimed for with Fund I,” he remarked.
Looking forward, BlackWood Ventures plans to expand its investment portfolio while maintaining and fostering high-impact relationships with existing partners. The firm remains vigilant in emerging sectors like Web 3.0 and is committed to filling Europe’s capital gap.
